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

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. Led by Chief Executive Officer Eddie Martucci, Akili has developed the video game that can be prescribed to improve the attention of children with attention-deficit hyperactivity disorder, also known as ADHD. The FDA-cleared treatment known as EndeavorRx is set to launch later this year, the company said. “Our type of medicine is pretty unique in that it’s developed as a rigorous medicine, taken through the FDA, prescribed by doctors, but it’s delivered as an entertainment product,” Martucci said in an interview. “It’s about a patient no longer feeling like a patient but actually enjoying what they’re doing and having fun.” The Announcement: Akili Interactive, a Leader in Digital Medicine, to Become Publicly Traded Through Combination with Social Capital Suvretta Holdings Corp. I (press release): Cognitive impairments – including poor concentration, memory loss, difficulties learning new skills, and difficulti...
Source: SharpBrains - Category: Neuroscience Authors: Tags: Attention & ADD/ADHD Brain/ Mental Health Technology & Innovation Akili Interactive attention deficit hyperactivity disorder Chamath Palihapitiya cognitive-impairments digital therapeutics EndeavorRx FDA neuropsychiatric neuropsychia Source Type: blogs