Akili Completes $55 Million Financing to Advance Company’s Digital Medicine Platform & Product Pipeline Aimed at Treating C...
May 09 2018 - 4:00AM
Business Wire
Financing led by Temasek with new and existing
investors including Baillie Gifford, Amgen Ventures, M Ventures,
JAZZ Venture Partners, Canepa Advanced Healthcare Funds, and
Brooklands Capital Strategies
Proceeds will advance commercial and
clinical-stage pipeline in ADHD, multiple sclerosis, and
depression
Akili Interactive (“Akili” or “Company"), a leading prescription
digital medicine company developing novel treatments for cognitive
dysfunction, today announced that it has successfully closed a $55
million Series C financing led by Temasek. Other participating
institutional and strategic investors included Baillie Gifford,
Amgen Ventures, M Ventures (the CVC fund of Merck KGaA, Darmstadt,
Germany), JAZZ Venture Partners, Canepa Advanced Healthcare Fund,
and Brooklands Capital Strategies.
The financing follows the positive top-line results in December
2017 from Akili’s multicenter, randomized, controlled pivotal study
of AKL-T01, the Company’s flagship investigational product designed
to treat pediatric attention deficit/hyperactivity disorder (ADHD).
Akili is planning to file AKL-T01 for clearance by the U.S. Food
and Drug Administration (FDA) in the coming months, which would
enable it to be prescribed by physicians as a stand-alone treatment
for children and adolescents with ADHD. If approved, AKL-T01 would
be the first prescription digital treatment for pediatric ADHD.
AKL-T01 is one of several product candidates across Akili’s
pipeline that employs the Company’s patented technology platform.
Proceeds from the financing will be used to advance Akili’s
pipeline of prescription digital treatment candidates, including
AKL-T01, through key regulatory milestones and to prepare for
commercial launch. The funds will also be used to advance product
candidates in depression and multiple sclerosis (MS) to potential
registration trials and to broaden the Company’s product
pipeline.
“We are fortunate to be supported by such experienced investors,
who bring successful long-term track records in innovative
technology, medical device and pharmaceutical investment,” said
Eddie Martucci, Ph.D., Akili’s co-founder and CEO. “We are thrilled
with the vote of confidence in the potential of our technology
platform to redefine healthcare, and we’re excited about the
progress we continue to make towards turning that vision into a
reality for patients.”
In addition to filing lead product candidate AKL-T01 with FDA,
Akili anticipates a number of significant clinical milestones this
year across several products in development. Study results from a
pilot randomized controlled trial (RCT) evaluating AKL-T02 in
high-functioning children with autism spectrum disorders (ASD), are
slated to be presented at the International Meeting for Autism
Research (IMFAR) in May. The company also expects results this year
from a Phase 2 study of AKL-T03 for the treatment of cognitive
dysfunction in adults with depression, and a pilot RCT for the
treatment of cognitive dysfunction in MS. In April 2018, Akili
announced it had been granted patents in the United States and
Japan, protecting the foundational mechanics of these products and
the underlying product platform targeting frontal cognitive
dysfunction.
About Akili
Akili Interactive Labs, Inc. is a prescription digital medicine
company combining scientific and clinical rigor with the ingenuity
of the tech industry to reinvent medicine. Akili is pioneering the
development of digital treatments with direct therapeutic activity,
delivered not through a pill but through high-quality action video
game experiences. Akili is advancing a broad pipeline of programs
built on its patented technology platform to treat cognitive
deficiency and improve symptoms associated with medical conditions
across neurology and psychiatry, including attention-deficit
hyperactivity/ disorder (ADHD), major depressive disorder (MDD),
autism spectrum disorder (ASD) and various inflammatory diseases.
Akili is also developing complementary and integrated clinical
monitors and measurement-based care applications. The company was
founded by PureTech Health (PRTC.L). For more information visit:
www.akiliinteractive.com.
Akili is a founding member of the Digital Therapeutics
Alliance.
Forward Looking Statement
This press release contains statements that are or may be
forward-looking statements, including statements that relate to the
company's future prospects, developments and strategies. The
forward-looking statements are based on current expectations and
are subject to known and unknown risks and uncertainties that could
cause actual results, performance and achievements to differ
materially from current expectations. These statements are not
guarantees of future performance and undue reliance should not be
placed on them. These forward-looking statements are based on
assumptions regarding the present and future business strategies of
the company and the environment in which it will operate in the
future. Each forward-looking statement speaks only as at the date
of this press release. Except as required by law and regulatory
requirements, neither the company nor any other party intends to,
and expressly disclaims any obligation to, update or revise these
forward-looking statements, whether as a result of new information,
future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20180509005488/en/
Akili Interactive Labs, Inc.Julie DiCarlo,
1-800-862-7807julie@akiliinteractive.com
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