The maker of the first and only video game that was approved by the Food and Drugs Administration (FDA) of the United States of America as therapeutic, Akili Interactive has raised $110 million in funding. This will be the fourth round of funding for the company that is now geared to expand its product portfolio. The flagship game of Akili, EndeavourRx was given a green signal by USFDA last year as an ADHD treatment. Later, the European Union also acknowledged the clinical benefits of the game. Lately, doctors have been testing its effects during the post-COVID ‘brain fog’ that negatively impacts the brain’s functioning.
The funding also comes with a $50 million loan facility, making the total funding $160, raising the current equity of the company to $230 million. The Boston-based company plans to release many more digital therapeutics for “a range of chronic and acute cognitive disorders”.
The company’s chief financial officer Santosh Shanbhag believes that this money will enable them to take EndeavorRx to as many appropriate patients for ADHD treatment as possible, advance their core technology, expand their global footprint, and fund research across a wide range of cognitive impairments.
Akili is still researching ways to assist therapies of conditions like depression, multiple sclerosis, autism spectrum disorders, and others.
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