TALi Digital positions itself at centre of global digital therapeutics during September quarter
Health & Biotech
Health & Biotech
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In its latest report for the September quarter, TALi said it is well placed continue to execute its commercialisation and growth strategy through to 2022.
TALi Digital Ltd has positioned itself at the centre of the global digital therapeutics ecosystem, after executing a strategic licencing agreement with Akili Interactive for the United States market during the September quarter.
The agreement will see TALi (ASX:TD1), in partnership with Akili, bring to market a digital therapeutic targeted and labelled for the treatment of attention deficit hyperactivity disorder (ADHD) in children.
Post quarter end, the launch of a full marketing campaign TALi in India has kicked off in combination with additional international partner negotiations.
TD1 had a cash balance of $2.2m at the end of the quarter, while Invest Victoria financing for a $500,000 non-dilutive funding facility as part of the Victorian Governments R&D Cash Flow Loan Initiative ensures it can continue commercialisation objectives.
The R&D cash flow loan initiative is designed to support innovative Victorian companies who are investing in R&D activity to develop products, services, and technologies vital to the State’s future economy.
In its latest quarterly report, TALi said the strategic licencing agreement with Akili Interactive supports its long-term revenue and target of profitability, while providing important validation for additional partner/licence agreements in the sector over future periods.
“The continued strengthening of our go-to-market leadership, initiation of our marketing campaigns in India (that have been delayed by COVID-19), as well as our marketing plans for Australia, New Zealand and Singapore will further assist the company to deliver on commercialisation targets set by the board”, managing director Glenn Smith said.
TALi and Akili have established a clinical development program, and the process to deliver a submission for US FDA marketing approval has also been initiated as per the agreement between the parties.
The program is on schedule with Akili expected to make their first co-development payment to TALi during January – March 2022.
TALi reported net operating cash outflow for Q1 FY22 of $500,000, an improvement from the operating cash outflow of $900,000 in the preceding quarter (Q4 FY21), reflecting the R&D tax incentive received during the quarter ($800,000).
The company says it is well placed continue to execute on its commercialisation and growth strategy without a capital raise and looks forward to providing the market further updates.
This article was developed in collaboration with TALi Digital a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.