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- Delix Therapeutics
Delix Therapeutics Funding, Investors & Competitors
Delix Therapeutics has raised $133M across 4 funding rounds, most recently a $25M Series B in September 2025.
Last Delix Therapeutics funding round
$25M
Series B · Sep 2025
Cumulative funding Delix Therapeutics raised
$133M
across 4 funding rounds
Key investors in Delix Therapeutics
OMX Ventures
RA Capital Management
Artis Ventures
Presight Capital
Talent Resources Ventures
UC Davis Health Ventures
About Delix Therapeutics
Boston-headquartered Delix Therapeutics engineers psychoplastogens, small-molecule drugs that promote neuroplasticity for treating depression, anxiety, and substance use disorders. Founded in 2019, the neuroscience company advances clinical candidates like DLX-001 through partnerships with research institutions and advances in psychedelic-inspired therapies without hallucinogenic effects.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Delix Therapeutics Funding History
Delix Therapeutics has raised a total of $133M across 4 funding rounds.
Delix Therapeutics' first fundraising round was a $8M seed round in September 2020. The most recent completed round was a $25M Series B in September 2025.
Delix Therapeutics funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Sep 2025 | Series B | UC Davis Health Ventures (lead) | $25M | Delix Therapeutics is a UC Davis spinout developing non-hallucinogenic neuroplastogens for major depressive disorder (MDD) and other serious neuropsychiatric and neurodegenerative conditions. The company's lead candidate DLX-001 (Zalsupindole) has completed Phase 1a trials demonstrating favorable safety and tolerability, plus Phase 1b studies in MDD patients showing rapid, sustained reductions in depressive symptoms. UC Davis Health Ventures announced its first investment from the Investing in the Future of Medicine (IFM) Fund, a $25 million program managed by Health Ventures to accelerate translation of high-impact innovations, backing Delix in September 2025. The investment was made in collaboration with UC Investments, which manages over $200 billion across endowment, pension and working capital portfolios. UC Davis licensed intellectual property rights related to the innovation to Delix Therapeutics, and the university and inventors remain eligible to receive a share of licensing income under UC policy. Neither the fund nor the company publicly disclosed the size of the initial investment. The IFM Fund was designed to close early- and later-stage funding gaps and support the pathway from proof-of-concept through pre-seed, seed, and into Series A and B investments in collaboration with external venture partners. |
| Jan 2022 | Undisclosed stage | Talent Resources Ventures | $30M | Delix Therapeutics is a UC Davis spinout developing non-hallucinogenic neuroplastogens for major depressive disorder and other serious neuropsychiatric and neurodegenerative conditions. The company pioneered third-generation neuroplastogen compounds and operates a discovery platform identifying novel compounds with rapid and sustained therapeutic effects; the company reported over 2,000 compounds in its portfolio with one Phase 2-ready asset and several preclinical assets. Delix has raised $111.14 million across multiple funding rounds from a network of 39+ venture capital firms and strategic partners including RA Capital Management, ARTIS Ventures, and OMX Ventures. The company received early support through UC Davis innovation programs and has attracted investment from institutional partners including UC Investments, which manages over $200 billion across endowment, pension, and working capital portfolios. |
| Sep 2021 | Series A | Artis Ventures (lead); OMX Ventures (lead); RA Capital Management (lead) | $70M | Delix Therapeutics is a preclinical neuroscience company developing novel non-hallucinogenic psychoplastogens—neuroplasticity-promoting compounds—to treat neuropsychiatric and neurodegenerative disorders like depression, addiction, and dementia by addressing root causes such as cortical atrophy rather than just symptoms. Co-founded by UC Davis professor David E. Olson, the Boston-based startup has generated nearly 1,000 novel compounds, analogues of psychedelics like psilocybin, LSD, DMT, and MDMA, with preclinical data published in journals including Nature and Cell. On September 27, 2021, Delix closed a $70 million Series A financing round led by ARTIS Ventures, RA Capital Management, and founding investor OMX Ventures, with participation from investors including Apeiron, Bail Capital, Casa Verde Capital, Dolby Family Ventures, Negev Capital, Noetic Fund, Ocama Partners, Palo Santo, Presight Capital, PsyMed Ventures, R2, Re.Mind Capital, Saya Bio, Vertical Venture