Akili Interactive Labs, which has been developing a video game to treat children who have Attention Deficit Hyperactivity Disorder (ADHD), has raised a fresh $11.9m from new investors M Ventures and Amgen Ventures. It has now raised $42.4 million for the product.
The Telegraph reported that the video game, called Project Evo, is presently in its final series of clinical trials, the results of which are expected to be ready by the first half of next year. Should the trials be successful, the next step is to seek approval from the United States Food and Drug Administration (FDA) by the end of 2017. Project Evo is reportedly the first drug of its kind if it gains approval.
Medical video game maker raises $11.9m as it seeks... https://t.co/Ldx4kXDJDf #structure_business_companies #storytype_standard #EONOMICS
— Fortis Animus (@FortisAnimus) July 20, 2016
Project Evo, A Video Game To Treat ADHD, Alzheimer's
According to a report in Mobi Health News, users of Project Evo play the game using an alien avatar and go through a course by tilting their mobile device back and forth. In Project Evo's course, there are targets that the player should respond to by tapping the mobile device' screen. It reportedly tracks the player's movement, monitors the player's behavior and adapts to the player.
The report also said that Project Evo is also designed to treat Alzheimer's disease. Akili Interactive Labs reportedly entered into a joint effort with Pfizer to examine Project Evo's impact on Alzheimer's disease two years ago.
The Potential Of Digital Medicine
"We're excited to see M Ventures and Amgen Ventures commit to the development of digital medicine, and we're proud to be M Ventures' first investment in the space," said Eddie Martucci, Ph.D., Co-founder and Chief Executive Officer of Akili, as per Business Wire, as posted in Yahoo. Akili is the daughter company of Puretech Health, a biotechnology company.
Roel Bulthuis, Managing Director of M Ventures, was quoted as saying that "digital medicine is the next frontier in healthcare." The Telegraph said that the fundraising deal is one of the biggest to date in the field of digital medicine.
