May 26 Quick Takes: Akili raises $160M to take digital therapeutic to market; plus venture rounds for Engine and Clear, Lyell’s IPO and a $1.4B takeout for Vectura
With $110 million in a series D equity round plus a $50 million credit facility, Akili Interactive Labs Inc. will accelerate its go-to-market strategy for digital therapeutic EndeavorRx to treat ADHD. Backed initially by PureTech Health plc (LSE:PRTC), Akili gained the first-ever FDA approval of a prescription treatment delivered through a video game. Lead investor Neuberger Berman joined Polaris Partners, Mirae Assets, Shionogi & Co. Ltd., New Leaf Venture Partners, Roblox Corp. CEO Dave Baszucki, QUAD Investment Management, Ladera Venture Partners, and Akili's prior investors in the equity round; Silicon Valley Bank supplied the credit facility.
Engine Biosciences Pte. Ltd. will use its $43 million series A round to advance a pipeline of oncology therapeutics discovered with the assistance of machine learning, including treatments for liver, ovarian, colorectal, and breast cancers. Based in Singapore and San Carlos, Calif., Engine raised $10 million in a 2018 seed round. Amy Schulman of lead investor Polaris Partners will take a board seat; the firm joined 6 Dimensions Capital, WuXi AppTec, DHVC, EDBI, Baidu Ventures, Vectr Ventures, Goodman Capital, WI Harper, and Nest.Bio in the round...