Akili Raises Additional $13 Million, Bringing Total Series C Funding to $68 Million
August 09 2018 - 2:00AM
Business Wire
Akili Interactive (“Akili” or “Company"), a leading prescription
digital medicine company developing novel treatments for cognitive
dysfunction and brain-related conditions, has raised $13 million in
new funding as an extension of its Series C financing, which was
announced in May. The additional funds bring the total equity
capital Akili has raised this year to $68
million. Participating investors include CLSA, Omidyar
Technology Ventures, Digital Garage Group (DG Incubation & DG
Daiwa Ventures) and Fearless Ventures. Akili's initial Series C
financing was led by Temasek and included additional investors
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.
“Both Akili and the broader field of digital medicine have been
advancing at a significant pace,” said Eddie Martucci, Ph.D., CEO
of Akili. “This additional backing from investors will help us
significantly drive forward the development and deployment of our
technology platform toward our goal of having a major impact in
millions of patients and toward fulfilling the immense promise of
digital medicine.”
“CLSA’s investments are focused on transformative ideas and
technologies that have the potential to disrupt sectors and
practices. Validated digital medicine is one such area, with
potential to change the industry, especially in treating cognitive
dysfunction,” said Jonathan Slone, CEO of CLSA, Asia’s leading
capital markets and investment group. “Akili is a pioneer in the
field, and we’re excited to support the company’s growth.”
Akili’s digital medicines embed specific stimuli, designed to
engage targeted areas of the brain, into immersive action video
game experiences to treat medical conditions across neurology and
psychiatry. The Company’s lead digital treatment in development,
AKL-T01 in pediatric attention deficit/hyperactivity disorder
(“ADHD”), is now under review by the U.S. Food and Drug
Administration (“FDA”) for marketing authorization following
the Company’s recent filing.
In December 2017, Akili announced positive top-line results of a
multi-center, randomized, double-blind, controlled pivotal study
evaluating the safety and efficacy of AKL-T01. If cleared by FDA,
AKL-T01 would be the first prescription video game to treat a
medical condition and the first prescription digital medicine for
children with ADHD.
Akili has a number of other digital treatments in development
across neurology and psychiatry, including in Major Depressive
Disorder (“MDD”), multiple sclerosis (“MS”) and various other
inflammatory diseases. By the end of 2018, Akili expects results of
both a Phase 2 study in MDD and of a pilot study in MS.
About AkiliAkili 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 a
high-quality action video game experience. Akili is advancing a
broad pipeline of programs to treat cognitive deficiency and
improve symptoms associated with medical conditions across
neurology and psychiatry, including ADHD, MDD, autism spectrum
disorder 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). Akili is a founding member of the Digital
Therapeutics Alliance. For more information on Akili, visit:
www.akiliinteractive.com.
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/20180808005878/en/
Akili InteractiveJulie DiCarlo,
1-800-862-7807julie@akiliinteractive.com
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