Digital medicine company Akili is listed on the Nasdaq Stock Market following a business combination with Social Capital Suvretta Holdings that raised $163 million.
Akili began trading on the Nasdaq on Aug. 22 under the ticker name "AKLI." The $163 million raised by Akili will be used to fund business operations for 24 months and launch the company's digital therapeutic for pediatric attention-deficit/hyperactivity disorder, according to the Aug. 19 Akili news release. The funds will also support the development of other products for neuropsychiatric conditions such as multiple sclerosis and major depressive disorder.
"Today's milestone reflects the combined efforts of the committed Akili team and SCS, who together made this defining moment possible. Millions of people worldwide live with cognitive impairment without effective treatments," CEO of Akili Eddie Martucci, PhD, said. "I am proud of our talented employees — leaders in neuroscience, entertainment and consumer technology — who are propelling Akili's innovative software-based therapeutics forward to deliver an engaging, immersive experience."