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Option and Collaboration Agreements
12 Months Ended
Dec. 31, 2023
Option And Collaboration Agreements [Abstract]  
Option and Collaboration Agreements

4. Option and Collaboration Agreements

Shionogi & Co., Ltd.

On December 19, 2018, the Company entered into an Option and Collaboration Agreement (the “Collaboration Agreement”) with Shionogi & Co., Ltd (“Shionogi”), whereby the Company granted an option to Shionogi to develop and commercialize licensed digital therapeutic software products in specified territories.

As part of the agreement, Shionogi made an upfront payment to the Company of $10,000 at the date of execution that provided Shionogi up to April 15, 2019 to continue to evaluate the technology. In March 2019, Shionogi exercised its option to license the technology in exchange for another $10,000 cash payment. In connection with Shionogi exercising its option to enter into the Collaboration Agreement, the Company issued a $5,000 corporate bond to Shionogi for cash, with an initial discount estimated to be $3,805 (see Note 9). With the execution of the option, the Company is eligible to receive development and commercial milestones of up to $105,000. In addition, the Company will receive royalties on sales of the licensed products in Japan and Taiwan. In October 2019, the Company and Shionogi entered into a modification scope of work agreement. Shionogi paid the Company an additional fee of $387 as a result of the modification. As all obligations under the Collaboration Agreement were fulfilled, revenue of $24,192 was recognized by the end of 2021. The Company did not recognize any milestones or royalties during the years ended December 31, 2023 and 2022.

TALi Digital Limited

On October 16, 2023, Akili Interactive Labs, Inc., a wholly owned subsidiary of the Company, and TALi Digital Limited mutually agreed to terminate the License, Development and Commercialization Agreement dated as of August 16, 2021 between such parties, effective as of October 16, 2023. As a result of the termination, no additional payments are due to TALi. During the year ended December 31, 2023, the Company did not make any payments for out of pocket costs related to this agreement. As of the termination date, the Company has not made any payments for milestones or royalties related to this agreement.