Key highlights
• Significant expected milestone and royalty payments: TALi will receive estimated total milestone payments up to AU$51M (US$37.5M) assuming satisfaction of all milestones with an initial milestone payment of US$2m upon FDA1 clearance (estimated in FY23). In addition, royalties are payable on future sales. See Table 1 for summary of key milestones.
• Access to large and growing US market for cognitive therapeutics: The Attention Deficit Hyperactivity Disorder (“ADHD”) therapeutics market in the US is estimated at US$10B p.a. with over 6M children aged 8-18 in the US diagnosed with ADHD.
• Akili is a global leader in digital therapeutics: Akili commercialised the first FDAcleared and CE-marked video game treatment, EndeavorRx, as a prescription digital therapeutic (PDT) to improve attention function in children aged 8-12 with ADHD. Akili recently completed a US$160M funding round led by top-tier global investment management group, Neuberger Berman Funds.
• Validation provides foundation for additional global partnerships: This transformational deal validates the first-to-market TALi technology platform and opens up the potential for long-term sustainable revenues from the US, and other key global markets where strategic discussions are also progressing.
TALi Digital Ltd (ASX:TD1, “TALi” or “the Company”), a leading digital health business is pleased to announce that it has entered a Strategic Licensing Agreement (“Agreement”) with Akili Interactive Labs, Inc. (“Akili”), a global leader in digital therapeutics. Under the Agreement, Akili will hold an ongoing license to TALi’s market leading technology to become the exclusive commercialisation partner for all paediatric cognition products in the US. The binding agreement is in full effect as of 17 August 2021.
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