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PureTech Health founded entity Akili enters licensing deal with TALi worth $37.5m
StockMarketWire.com
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Clinical-stage biotherapeutics company PureTech Health's founded entity Akili Interactive has entered a strategic licensing agreement with Australian digital health company TALi, which will license TALi's technology for use in the US in a deal estimated at $37.5 million in future contingent milestone payments plus royalties.
PureTech Health said that the license is intended to build on the companies' collective clinical development experience and Akili's success in bringing EndeavorRx, which is a prescription video game treatment, through the US regulatory process and to market.
The deal is estimated at $37.5 million in future contingent milestone payments plus royalties on potential revenues, while the terms of the agreement are structured to leverage each organisation's expertise.
The agreement means that Akili will expand its leadership in prescription digital therapeutics for cognitive impairments.
According to PureTech Health, TALi's technology builds on Akili's product portfolio and complements its flagship product EndeavorRx, which is FDA-cleared to improve attention function in children ages 8-12 with ADHD.
Akili co-founder and chief executive Eddie Martucci said: 'Focused on early childhood intervention targeting attention, TALi's impressive technology is an ideal addition to Akili's portfolio.
'We are committed to changing the way people think about medicine, and strategic agreements like this will allow us to expand our vision to treat cognitive impairments in entirely new ways and usher in the next generation of digital therapeutics.'
At 1:41pm: (LON:PRTC) Puretech Health PLC share price was 0p at 282p
Story provided by StockMarketWire.com
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