Akili Interactive closes $55m Series C

Akili Interactive said today it closed a $55 million Series C round of financing to help support its novel digital treatments for cognitive dysfunction. The round was led by Temasek and joined by Baillie Gifford, Amgen Ventures, M Ventures, Jazz Venture Partners, Canepa Advanced Healthcare Fund and Brooklands Capital Strategies, the Boston-based company said. Akili said that the Series C round follows the release of top-line results from a study of the company’s AKL-T01 flagship investigational product designed to treat pediatric attention deficit/hyperactivity disorder, released last December. The company said it plans to file for FDA clearance for AKL-T01 in the coming months, seeking indications as a stand-alone treatment for children and adolescents with ADHD. If approved, the system would be the first prescribed digital treatment for pediatric ADHD. Funds from the Series C will support Akili’s pipeline of prescription digital treatment candidates through key regulatory milestones and into commercial launch, as well as to advance product candidates that look to treat depression and multiple sclerosis. “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. 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 toward...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Neurological Software / IT Akili Interactive Labs Source Type: news