The Public M&A and Life Sciences  teams advised Akili, Inc. (Nasdaq: AKLI) in its definitive agreement with Virtual Therapeutics to form a diversified, leading digital health company, under which Virtual Therapeutics will acquire Akili for $0.4340 per share in cash. The transaction, approved by both of Virtual Therapeutics' and Akili's board of directors, is expected to close in the third quarter of 2024, subject to certain closing conditions, including the tender of a majority of Akili shares into a tender offer to be launched by Virtual Therapeutics and Akili having not less than a specified amount of cash-on-hand, depending on the closing time.

Akili is pioneering the development of cognitive treatments through game-changing technologies. Akili’s approach of leveraging technologies designed to directly target the brain establishes a new category of medicine – medicine that is validated through clinical trials like a drug or medical device but experienced like entertainment. Akili’s platform is powered by proprietary therapeutic engines designed to target cognitive impairment at its source in the brain, informed by decades of research and validated through rigorous clinical programs.

The Goodwin team was led by Joshua Zachariah and Tevia Pollard, and included Jean Lee, Bryan Kultgen, Cynthia Li, Yifeng Yuan, and Gloria Kim (Public M&A), Sarah Ashfaq, Dan Espinoza, Jonathan Burr, Lauren Visek, and Li Chang (Corporate), Sarah Bock, Regina Couto, and Justine Park (Executive Compensation and Benefits), Dan Karelitz and Tyler Mayo (Tax), Koray Bulut and Jenni Wilson (Labor & Employment), Simone Waterbury, John Goheen and Nicholas Pellow (Antitrust), Steven Tjoe (FDA Regulatory), Roger Cohen and Heath Ingram (Healthcare), Caroline Bullerjahn and Christina Ademola (Litigation), Alexandra Lu (IP Litigation), Kizzy Jarashow and Barry Bazian (Restructuring), Jacqueline Klosek and Federica de Santis (Privacy), Jake Osborn and Godze Guckaya (Global Trade), and Shannyn Henke, Natasha Us, Christopher Zhong, and Jacob Margolis (Intellectual Property).

For additional details on the agreement, please read the press release.