The deal, expected to close in mid-2022, values the 10-year old company around $1 billion.
Getty Images for Vanity Fairkili Interactive, a digital therapeutics company with an FDA-cleared prescription video game to treat ADHD symptoms in kids, will go public in a SPAC deal led by Chamath Palihapitiya.
Akili, which launched in 2011, is operating at the intersection of software and medicine. In 2020, it received FDA clearance for EndeavorRx, which was the first-ever game-based software as a medical device given the greenlight by the FDA. Its indication was to “improve attention function” and symptoms in children between the ages of 8 to 12 with ADHD. Around 11 million people in the U.S. have ADHD, with around 2.1 million between the ages of 8 and 12, according to an.
The company declined to say which insurers are covering the treatment. “We have not disclosed any payor relationships at this time,” spokesperson Julie DiCarlo said in an email. “We expect our treatments will be covered by commercial and government payers in time, and our approach prioritizes expanded access for families to EndeavorRx through our work with payers, while ensuring a path is available for the unique self-pay characteristic of the market.
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Maker Of $295 Prescription Video Game For Kids With ADHD To Go Public In Palihapitiya-Led SPAC DealI am a staff writer at Forbes covering healthcare, with a focus on digital health and new technologies. I was previously a healthcare reporter for POLITICO covering the European Union from Brussels and the New Jersey Statehouse from Trenton. I have also written for the Los Angeles Times and Business Insider. I was a 2019-2020 Knight-Bagehot Fellow in business and economics reporting at Columbia University. Email me at kjenningsforbes.com or find me on Twitter katiedjennings.
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Maker Of $295 Prescription Video Game For Kids With ADHD To Go Public In Palihapitiya-Led SPAC DealI am a staff writer at Forbes covering healthcare, with a focus on digital health and new technologies. I was previously a healthcare reporter for POLITICO covering the European Union from Brussels and the New Jersey Statehouse from Trenton. I have also written for the Los Angeles Times and Business Insider. I was a 2019-2020 Knight-Bagehot Fellow in business and economics reporting at Columbia University. Email me at kjenningsforbes.com or find me on Twitter katiedjennings.
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