Pear Therapeutics said this month that it closed a $64 million Series C round led by Temasek.
The Boston-based company plans to use its newly-acquired funds to support the global commercialization of its reSET prescription digital therapeutics and fund its clinical pipeline, as well as buy up additional assets.
Other investors in the round include Novartis (NYSE:NVS), 5AM Ventures and Arboretum Ventures. Pear landed new investors, too, including Blue Water Life Science Fund, Trustbridge Partners and a major diversified hedge fund.
“Pear ended 2018 with a number of major catalysts including commercial launch, product authorization, and pipeline advancement,” president & CEO Dr. Corey McCann said in prepared remarks. “Pear now kicks off 2019 with additional capital to bring PDTs to patients. We look forward to establishing PDTs as a widespread modality for directly treating a range of serious diseases.”
Earlier this week, Pear and Novartis division Sandoz kicked off the U.S. commercial launch of its digital therapy for people with opioid use disorder.
The two companies partnered in April last year on a commercial deal for the prescription digital therapeutics.
