PureTech Health affiliate Akili raises $13m in Series C extension

Clinical-stage biopharmaceutical company PureTech Health announced on Thursday that its independent affiliate, Akili, has raised $13m in new funding as an extension of its recent Series C financing.

The London-listed firm said the Series C extension brought the total equity financing Akili had raised this year to $68m.

Participating investors included CLSA, Omidyar Technology Ventures, Digital Garage Group, and Fearless Ventures.

PureTech said Akili's initial Series C financing round was led by Temasek and included additional investors Baillie Gifford, Amgen Ventures, M Ventures - the CVC fund of Merck KGaA- JAZZ Venture Partners, Canepa Advanced Healthcare Fund, and Brooklands Capital Strategies.

Akili would use the funds to further advance development and deployment of its pipeline of prescription digital treatment candidates, including its lead product candidate, AKL-T01, through key regulatory milestones and commercial preparations.

Akili also plans to use the funds to advance a number of other digital treatments in development, including major depressive disorder, multiple sclerosis, and various other inflammatory diseases.

“This financing is an additional validation for Akili and further augments their strong cash position as they progress on their path to offer potentially safe, effective, and personalised digital treatments for patients across a range of mental health and neurological conditions,” said PureTech Health president and chief of business and strategy Bharatt Chowrira.