Akili Interactive Labs, Inc., a Boston, MA-based company focused on developing clinically validated digital medicine for cognitive assessment and personalized treatment, raised $30.5m in equity funding.
Backers included JAZZ Venture Partners, Canepa Advanced Healthcare Fund and PureTech Health.
The company intends to use the funds for further clinical development of its late-stage products and building a commercial infrastructure for a potential U.S. Food and Drug Administration (FDA) clearance and product launch in 2017.
Led by Eddie Martucci, Co-founder and Chief Executive Officer, Akili develops mobile software-based treatments and monitors that are designed to function as action video games. The company intends to develop its products in drug markets, starting in pediatric ADHD. Its lead product candidate, Project: EVO, is based on a platform technology exclusively licensed from the lab of Dr. Adam Gazzaley at the University of California, San Francisco.
Akili is currently conducting multiple clinical trials of its digital medicine platform across a variety of patient populations, including pediatric attention deficit hyperactivity disorder (ADHD), autism spectrum disorder (in strategic collaboration with Autism Speaks), depression, Alzheimer’s disease (in strategic collaboration with Pfizer, Inc.) and traumatic brain injury.