Pear Therapeutics raises $175M and goes public via SPAC deal raising the profile of prescription digital therapeutics

Digital health firm Pear goes public, raising $175 million (pharmaforum): Pear will make its debut on the exchange today after combining with Thimble Point – a special purpose acquisition company (SPAC) – in a deal that sidestepped the conventional initial public offering (IPO) route and has propelled its valuation to around $1.6 billion … Pear specialises in prescription digital therapeutics (DTx) based on cognitive behavioural therapy (CBT) techniques that can delivered remotely to [patients via a digital device. It has three apps approved by the FDA, including reSET and reSET‑O for people living with substance and opioid use disorders, respectively, and a tool for chronic insomniacs called Somryst. The company has predicted it will make around $4 million in revenues from its DTx portfolio in full-year 2021. Last month, Pear reported progress with its latest product – a DTx for alcohol use disorder (AUD) called reSET‑A – claiming breakthrough status from the FDA for the app. It aims to overcome a desperate lack of treatments for a condition estimated to affect around 14 million adults in the US, causing around 95,000 fatalities every year. The Announcement: Pear Therapeutics and Thimble Point Announce Closing of Business Combination to Create Publicly Traded Prescription Digital Therapeutics Company (press release): Pear Therapeutics, Inc. (“Pear Therapeutics”), the leader in developing and commercializing software-based medicines, called prescription...
Source: SharpBrains - Category: Neuroscience Authors: Tags: Uncategorized CBT cognitive behavioural therapy DTx Pear Therapeutics prescription digital therapeutics reSET-O Somryst SPAC Thimble Point Source Type: blogs