Pear Therapeutics, a San Francisco, CA- and Boston, MA-based developer of rescription digital therapeutics, closed a $50m Series B financing.
The round was led by Temasek, with participation from new and existing investors 5AM Ventures, Arboretum Ventures, JAZZ Venture Partners, Novartis, Singapore-based EDBI, and the Bridge Builder’s Collaborative.
The company, which received U.S. Food and Drug Administration (FDA) clearance for a prescription digital therapeutic with claims to improve clinical outcomes in a disease, will use the funds to drive continued development and commercialization of its prescription digital therapeutics platform.
Led by Corey McCann, M.D., Ph.D., President and CEO, Pear Therapeutics is to integrate clinically-validated software applications with previously approved pharmaceuticals and treatment paradigms to provide better outcomes for patients, smarter engagement and tracking tools for clinicians, and cost-effective solutions for payers. PEAR’s lead product, reSET®, is an FDA-cleared 12-week interval prescription therapeutic for Substance Use Disorder (SUD) to be used as an adjunct to standard, outpatient treatment. The company’s product development pipeline includes reSET-O™ for opioid use disorder (OUD) and additional prescription digital therapeutics in schizophrenia (THRIVE™), combat post-traumatic stress disorder (reCALL™), general anxiety disorder (reVIVE™), pain, major depressive order, and insomnia, for which Pear intends to obtain FDA clearance.
September 2017, Pear’s lead product candidate, reSET®, became the first prescription digital therapeutic cleared by the FDA for the treatment of substance use disorder. Its second digital therapeutic, reSET-O™, which is designed as an adjunct to pharmacotherapy to treat opioid use disorder, recently received Expedited Access Pathway (EAP) designation from the FDA.