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 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
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.