Pear Therapeutics was once regarded as a digital therapeutics pioneer, but its spiral into bankruptcy has the industry searching for the best path forward. While some favor going direct to consumers, others say the solution is in generating more robust clinical trial data to persuade hesitant payers.
One of the fastest-growing frontiers of healthcare is Digital Therapeutics (DTx), which utilizes clinically tested software to prevent, treat, and manage a growing range of medical conditions. During Covid-19, governing agencies loosened regulatory requirements and increased incentives for DTx. Fortunately, this propelled innovation, and transitioned DTx from up-and-coming to a high-demand field. The goal was […]
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
Pear Therapeutics’ Chapter 11 bankruptcy filing follows three corporate restructurings and the inability to secure additional financing to support commercialization of its FDA-cleared prescription digital therapeutics. An auction of Pear’s assets is expected to happen in early May.
Pear Therapeutics isn’t meeting the commercialization goals for its prescription digital therapeutics, so it’s now seeking strategic alternatives for the business. Prospective buyers can pick up Pear’s FDA-cleared products for substance use disorder, opioid use disorder, and insomnia.
Pear Therapeutics is implementing a corporate restructuring projected to save about $28 million. The goal is to extend its available cash as the company presses on with commercialization efforts for its digital therapeutics.
The company got a breakthrough device designation for its app-based program for alcohol use disorder, reset-A. Pear currently has FDA-cleared digital therapeutics to address opioid use and substance use disorders.
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
Digital therapeutics startup Pear Therapeutics struck a deal to go public through a blank-check acquisition that would value the company at $1.6B. But it still faces big challenges in selling its app-based treatments.
EtectRx, which makes wireless sensors embedded in medications, struck a partner with Pear Therapeutics. The companies hope to build products together combining medication adherence data with digital therapeutics.
SoftBank’s second Vision Fund led the recent funding round. Pear plans to use it to accelerate reimbursement coverage for its three FDA-cleared products.
After receiving FDA clearance in March, Pear began marketing its prescription digital therapeutic for insomnia. It’s available by prescription only.
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Lightened regulations and cancelled appointments have led to an uptick in the number of patients using digital therapeutics. But companies still face many of the same obstacles as before, including securing coverage and reimbursement from insurers.
Recent moves by the Food and Drug Administration have given digital health companies a big boost during the Covid-19 pandemic. The FDA gave Livongo an emergency use authorization to allow its blood glucose monitors to be used in hospitals, and has loosened requirements around the use of digital tools for mental health.
Pear Therapeutics received market authorization from the FDA for its insomnia digital therapeutic, Somryst. It is Pear’s third product to receive FDA clearance, and the first product to be reviewed under the FDA's new software precertification pilot program.
Healthcare startups saw smaller amounts of investment after a record-breaking 2018, according to a report from Silicon Valley Bank. Despite the dip in funding, 2019 saw more deals overall, led by increased investment into healthcare technology companies.
Digital health companies faced bad news going into 2020, from job cuts to dissolving pharma partnerships. But these struggles are part of an industry that is finding its identity in a crowded healthcare market.