Pear Therapeutics develops digital prescription therapeutics (PDTs), including reSET and reSET-O for substance and opioid use disorders and Somryst for chronic insomnia. The company has been integrating digital biomarkers, machine-learning algorithms and sensor-based technologies into its platform. Pear has secured payer coverage decisions, including Massachusetts’ Medicaid program (MassHealth) for reSET and reSET-O, and has conducted studies demonstrating reSET-O’s cost-effectiveness and impact. Financially, Pear added $20 million to a Series D in March, bringing that round to $100 million. Pear is pursuing a public listing via a SPAC merger with Thimble Point Acquisition Corp. and has a PIPE accompanying the deal. Thimble Point’s sponsor had committed $23 million to the PIPE and Pear announced up to $50 million in additional capital from a Thimble Point affiliate ahead of the merger; the PIPE’s minimum gross proceeds are expected to be $175 million. The SEC has accepted Thimble Point’s registration statement and a shareholder vote on the combination was set but delayed to Nov. 30 after the new capital was announced. Pear Therapeutics develops prescription digital therapeutics (PDTs) that are intended to treat disease via software delivered to patients’ mobile devices. The company has three FDA-authorized commercial products—reSET for Substance Use Disorder, reSET-O for Opioid Use Disorder, and Somryst for chronic insomnia—and a broader pipeline of product candidates. Pear says it develops PDTs in a GMP-compliant environment, tests them in randomized controlled trials, and designs them to collect real‑world data for clinicians and payors. The company cites publications showing potential improved health outcomes and decreased treatment costs for users of its PDT reSET-O. Pear is using its Series D financing to accelerate reimbursement coverage for its three FDA-authorized products and to create what it describes as the first market access pathway in the PDT industry. The company’s stated goal is to increase access to PDTs by adding them to standard formularies to reach large U.S. patient populations (citing ~20 million with substance/opioid use disorders and ~30 million with chronic insomnia). Pear Therapeutics develops prescription digital therapeutics (PDTs) and has commercialized three FDA-authorized products: reSET, reSET-O, and Somryst for substance use disorder, opioid use disorder, and chronic insomnia, respectively. The company has built an end-to-end platform to discover, develop, and deliver PDTs and recently launched PearConnect, a virtual care experience combining telemedicine visits with a patient service center for PDTs. Pear says its three commercial products address large U.S. markets (more than 20 million patients for substance and opioid use disorders and over 30 million for chronic insomnia) and are being launched to accelerate revenue growth. The company plans to use new financing to accelerate reimbursement coverage and create the first market access pathway in the PDT industry, and to reinvest proceeds into its pipeline and platform. Pear collaborates with innovators across therapeutic areas including specialty psychiatry and neurology and describes a robust pipeline of product candidates. Pear Therapeutics is a developer of prescription digital therapeutics (PDTs) with a pipeline of software-based therapeutic products and candidates. The company currently has three FDA‑authorized PDTs: reSET for substance use disorder, reSET‑O for opioid use disorder (which received Breakthrough Designation), and Somryst for chronic insomnia (reviewed via 510(k) and FDA’s Software Precertification Pilot Program). Pear aims to advance commercialization of its authorized products and continue developing additional digital therapeutics. The company announced a credit facility intended to support working capital, repayment of existing debt, and general corporate purposes, including commercialization activities. Pear describes itself as focused on delivering clinically validated software therapeutics to improve patient outcomes and provide tools for clinicians and payers. Pear Therapeutics develops prescription digital therapeutics (PDTs) using a biopharmaceutical approach and randomized clinical trials to generate safety and efficacy data for FDA authorization. The company has two FDA-authorized PDTs: reSET for Substance Use Disorder and reSET-O for Opioid Use Disorder. reSET was commercially launched with commercial partner Sandoz (a division of Novartis) in November 2018, and reSET-O received FDA marketing authorization in December 2018 and was the first PDT to receive Breakthrough Designation. Pear's pipeline includes development-stage therapeutics across therapeutic areas, including severe psychiatric and neurological conditions. Its PDTs are intended for use alone or in combination with pharmaceuticals and to be reimbursed by insurers using traditional pharmaceutical/device pathways. Pear plans to use new capital to support global commercialization of the reSET suite, fund its clinical-stage pipeline, and opportunistically acquire additional assets.

Total raised

$334M

Funding rounds

8

Latest round

Equity

Latest activity

Nov 2021