Limbix is a digital therapeutic developer focused on treating adolescent mental health conditions. The company is running clinical trials for its flagship product, Limbix Spark, as of April 2022. The product comprises a multi-week, self-guided, app-based cognitive behavioral therapy program where patients complete activities that provide a feeling of gratification and mastery to reduce symptoms of depression. The company sought feedback from focus groups of teenagers regarding the interface design, including the color scheme and avatar, when developing Limbix Spark.
Founded in 2016, California-based Limbix plans to seek US Food and Drug Administration approval in 2022 and position itself as the first prescription-based digital therapeutic treatment for adolescent depression. In February 2021, the company received a grant of USD 3.6 million from the National Institute of Mental Health to study the efficiency and safety of Limbix Spark in collaboration with the Duke Clinical Research Institute over a three-year period.
Funding and financials
The company concluded a USD 15 million Series A2 funding round led by GSR Ventures that brought total funds raised to USD 31 million. The latest funding follows the company’s Series A round of USD 9 million in May 2020. The funds will be used to commercialize its SparkRx prescription digital therapeutic (PDT) which was launched in October 2021. Additionally, it plans to double its staff cadre by Q2 2022 and expedite the development of new PDTs focusing on additional treatments for mental health needs in pediatrics. The funding round also follows its recent announcement that a clinical trial had demonstrated a statistically significant reduction in depression symptoms in users who completed the program as recommended.
In July 2023, the company was acquired by Big Health for an undisclosed amount.
No investor data is available
By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.