“Boston- and San Francisco-based Pear Therapeutics, maker of a prescription digital therapeutic platform, announced today the closure of $50 million in Series B funding. The round was led by Singapore-based investment company Temasek, with participation from returning investors 5AM Ventures, Arboretum Ventures, and JAZZ Venture Partners, as well as new partners Novartis, EDBI, and the Bridge Builder’s Collaborative…Pear is best known for reSET, the first prescription digital therapeutic cleared by the FDA for substance use disorder, and reSET‑O, an adjunct to pharmacotherapy for treatment of opioid use disorder that has received Expedited Access Pathway designation from the FDA. While a substantial portion of the most recent funding will be put toward commercializing these offerings, Chief Commercial Officer Alex Waldron said that it was the company’s larger platform that caught investors’ eyes.
“Pear is a company that has a digital platform with proprietary software and innovation that allows us to create therapeutic products … to treat numerous different disease classes,” he told MobiHealthNews. “Now that we have reSET and reSET‑O and we’re moving towards commercializing those products, we’re going to be using the Series B money to move our pipeline forward; to bring additional prescription digital therapeutics to patients with an assortment of diseases where our platform can help them by providing efficacy-based outcomes.”
News in Context
- Five reasons the future of brain enhancement is digital, pervasive and (hopefully) bright
- 2017 SharpBrains Virtual Summit: Brain Enhancement in the Digital Age (December 5–7th, 2017)
- The FDA creates new Digital Health unit to reimagine regulatory paths in the age of scalable, AI-enhanced innovation
- Presentation by Dr. Corey McCann, CEO of Pear Therapeutics, and others, during the 2016 SharpBrains Virtual Summit: