Lowenstein Sandler represented Big Health, the leading provider of non-drug digital treatments for mental health, in the acquisition of Limbix, creators of the first, evidence- based digital therapeutic for teens and young adults with symptoms of depression. Since its founding in 2016, Limbix has raised $30 million through its Series A funding round and has built a research-based pipeline of adolescent products.
As a result of the transaction, Big Health's therapeutic portfolio expands to include SparkRx for adolescent depression and an adolescent anxiety product in development, alongside its flagship programs for patients aged 18+: Sleepio, for insomnia, and Daylight, for anxiety. SparkRx, for ages 13+, is designed to overcome common barriers to mental health care access, meeting young people on their smartphones, and is supported by trial data demonstrating a clinically meaningful reduction in depression symptoms. In addition to health care providers, SparkRx will be made available to Big Health's employer, public sector, health systems and health plan customers, and through the company's strategic distribution agreements with pharmacy benefit managers (PBMs), significantly increasing nationwide access. To date, more than 300,000 patients have enrolled in treatment through one of Big Health's digital therapeutics.
Big Health's mission is to help millions back to good mental health by providing safe and effective non-drug treatments for the most common mental health conditions, including insomnia, anxiety and depression. Designed by leading clinical experts, Big Health's digital therapeutics expand access to gold standard care, including behavioral medicine, and are backed by over 80 industry-leading research and 15 randomized controlled trials. By seamlessly integrating across the care pathway, from member engagement to billing via pharmacy benefit managers, Big Health simplifies adoption for employers, payers and patients, providing an inclusive, scalable, and affordable approach without serious side effects.
The Lowenstein deal team included Anthony O. Pergola, Bianka V. Barraza, Kelsey Repka, Darren Goodman, Matthew P. Hintz, Mark P. Kesslen, Nicholas G. Mehler, Brian A. Silikovitz, Kristin V. Taylor, Julie Levinson Werner, James C. Shehan, Taryn E. Cannataro, Manali Joglekar, Oluwaseyi Amorin, Jacqueline Himelfarb, Jenna-Marie Tracy, and Chad M.P. Weeks.