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Digital Therapeutics Company Great Health announced the acquisition limbixa maker of prescription digital therapies aimed at treating depression in adolescents and young adults.
Limbix is the creator of SparkRxa PDTx that uses the principles of cognitive behavioral therapy to treat depression in adolescents and young adults aged 13 to 22.
Self-guided CBT-based treatment has been released in October 2021 as part of the FDA Relaxed Regulatory Requirements for digital health devices addressing psychiatric disorders during the pandemic.
SparkRx will be added to Big Health’s portfolio, which includes Therapeutic Daylight for anxiety and Sleepio for insomnia.
“Limbix and Big Health share a significant alignment in our cultures and in our goal of providing first-line digital therapies for a range of mental health conditions,” Limbix co-founder and CEO Ben Lewis said in a statement. “As an industry leader, Big Health is a natural home for SparkRx, our upcoming product portfolio, and our team to accelerate providing young people with tools they can use themselves to meaningfully benefit clinically proven digital depression treatments,” he added.
THE GREAT TREND
In 2021, Limbix recovered $15 million in Series A2 fundingbringing its total raise to $31 million.
In 2020, the company scored $9 million in Series A fundingabout four months after the Palo Alto-based startup was one of 27 digital health companies chosen in MassChallenge HealthTech’s 2020 accelerator class.
Last year, Big Health scored $75 million in Series C fundingjust two years after receiving $39 million in a Series B raise.
Evernorththe health branch of the insurer Cigna, has also announcement it added five programs to its digital health form, including Big Health’s Sleepio and Daylight.
In 2020, SVC Health announced that he was add a handful of digital health apps to its Point Solution Management service, including Daylight from Big Health. The retail giant said Point Solution aims to help CVS Caremark Pharmacy Benefits Management customers enroll in third-party health apps.
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