Click Therapeutics is acquiring the assets of Better Therapeutics two months after that digital therapeutics developer announced it would lay off all employees and shut down. Better’s main asset is AspyreRx, an FDA-authorized mobile app for type 2 diabetes.
Better Therapeutics prescription digital therapeutic, AspyreRx, received De Novo FDA authorization for type 2 diabetes. The mobile app digitizes and personalizes cognitive behavioral therapy.
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Better Therapeutics reported that its digital therapeutic for type 2 diabetes met the main goal of a pivotal study. An FDA submission is expected in the middle of this year, followed by additional clinical trials testing digital therapeutics developed for other cardiometabolic disorders.
The startup is developing digital therapeutics that use cognitive behavioral therapy-based programs to address cardiometabolic conditions. It began trading on Nasdaq on Friday.
Digital health startup Better Therapeutics plans to go public through a SPAC merger that would value it at $187 million. The company is currently running a pivotal study to see if its app-based program could be used as a treatment for type 2 diabetes.
"We realized that that the old way of doing things - which was identifying a single point solution and putting that out to members - wasn't going to work," said Bryce Williams, Blue Shield of California's vice president of lifestyle medicine.
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