Akili, the maker of EndeavorRx®, the
first-and-only FDA-cleared prescription video game treatment, joins
the ranks of Canva, Microsoft, SpaceX, and more
PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) (“PureTech” or the
“Company”), a clinical-stage biotherapeutics company noted that its
Founded Entity, Akili Interactive Labs, Inc. (“Akili”), a leading
digital medicine company pioneering the development of cognitive
treatments through game-changing technologies, today announced it
has been named to Fast Company’s prestigious list of the World’s
Most Innovative Companies for 2022. This year’s list honors
businesses that are making the biggest impacts on their industries
and culture as a whole and thriving in today’s ever-changing
world.
Akili is developing digital prescription treatments to improve
cognition, developed through a unique collaboration of cognitive
neuroscientists and entertainment and technology designers. The
Akili platform represents a fundamental paradigm shift where
technology is the medicine, designed to target neural networks
critical to cognitive function. The company aims to transform the
user-friendly experiences of digital therapeutics into
clinically-validated treatments for cognitive functions that are
designed to be indistinguishable from high-end entertainment
experiences. With this approach, in June 2020, Akili introduced the
first prescription video game treatment for any disease cleared by
the U.S. Food and Drug Administration (FDA) – a treatment focusing
on attention function for children with
attention-deficit/hyperactivity disorder (ADHD). In addition, Akili
is progressing research across a diverse set of indications,
including treatments for cognitive impairments associated with
major depressive disorder, autism spectrum disorder and multiple
sclerosis.
The full text of the announcement from Akili is as follows:
Akili Named to Fast Company’s Annual List of
the World’s 50 Most Innovative Companies for 2022
Maker of the first-and-only FDA-cleared
prescription video game treatment joins the ranks of Canva,
Microsoft, SpaceX, and more
BOSTON, Mass. March 8, 2022 — Akili Interactive Labs,
Inc. (“Akili”), a leading digital medicine company pioneering the
development of cognitive treatments through game-changing
technologies, today announced it has been named to Fast Company’s
prestigious list of the World’s Most Innovative Companies for
2022.
This year’s list honors businesses that are making the biggest
impacts on their industries and culture as a whole and thriving in
today’s ever-changing world. The companies included have been
recognized for their contributions to some of the most inspiring
accomplishments of the 21st century. To select the honorees, Fast
Company’s editors and writers sought out the most groundbreaking
businesses across the globe.
“We are honored to be recognized by Fast Company as one of the
world’s most innovative companies. Akili was founded with a vision
to create treatments that are both effective and enjoyable,
ushering in a new category of medicine,” said Eddie Martucci,
Co-Founder and Chief Executive Officer of Akili. “We’re committed
to continuing to challenge the status quo by leveraging innovative
technology to positively impact the millions of people living with
cognitive impairments, as we reimagine what medicine should feel
like.”
The World’s Most Innovative Companies is Fast Company’s
signature franchise and one of its most highly anticipated
editorial efforts of the year. It provides both a snapshot and a
road map for the future of innovation across the most dynamic
sectors of the economy.
“The world’s most innovative companies play an essential role in
addressing the most pressing issues facing society, whether they’re
fighting climate change by spurring decarbonization efforts,
ameliorating the strain on supply chains, or helping us reconnect
with one another over shared passions,” said Fast Company Deputy
Editor David Lidsky.
Founded in 2011, Akili is developing digital prescription
treatments to improve cognition, developed through a unique
collaboration of cognitive neuroscientists and entertainment and
technology designers. The Akili platform represents a fundamental
paradigm shift where technology is the medicine, designed to target
neural networks critical to cognitive function. The company aims to
transform the user-friendly experiences of digital therapeutics
into clinically-validated treatments for cognitive functions that
are designed to be indistinguishable from high-end entertainment
experiences. With this approach, in June 2020 Akili introduced the
first prescription video game treatment for any disease cleared by
the U.S. Food and Drug Administration (FDA) - a treatment focusing
on attention function for children with
attention-deficit/hyperactivity disorder (ADHD). In addition, Akili
is progressing research across a diverse set of indications,
including treatments for cognitive impairments associated with
major depressive disorder, autism spectrum disorder and multiple
sclerosis.
On January 26, 2022, Akili entered into a definitive agreement
to become publicly traded via a merger with Social Capital Suvretta
Holdings Corp. I (Nasdaq: DNAA), a special purpose acquisition
company. The transaction is expected to close in mid-2022, subject
to satisfaction of the closing conditions, after which Akili will
be listed on the Nasdaq stock market under the new ticker symbol
“AKLI.”
For the second year in a row, to coincide with the issue launch,
Fast Company will host its Most Innovative Companies Summit on
April 26–27. The virtual, multi-day summit celebrates the Most
Innovative Companies in business and provides an early look at
major business trends and an inside look at what it takes to
innovate in 2022. Fast Company’s Most Innovative Companies issue
(March/April 2022) is available online, as well as in-app form via
iTunes, and on newsstands beginning March 15.