Partners, WPSS, and other family funds. Proceeds from the round are earmarked to advance two lead candidates, DLX-1 and DLX-7, through Phase 1 clinical trials starting in 2022 after completing pre-IND safety and toxicology studies, expand the psychoplastogen drug discovery platform, and grow the team. CEO Mark Rus, formerly of Shire Pharmaceuticals' Global Neuroscience Business, highlighted the progress in creating safe, scalable, fast-acting compounds for FDA approval. The company's approach emphasizes improved safety profiles, non-hallucinatory efficacy, and simplified manufacturing compared to first-generation psychedelics. Investors praised Delix's forefront position in neuroscience, novel neuroplasticity platform, strong IP, and potential to impact mental health treatments at scale. ARTIS Ventures' Vasudev Bailey, a board member, noted opportunities in neuropsychiatric and neurodegenerative conditions. RA Capital's Andrew Levin emphasized the need for scalable alternatives to psychedelics. Delix was named to Fierce Biotech's 2021 Fierce 15 list alongside companies like Moderna, reflecting industry recognition. The startup originated from Olson's UC Davis research supported by STAIR grants in 2017-2018. |
| Sep 2020 | Seed | OMX Ventures (lead); Presight Capital | $8M | Delix Therapeutics raised funds in a round involving OMX Ventures around 2020, though specific details for the targeted April 2020 date with Presight Capital are not detailed. The company develops non-hallucinogenic psychedelic compounds for psychiatric and neurological conditions. Later, Delix Therapeutics closed a $70 million Series A round co-led by Artis Ventures, RA Capital Management, and OMX Ventures, and received $100 million from investors including OMX Ventures. Delix Therapeutics has raised a total of $111.14 million over multiple rounds, with investors numbering 21. |
Who has invested in Delix Therapeutics?
6 investors have backed Delix Therapeutics across its funding rounds, including OMX Ventures, RA Capital Management, Artis Ventures, Presight Capital, Talent Resources Ventures and UC Davis Health Ventures.
Lead investors include UC Davis Health Ventures, Artis Ventures, OMX Ventures and RA Capital Management.
Delix Therapeutics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Sep 2020 | ||
| 1 | Lead | Sep 2025 | ||
| 1 | Participant | Jan 2022 | ||
| 1 | Lead | Sep 2021 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialDelix Therapeutics Competitors
Delix Therapeutics competitors include listed companies like Johnson & Johnson, Shionogi and Eli Lilly, and private ones like NewLimit, MindMaze and BrightInsight.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $3.1B | - | ||
| Publicly listed | $94B | $40B | $651B | 6.8x | ||
| Publicly listed | $3.2B | $1.2B | $16B | 4.4x | ||
| Private | $8M | - | $1.5B | 187.5x | ||
| Private | - | - | $750M | - | ||
| Publicly listed | $65B | $28B | $1.0T | 13.1x |
Delix Therapeutics Public Comps
Delix Therapeutics is still privately-owned, but its public comps include Eli Lilly, Johnson & Johnson, AbbVie, Merck, Roche, Novartis, AstraZeneca, Amgen, Novo Nordisk and Gilead Sciences.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $65B | $28B | 16.5x | 13.1x | 38.7x | 27.0x | |||
| $94B | $40B | 7.2x | 6.8x | 17.0x | 18.3x | |||
| $61B | $17B | 8.7x | 8.1x | 30.6x | 17.6x | |||
| $65B | $28B | 6.3x | 6.2x | 14.7x | 21.0x | |||
| $77B | $26B | 5.0x | 4.9x | 14.6x | 12.4x | |||
| $57B | $22B | 5.5x | 5.5x | 14.2x | 13.3x | |||
| $59B | $19B | 4.8x | 4.5x | 14.6x | 12.7x | |||
| $37B | $17B | 6.8x | 6.5x | 14.8x | 14.4x | |||
This data is available for Pro users. Sign up to see all Delix Therapeutics competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Delix Therapeutics
| When was Delix Therapeutics founded? | Delix Therapeutics was founded in 2019. |
| Where is Delix Therapeutics headquartered? | Delix Therapeutics is headquartered in Boston, MA, United States. |
| Is Delix Therapeutics publicly listed? | No, Delix Therapeutics is a private, VC-backed company. |
| How much funding has Delix Therapeutics raised? | Delix Therapeutics has raised $133M across 4 funding rounds. |
| What was Delix Therapeutics' last funding round? | Delix Therapeutics' last funding round was a $25M Series B in September 2025, led by UC Davis Health Ventures. |
| Who are Delix Therapeutics' investors? | Delix Therapeutics' investors include OMX Ventures, UC Davis Health Ventures, Talent Resources Ventures, Artis Ventures, RA Capital Management and Presight Capital. |
| Which companies are comparable to Delix Therapeutics? | Companies comparable to Delix Therapeutics include NewLimit, Johnson & Johnson, Shionogi, MindMaze, BrightInsight and Eli Lilly. |
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