HIGHLIGHTS
• Total revenue and income $548,905
• Net loss $4,858,273
• Net cash at bank $2.73 million as at 30 June 2021 (vs $3.95 million as at 30 June 2020)
• Strategic Licensing Agreement with global leader Akili Interactive for US market
• Validation of TALi’s technology provides foundation for additional global partnerships
TALi Digital Ltd (ASX: TD1, “TALi” or “the Company”), a leading digital health business is pleased to announce its results for the 12 months ended 30 June 2021 (FY21).
OPERATIONAL REVIEW
Strategic Licencing Agreement with Akili
During FY21 TALi made significant progress toward the progression of its global partnership strategy, delivering on several key milestones and subsequent to the reporting period announcing a Strategic Licensing Agreement (Agreement) for paediatric cognition products in the US market with Akili Interactive Labs, Inc. (Akili). Post the period an agreement was entered into by the parties (see announcement 18 August 2021) under which TALi will receive AUD$51 million (US$37.5 million) in total future contingent milestone payments plus royalties on potential revenues.
This Agreement is transformational and highly strategic for TALi given the paediatric cognitive treatment market in the US is the largest in the world. In addition, the Agreement provides significant validation for TALi’s technology platform and is expected to provide the foundation for partnerships in other regions.
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