About Fast Company Fast Company is the only media brand
fully dedicated to the vital intersection of business, innovation,
and design, engaging the most influential leaders, companies, and
thinkers on the future of business. Headquartered in New York City,
Fast Company is published by Mansueto Ventures LLC, along with our
sister publication Inc., and can be found online at
www.fastcompany.com.
About Akili Akili is pioneering the development of
cognitive treatments through game-changing technologies. Our
approach of leveraging technologies designed to directly target the
brain establishes a new category of medicine – medicine that is
validated through clinical trials like a drug or medical device,
but experienced like entertainment. Akili’s platform is powered by
proprietary therapeutic engines designed to target cognitive
impairment at its source in the brain, informed by decades of
research and validated through rigorous clinical programs. Driven
by Akili’s belief that effective medicine can also be fun and
engaging, Akili’s products are delivered through captivating action
video game experiences. For more information, please visit
www.akiliinteractive.com.
Additional Information and Where to Find It In connection
with the proposed business combination transaction between Social
Capital Suvretta Holdings Corp. I (“SCS”) and Akili, SCS filed a
registration statement on Form S-4 (as amended, the “Registration Statement”) with the SEC on February
14, 2022, which includes a preliminary prospectus and proxy
statement of SCS, referred to as a proxy statement/prospectus. The
Registration Statement has not yet become effective. When
available, a final proxy statement/prospectus will be sent to all
SCS shareholders. SCS will also file other documents regarding the
proposed transaction with the SEC. SHAREHOLDERS OF SCS ARE ADVISED
TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS
AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH
THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION AS THEY BECOME
AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
Shareholders will be able to obtain free copies of the Registration
Statement, the proxy statement/prospectus and all other relevant
documents filed or that will be filed with the SEC by SCS (when
available) through the website maintained by the SEC at
http://www.sec.gov.
The documents filed by SCS with the SEC also may be obtained
free of charge at SCS’s website at
https://socialcapitalsuvrettaholdings.com/dnaa or upon written
request to 2850 W. Horizon Ridge Parkway, Suite 200, Henderson, NV
89052.
Participants in the Solicitation SCS and Akili and their
respective directors and executive officers may be deemed to be
participants in the solicitation of proxies from SCS’s shareholders
in connection with the proposed transaction. A list of the names of
such directors and executive officers and information regarding
their interests in the proposed transaction between Akili and SCS
are contained in the proxy statement/prospectus. You may obtain
free copies of these documents as described in the preceding
paragraph.
No Offer or Solicitation This communication shall not
constitute a solicitation of a proxy, consent or authorization with
respect to any securities or in respect of the proposed
transaction. This communication shall not constitute an offer to
sell or the solicitation of an offer to buy any securities, nor
shall there be any sale of securities in any states or
jurisdictions in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction. No offering of
securities shall be made except by means of a prospectus meeting
the requirements of Section 10 of the Securities Act or an
exemption therefrom. This press release may be deemed to be
solicitation material in respect of the proposed transactions
contemplated by the proposed business combination between Akili and
SCS.
Forward-Looking Statements This communication may contain
certain forward-looking statements within the meaning of the
federal securities laws with respect to the proposed transaction
between Akili and SCS. These forward-looking statements generally
are identified by the words “believe,” “project,” “expect,”
“anticipate,” “estimate,” “intend,” “strategy,” “future,”
“opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,”
“will continue,” “will likely result,” and similar expressions.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this
communication, including but not limited to: (i) the risk that the
proposed transaction may not be completed in a timely manner or at
all, which may adversely affect the price of SCS’s securities, (ii)
the risk that the proposed transaction may not be completed by
SCS’s business combination deadline and the potential failure to
obtain an extension of the business combination deadline if sought
by SCS, (iii) the failure to satisfy the conditions to the
consummation of the proposed transaction, including the adoption of
the Merger Agreement by the shareholders of SCS and the
satisfaction of the minimum cash condition, (iv) the lack of a
third party valuation in determining whether or not to pursue the
proposed transaction, (v) the inability to complete the PIPE
Investment, (vi) the occurrence of any event, change or other
circumstance that could give rise to the termination of the Merger
Agreement, (vii) the effect of the announcement or pendency of the
transaction on Akili’s business relationships, operating results,
and business generally, (viii) risks that the proposed transaction
disrupts current plans and operations of Akili or diverts
management’s attention from Akili’s ongoing business operations and
potential difficulties in Akili employee retention as a result of
the announcement and consummation of the proposed transaction, (ix)
the outcome of any legal proceedings that may be instituted against
Akili or against SCS related to the Merger Agreement or the
proposed transaction, (x) the ability to maintain the listing of
