AKLI Profile
Akili Inc. (AKLI) is a publicly traded biotechnology company based in Boston, Massachusetts, that specializes in developing digital therapeutics for the treatment of cognitive disorders. It is listed on the Nasdaq exchange under the ticker symbol AKLI.
The company's flagship product is EndeavorRx, which is the first-ever prescription video game designed to improve attention function in children with attention deficit hyperactivity disorder (ADHD). EndeavorRx was granted clearance by the US Food and Drug Administration (FDA) in 2020, making it the first-ever digital therapeutic to receive such clearance. The company is also developing other digital therapeutics to address cognitive disorders such as autism spectrum disorder and multiple sclerosis.
Akili was founded in 2011 by a team of neuroscientists, game designers, and technologists who shared a vision of using video game technology to improve cognitive function. Since then, the company has raised over $220 million in funding from a range of investors, including venture capital firms, healthcare companies, and government agencies.
In addition to its core product offerings, Akili has also entered into strategic partnerships with other healthcare companies and organizations. For example, in 2019, the company announced a partnership with Shionogi & Co., Ltd. to develop and commercialize digital therapeutics for the treatment of ADHD and other cognitive disorders.
As of February 2023, Akili has a market capitalization of approximately $1.5 billion, and its stock price has seen significant volatility since its IPO in 2020. The company faces competition from other digital therapeutics companies, as well as traditional pharmaceutical companies that are developing drugs to address cognitive disorders. However, Akili's unique approach to using video game technology to improve cognitive function has the potential to disrupt the traditional treatment landscape for these conditions.
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