Akili Interactive Labs, the company that uses mobile games for cognitive assessment and personalized treatment, has raised $30.5 million to support further development of its product. Also, it plans to use the money to "build a commercial infrastructure" for a potential FDA clearance and product launch in 2017. Several investors, including JAZZ Venture Partners, Canepa Advanced Healthcare Fund and PureTech Health participated in the round.
Akili is currently conducting multiple clinical trials across a variety of patient populations, including pediatric attention deficit hyperactivity disorder (ADHD), autism spectrum disorder, depression, Alzheimer's disease and traumatic brain injury.
"The need for safe and effective treatment of cognitive disorders, including ADHD and autism, continues to grow, and new modalities are needed for millions of patients," Eddie Martucci, Co-founder and CEO of Akili, said in a statement. "We're excited that, with the support of our new and existing investors, we can continue to advance our adaptive software platform towards clinical validation and commercialization as a fundamentally new type of mainstream medicine."
Akili's flagship product, Project: EVO, is mobile game based on a platform technology exclusively licensed from the lab of Dr. Adam Gazzaley at the University of California, San Francisco. Said platform targets cognitive interference processing while adapting difficulty automatically in real-time. This capability, according to Akili, allows individuals of wide-ranging ability levels to interact with the game without the need for physician calibration or additional hardware.
Results of a recent study demonstrated that Project: EVO improved attention, inhibition and working memory in children with ADHD. The next step for Akili is to initiate a large, randomized, controlled pivotal study to further validate the efficacy and safety of Project: EVO as a treatment for pediatric ADHD. Results from this study are expected in 2017, which, if successful, will potentially position Akili for a product launch by year-end 2017.
According to the U.S. Centers for Disease Control and Prevention (CDC), approximately one in 10 children is diagnosed with ADHD.