The Merck Group, Amgen, Shionogi and Digital Garage-backed digital cognitive treatment developer will get a Nasdaq Capital Market listing through the deal.
US-based digital therapeutics developer Akili Interactive agreed yesterday to a $1bn reverse merger with special purpose acquisition company Social Capital Suvretta Holdings Corp 1, marking exits for pharmaceutical firms Merck Group, Amgen and Shionogi & Co.
The deal will benefit from $162m in private investment in public equity (PIPE) financing, consisting of $100m from Social Capital and $62m from drug developer PureTech Health, Suvretta Capital Management, Apeiron Investment Group, Temasek, Jazz Venture Partners, Omidyar Technology Ventires and Evidity Health Capital.
Founded in 2011, Akili is developing digital treatments for cognitive impairments, ostensibly through a video game-like interface designed to activate specific neural systems in order to improve issues such as memory loss, poor concentration and difficulty in making decisions. It is developing treatments for other neuropsychiatric conditions including multiple sclerosis, depression and autism.
Social Capital Suvretta Holdings Corp I floated on the Nasdaq Capital Market in a $220m initial public…
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
