EndeavorRx

Digital therapeutics pioneer Akili Interactive Labs goes public, raising $150M+; trades down 49% first day

by

Akili Inter­ac­tive is the lat­est com­pa­ny to go pub­lic via SPAC deal (Boston Busi­ness Journal):

Boston’s Akili Inter­ac­tive Labs Inc. is the lat­est Mass­a­chu­setts-based com­pa­ny to go pub­lic after com­plet­ing a reverse merg­er — in a year of mar­ket tur­moil that saw few local firms pass­ing the thresh­old between pri­vate and pub­lic status.

Shares of Akili start­ed trad­ing on Mon­day on the Nas­daq Cap­i­tal Mar­ket under the new tick­er sym­bol “AKLI” after the com­pa­ny com­plet­ed its pre­vi­ous­ly announced reverse merg­er with Social Cap­i­tal Suvret­ta Hold­ings Corp. I (Nas­daq: DNAA), a spe­cial pur­pose acqui­si­tion com­pa­ny, or SPAC. [Read more…] about Dig­i­tal ther­a­peu­tics pio­neer Akili Inter­ac­tive Labs goes pub­lic, rais­ing $150M+; trades down 49% first day

Digital therapeutics pioneer Akili Interactive plans to go public in mid-2022 at a $1B valuation

by

Pal­i­hapi­tiya-Led SPAC to Merge With Akili in $1 Bil­lion Deal (Bloomberg):

Akili Inter­ac­tive, a start­up that has devel­oped a video game to help treat atten­tion-deficit dis­or­ders in kids, has agreed to go pub­lic through a merg­er with one of Chamath Palihapitiya’s blank-check companies.

The deal, which con­firms a Bloomberg News report, val­ues the com­bined enti­ty at about $1 bil­lion, Akili and Social Cap­i­tal Suvret­ta Hold­ings Corp. I said in a state­ment seen by Bloomberg. It will pro­vide as much as $412 mil­lion in gross cash pro­ceeds, the com­pa­nies said. [Read more…] about Dig­i­tal ther­a­peu­tics pio­neer Akili Inter­ac­tive plans to go pub­lic in mid-2022 at a $1B valuation

Akili Interactive Labs raises $160M in equity and debt to transform cognitive healthcare via prescription videogame treatments

by

Akili rais­es $110m to build its dig­i­tal ther­a­peu­tics pipeline (phar­mafo­rum):

Endeav­or­Rx became the first and so far only approved pre­scrip­tion video game treat­ment in the US when it was cleared by the FDA last year to treat atten­tion-deficit hyper­ac­tiv­i­ty dis­or­der (ADHD), and has also been giv­en a green light in Europe. [Read more…] about Akili Inter­ac­tive Labs rais­es $160M in equi­ty and debt to trans­form cog­ni­tive health­care via pre­scrip­tion videogame treatments

FDA clears first videogame to be prescribed to kids with ADHD: EndeavorRx by Akili Interactive Labs

by

Screen­shot of EndeavorRx

In a land­mark deci­sion, FDA green­lights a video game for kids with ADHD (STAT):

The Food and Drug Admin­is­tra­tion on Mon­day for the first time gave a green light to a game-based ther­a­peu­tic: a video game meant to be pre­scribed to kids with ADHD.

The game, known as Endeav­or­Rx and devel­oped by Boston-based Akili Inter­ac­tive Labs, can now be mar­ket­ed as a way to improve atten­tion func­tion in kids with ADHD as mea­sured by com­put­er­ized test­ing. Physi­cians can pre­scribe it to chil­dren between the ages of 8 and 12 who have an ADHD diag­no­sis and have demon­strat­ed an issue with attention.

The FDA’s move is a land­mark deci­sion in the emerg­ing dig­i­tal ther­a­peu­tics sec­tor: In addi­tion to being the first game to be mar­ket­ed as a ther­a­py for any type of con­di­tion, Endeav­or­Rx is the first dig­i­tal ther­a­peu­tic meant to improve symp­toms asso­ci­at­ed with ADHD, the FDA’s announce­ment said…The game was born in the Uni­ver­si­ty of Cal­i­for­nia, San Fran­cis­co lab of neu­ro­sci­en­tist Adam Gaz­za­ley, and was licensed out by Akili, which pol­ished and test­ed the game in clin­i­cal tri­als. Akili spent the past two years wait­ing on a reg­u­la­to­ry deci­sion from the FDA.

[Read more…] about FDA clears first videogame to be pre­scribed to kids with ADHD: Endeav­or­Rx by Akili Inter­ac­tive Labs