Pear Therapeutics (Nasdaq:PEAR) announced today that it entered an agreement to develop a Japanese-language digital therapeutic.
Boston-based Pear struck a deal with SoftBank, a Japan-based communication and information technology service provider, to develop the digital therapeutic for the treatment of sleep/wake disorders on the Japanese market.
Pear Therapeutics markets the Somryst prescription digital therapeutic (PDT) in the U.S. The company designed Somryst to address the underlying issues of chronic insomnia by delivering cognitive behavioral therapy for insomnia (CBTi), training the body to sleep.
The nine-week PDT can be used on a mobile device as the only FDA-authorized therapeutic that delivers guideline-recommended first-line treatment for chronic insomnia. Last week, the company shared data from two studies that highlight Somryst’s effectiveness.
Pear’s strategic partnership with SoftBank will see the company develop digital therapeutic applications for treating sleep/wake disorders in Japan, with SoftBank set to investigate the Japanese market potential for such applications. SoftBank also has an option to negotiate an exclusive license for Pear’s digital therapeutics for sleep/wake disorders in Japan.
“Our agreement with SoftBank supports our mission to bring digital treatment options to patients outside of the United States. The Japanese market has a large unmet need in treating people with sleep disorders,” Pear President and CEO Dr. Corey McCann said in a news release. “This opportunity fits squarely in our strategy to bring our PDTs to patients around the globe.”
BTIG analyst Marie Thibault said in a report that, while it remains unclear over whether a Japan-specific digital therapeutic would require regulatory approval, there is encouragement from the fact that Pear has taken steps to expand its presence in international markets.