• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

Drug Delivery Business

  • Clinical Trials
  • Research & Development
  • Drug-Device Combinations
  • FDA
  • Pharmaceuticals
  • Policy

Better Therapeutics secures $50M debt facility for digital diabetes treatment tech

August 25, 2021 By Sean Whooley

Better TherapeuticsBetter Therapeutics announced today that it secured a loan debt facility worth up to $50 million from Hercules Capital.

The debt facility provides up to $150 million in total financing when combined with the proceeds from going public through a $113 million merger with SPAC Mountain Crest Acquisition Corp II and a PIPE investment.

According to a news release, the San Francisco-based company plans to use the latest funds to support the advancement of its clinical pipeline and the commercialization of its first prescription digital therapeutic (PDT) for treating type 2 diabetes.

Better Therapeutics develops BT-001, an investigational, prescription digital therapeutic (PDT) designed to deliver a novel form of cognitive-behavioral therapy to patients with uncontrolled Type 2 diabetes. The company also has further PDTs for cardiometabolic disease in the pipeline.

“This transaction comes on the heels of an eventful few months, including the announcement of our pending SPAC merger and concurrent PIPE financing, as well as the initiation of our potentially pivotal study in type 2 diabetes,” Better Therapeutics co-founder & CEO Kevin Appelbaum said in the release. “This debt financing will further strengthen our balance sheet as we develop BT-001 and advance our pipeline of additional PDTs for other behavior-driven cardiometabolic diseases.”

Filed Under: Business/Financial News, Diabetes, Drug-Device Combinations, Featured, Funding Roundup, Technology Tagged With: Better Therapeutics

IN CASE YOU MISSED IT

  • Senseonics closes public offering, private placement with Abbott
  • Embecta eyes shift from insulin delivery to broader medical supplies focus
  • Medtronic earns expanded CE mark for Prevail paclitaxel-coated balloon
  • Sequel Med Tech to pair automated insulin delivery system with Abbott’s future dual glucose-ketone sensor
  • Medtronic to separate Diabetes business unit

About Sean Whooley

Sean Whooley is an associate editor who mainly produces work for MassDevice, Medical Design & Outsourcing and Drug Delivery Business News. He received a bachelor's degree in multiplatform journalism from the University of Maryland, College Park. You can connect with him on LinkedIn or email him at swhooley@wtwhmedia.com.

Primary Sidebar

“ddb
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest news and trends happening now in drug delivery.

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.

Footer

Drug Delivery Business News Logo

MassDevice Medical NETWORK

MassDevice
DeviceTalks
Medical Tubing + Extrusion
Medical Design & Outsourcing
MedTech100 Index
Drug Discovery & Development
Pharmaceutical Processing World
Medical Design Sourcing
R&D World

DRUG DELIVERY BUSINESS NEWS

Subscribe to Drug Delivery’s E-Newsletter
Advertise with us
About
Contact us
Privacy
Listen to our Weekly Podcasts

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy | RSS