New investment in Limbix Health, Inc.
DG Daiwa Ventures Inc. invested in Limbix Health, Inc. (hereinafter referred to as “Limbix”), a digital therapeutics (DTx) company that provides an app-based treatment for depression and mental illness for youths.
With the research conducted by the Japanese Society of School Health revealing more than 50% of those suffering from mental illness develop the initial symptoms by the age of 14 and about 75% by the age of 25, the necessity to increase the mental support for adolescence has long been pointed out. In addition, socially isolated environment affected by the COVID-19 pandemic has further increase the awareness of the importance of mental health treatment for children.
Limbix Spark, a cognitive-behavioral therapy smartphone application provided by Limbix, is targeting youths between the ages of 12 and 21 and it aims to provide a new way of treatment for those who have been struggling due to the limited solutions available for mental illness for those age group.
Recently, Limbix has received a $3.6 million Fast-Track SBIR grant from the National Institutes of Health (NIH) and is now starting to conduct a large-scale clinical trial in collaboration with Duke Clinical Research Institute.
DG Daiwa Ventures, together with its co-investors Sequoia Capital (U.S.) and GSR Ventures (U.S.), will assist Limbix, especially in future expansion outside the United States.