Pear Therapeutics said today that it closed a $50 million Series B round to help commercialize its prescription digital substance abuse therapies. Temasek led the round and was joined by 5AM Ventures, Jazz Venture Partners, Novartis (NYSE:NVS) and others.
In September, the company’s reSET therapy became the first prescription digital therapeutic approved by the FDA. One month later, it’s reSET-O therapy, designed as an adjunct to pharmacotherapy for people with opioid use disorder, won expedited access pathway designation from the FDA.
Pear reported that it plans to use its newly-acquired funds to develop and commercialize reSET and reSET-O, as well as software-based treatments for schizophrenia, combat post-traumatic stress disorder, general anxiety disorder, pain, depression and insomnia.
“At Pear, 2017 was a year filled with noteworthy achievements. Our team made significant strides in advancing our pipeline of prescription digital therapeutics. We plan to use this additional capital to substantiate the clinical efficacy of our therapeutics across a variety of indications,” president & CEO Dr. Corey McCann said in prepared remarks.
“This latest financing recognizes the strides we’ve made in proving the clinical utility and commercial viability of prescription digital therapeutics.”