UC Davis Health Ventures, part of the Innovation and Economic Development Office (IEDO) at the University of California, Davis, today announced the first investment from its Investing in the Future of Medicine (IFM) Fund, backing Delix Therapeutics. Delix, a UC Davis spinout, is developing non-hallucinogenic neuroplastogens for major depressive disorder (MDD) and other serious neuropsychiatric and neurodegenerative conditions.
Delix's science originated at UC Davis in the laboratory of Professor David E. Olson. His research separated the therapeutic effects of psychedelics from hallucinogenic properties and led to next-generation, non-hallucinogenic compounds designed to rapidly promote neuroplasticity. Now in clinical trials, Delix's lead candidate DLX-001, Zalsupindole, has reported favorable Phase 1a safety and tolerability, as well as proof of central nervous system engagement using a novel biomarker relevant to neuroplasticity. Furthermore, the company has completed a Phase 1b study in patients with MDD demonstrating that DLX-001 produces rapid, sustained and meaningful reductions in depressive symptoms.
"UC Davis research powered this therapeutic platform and it's energizing to see continued commitment from the university," said Mark Rus, chief executive officer of Delix Therapeutics. "Partners who understand the urgency in MDD and the promise of non-hallucinogenic neuroplastogens are invaluable as we advance Zalsupindole (DLX-001) and the rest of our broad neuroplastogen pipeline."
MDD affects roughly 15 to 20 percent of people during their lifetime and is associated with chronic disability and high costs. Novel, scalable therapeutics that enhance neuroplasticity without hallucinogenic effects could meaningfully expand access to these transformative treatments and improve outcomes for patients who do not respond to existing therapies. For patients who cycle through multiple therapies without relief, Delix's compounds could represent a long-awaited new class of treatment with rapid, robust effects in days not weeks.
"This inaugural IFM investment shows how we can help to diversify UC Davis Health's revenues while backing companies with clinical impact," said Jennifer Doll, chief financial officer for UC Davis Health. "By investing in world-class companies like Delix, we can strengthen our long-term financial position and help bring transformative therapies to patients."
"Our Strategy and Growth office supported creation of the IFM Fund to translate UC discoveries into real-world solutions and to invest in mission-aligned companies," said Ron Amodeo, chief strategy officer for UC Davis Health. "Delix is exactly the type of company we set out to champion: science born at UC Davis and scaled to improve patient lives."
The IFM Fund, launched earlier this year, complements UC Davis' growing innovation and economic development engine, which supports faculty, researchers and students across the Davis and Sacramento campuses. The goal is to create a connected pathway that helps UC Davis innovators advance translational research from early Proof-of-Concept through Pre-seed, Seed and into Series A and B investments in collaboration with external venture partners.
Olson's journey with Delix highlights how this ecosystem advances UC Davis innovations. He received early support through the Science Translation and Innovative Research (STAIR) Grant and the Smart Toolkit for Accelerated Research Translation (START) program, both managed by IEDO's Venture Catalyst team. Those programs and other teams such as the Technology Transfer Office at UC Davis helped him translate his research into a company that has since attracted robust venture support. The IFM Fund investment now brings that journey full circle.
"The IFM Fund strengthens our campus and regional ecosystem by closing early- and later-stage funding gaps and anchoring high-potential companies here," said George Baxter, chief innovation and economic development officer for UC Davis. "It's a durable platform to move breakthroughs from our labs into clinics and markets."
The Delix investment is being made in collaboration with UC Investments, reflecting a UC-wide model that pairs clinical insight with institutional capital. UC Investments manages over $200 billion across endowment, pension and working capital portfolios, enabling strategic co-investment with campus partners.
The University of California holds intellectual property rights related to this innovation and Technology Transfer Office of UC Davis licensed those rights to Delix Therapeutics. Under UC policy, the university and inventors may be eligible to receive a share of licensing income. Any related potential conflicts of interest are reviewed and managed by the university.
About UC Davis Health Ventures and the IFM Fund
UC Davis Health Ventures is the human health innovation and commercialization hub within the Innovation and Economic Development Office. Based at Aggie Square, it connects researchers, clinicians, investors and industry partners to accelerate the development of human health-focused discoveries into market-focused solutions. Health Ventures oversees a collaborative network supporting translational funding programs, industry partnerships, intellectual property commercialization and operates a dedicated Health Venture Studio and Fund.
The IFM Fund is a $25 million funding program managed by Health Ventures to accelerate translation of high-impact innovations and invest in aligned external companies addressing major health needs. It operates alongside the Health Venture Studio at Aggie Square to de-risk UC Davis discoveries for clinical and market adoption.
About Delix Therapeutics
Delix Therapeutics is a clinical-stage neuroscience company focused on harnessing the power of novel neuroplasticity-promoting therapeutics to better treat patients struggling with difficult- to-treat neuropsychiatric and neurological disorders. The company's compounds are easily manufactured small molecules capable of rapidly inducing structural and functional neural changes in targeted areas of the brain. Through its novel Neuroplastogen Platform, Delix is pioneering a new class of fast-acting outpatient pharmacotherapies and rapidly advancing through preclinical and clinical development to bring patients FDA-approved, take-home medicines that are intended to serve several unmet needs and enhance the psychiatric treatment paradigm for patients and providers.
