Large Well being acquires prescription PDTx firm Limbix

Digital therapeutics firm Big Health introduced it acquired Limbix, a maker of prescription digital therapeutics aimed toward treating melancholy in teenagers and younger adults. 

Limbix is the creator of SparkRx, a PDTx that makes use of the ideas of cognitive behavioral remedy to handle melancholy in teenagers and younger adults ages 13 to 22. 

The self-guided CBT-based remedy was released in October 2021 as a part of the FDA’s relaxed regulatory requirements for digital well being gadgets treating psychiatric problems throughout the pandemic. 

SparkRx will probably be added to Large Well being’s portfolio, which incorporates Daylight therapeutic for anxiousness and Sleepio for insomnia.

“Limbix and Large Well being share vital alignment in our cultures and in our concentrate on delivering first-line digital therapeutics for a variety of psychological well being circumstances,” Ben Lewis, cofounder and CEO of Limbix, mentioned in an announcement. “Because the business chief, Large Well being is a pure residence for SparkRx, our upcoming product pipeline and our staff to speed up giving younger folks instruments they’ll use themselves to meaningfully profit from clinically-proven digital melancholy therapies,” he added.

THE LARGER TREND

In 2021, Limbix scooped up $15 million in Series A2 funding, bringing its complete increase to $31 million. 

In 2020, the corporate scored $9 million in Series A funding, roughly 4 months after the Palo Alto-based startup was one in all 27 digital well being corporations chosen in MassChallenge HealthTech’s 2020 accelerator class.

Final 12 months, Large Well being scored $75 million in Series C funding, simply two years after receiving $39 million in a Series B raise.

Evernorth, the well being companies arm of insurer Cigna, additionally announced it added 5 packages to its digital well being formulary, together with Large Well being’s Sleepio and Daylight.

In 2020, CVS Health introduced it was adding a handful of digital health apps to its Level Resolution Administration service, together with Large Well being’s Daylight. The retail large mentioned Level Resolution goals to assist CVS Caremark pharmacy advantages administration shoppers enroll in third-party well being apps.