Pear Therapeutics revealed yesterday that it agreed to deal commercialization rights of its digital therapeutics to Novartis (NYSE:NVS) division Sandoz.
The company’s reSET substance use disorder therapy became the first prescription digital therapeutic approved by the FDA in September last year. reSET-O, a digital therapeutic designed for people suffering from opioid use disorder, is under review at the FDA.
Financial terms of the deal were not disclosed, but Boston, Mass.-based Pear Therapeutics said the agreement includes an upfront payment, R&D funding, commercial milestones and a profit split on net sales.
“After a competitive evaluation process among potential partners, Sandoz emerged as the best fit to commercialize reSET and reSET-O,” Dr. Corey McCann, president and CEO of Pear Therapeutics, said in prepared remarks.
According to the terms of the deal, Sandoz will assume responsibility for the global commercial launch of both therapies, as well as reimbursement. Pear Therapeutics plans to continue the products’ development and said it will support patients through its digital hub.
reSET, a 12-week therapy, is designed to be used alongside standard outpatient treatment for substance use disorder related to stimulants, cocaine, alcohol and cannabis, according to Pear Therapeutics. The program includes interventions and assessments through a patient’s mobile device. From there, self-reported substance use, triggers, cravings and progress are tracked to the patient’s medical provider through a clinician dashboard.
Earlier this year, Pear Therapeutics raised $50 million to fund development of its digital therapeutics. A number of investors contributed to the round, including Novartis.