SCS’s securities on a national securities exchange, (xi) the price
of SCS’s securities may be volatile due to a variety of factors,
including changes in the competitive and highly regulated
industries in which SCS plans to operate or Akili operates,
variations in operating performance across competitors, changes in
laws and regulations affecting SCS’s or Akili’s business, and
changes in the combined capital structure, (xii) the ability to
implement business plans, forecasts, and other expectations after
the completion of the proposed transaction, and identify and
realize additional opportunities, (xiii) the ability of Akili to
successfully commercialize EndeavorRx® and continue to advance its
clinical development pipeline, (xiv) the ability to recognize the
anticipated benefits of the proposed transaction, which may be
affected by, among other things, competition, the ability of the
combined company to grow and manage growth profitably, maintain
relationships with customers and suppliers and retain its
management and key employees, (xv) the evolution of the markets in
which Akili competes, (xvi) the ability of Akili to defend its
intellectual property and satisfy regulatory requirements, (xvii)
the costs related to the proposed transaction, (xviii) the impact
of the COVID-19 pandemic on Akili’s business, (xix) Akili’s
expectations regarding its market opportunities and (xx) the risk
of downturns and a changing regulatory landscape in the highly
competitive industry in which Akili operates. The foregoing list of
factors is not exhaustive. You should carefully consider the
foregoing factors and the other risks and uncertainties described
in the “Risk Factors” section of SCS’s registration on Form S-1
(File Nos. 333-256723 and 333-257543), SCS’s quarterly report on
Form 10-Q for the quarter ended September 30, 2021 filed with the
SEC on November 15, 2021, the Registration Statement on Form S-4,
including those under “Risk Factors” therein, and other documents
filed by SCS from time to time with the SEC. These filings identify
and address other important risks and uncertainties that could
cause actual events and results to differ materially from those
contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and Akili and SCS assume no obligation and do not intend to update
or revise these forward-looking statements, whether as a result of
new information, future events, or otherwise. Neither Akili nor SCS
gives any assurance that either Akili or SCS, or the combined
company, will achieve its expectations.
About PureTech Health PureTech is a clinical-stage
biotherapeutics company dedicated to discovering, developing and
commercializing highly differentiated medicines for devastating
diseases, including inflammatory, fibrotic and immunological
conditions, intractable cancers, lymphatic and gastrointestinal
diseases and neurological and neuropsychological disorders, among
others. The Company has created a broad and deep pipeline through
the expertise of its experienced research and development team and
its extensive network of scientists, clinicians and industry
leaders. This pipeline, which is being advanced both internally and
through PureTech's Founded Entities, is comprised of 25
therapeutics and therapeutic candidates, including two that have
received both U.S. FDA clearance and European marketing
authorization, as of the date of PureTech's most recently filed
Half Year Report and corresponding Form 6-K. All of the underlying
programs and platforms that resulted in this pipeline of
therapeutic candidates were initially identified or discovered and
then advanced by the PureTech team through key validation points
based on the Company's unique insights into the biology of the
brain, immune and gut, or BIG, systems and the interface between
those systems, referred to as the BIG Axis.
For more information, visit www.puretechhealth.com or connect
with us on Twitter @puretechh.
Cautionary Note Regarding Forward-Looking Statements This
press release contains statements that are or may be
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements contained
in this press release that do not relate to matters of historical
fact should be considered forward-looking statements, including
without limitation those statements that relate to expectations
around EndeavorRx, the proposed business combination agreement
between Akili and Social Capital Suvretta Holdings Corp. I (Nasdaq:
DNAA) or matters related thereto, the competitive environment in
which Akili operates, and Akili and PureTech's future prospects,
development plans, and strategies. The forward-looking statements
are based on current expectations and are subject to known and
unknown risks, uncertainties and other important factors that could
cause actual results, performance and achievements to differ
materially from current expectations, including, but not limited
to, those risks, uncertainties and other important factors
described under the caption “Risk Factors” in our Annual Report on
Form 20-F for the year ended December 31, 2020 filed with the SEC
and in our other regulatory filings. These forward-looking
statements are based on assumptions regarding the present and
future business strategies of the Company and the environment in
which it will operate in the future. Each forward-looking statement
speaks only as at the date of this press release. Except as
required by law and regulatory requirements, we disclaim any
obligation to update or revise these forward-looking statements,
whether as a result of new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20220308005440/en/
PureTech Public Relations
publicrelations@puretechhealth.com Investor Relations
IR@puretechhealth.com
EU Media Ben Atwell, Rob Winder +44 (0) 20 3727 1000
ben.atwell@FTIconsulting.com
U.S. Media Nichole Sarkis +1 774 278 8273
nichole@tenbridgecommunications.com
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