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Pear Therapeutics raises $50M to develop and market a portfolio of digital therapeutics for mental health

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Pear Ther­a­peu­tics rakes in $50M to devel­op addi­tion­al dig­i­tal ther­a­peu­tics (Mobi­Health­News):

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.”

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