Press Release May 27, 2021

Akili Secures $160 Million in Financing

The Life Sciences team advised Akili Interactive on its $160 million in combined equity and debt financing.

Akili is the maker of EndeavorRx™, the first-and-only FDA-cleared treatment delivered through a video game experience. Indicated to improve attention function in children with ADHD, EndeavorRx is built on the Akili Selective Stimulus Management Engine (SSME™) core technology, a proprietary technology designed to target key attentional control systems in the brain.

This funding will support a go-to market approach that brings EndeavorRx to families and healthcare professionals at scale and expand Akili’s global footprint within attention-deficit/hyperactivity disorder (ADHD) and beyond. The financing will also enable Akili to build on the success of its patented technology platform, which has shown positive results in clinical trials across a number of indications, and further advance its pipeline of prescription digital therapeutics targeting a range of chronic and acute cognitive disorders.

Over the years, a large group of Goodwin lawyers across a variety of disciplines, including corporate/transactional, licensing and collaboration, leveraged finance, FDA and healthcare regulatory, patent prosecution, global trade, employment, executive compensation, and litigation, have assisted Akili as it pioneered its videogame as new class of now FDA-approved medicines.

The Goodwin team for the financing was led by Art McGivern and included Mark Smith and Joseph Flynn (Corporate), Jacob Osborn (Global Trade), and Dan Karelitz (Tax), with invaluable assistance from Coleen Doyle.

For more details, read the press release and articles in Endpoints, Fierce Biotech, and Business Insider.