Prescription digital therapeutics startup Pear Therapeutics announced an $80 million Series D round this morning headed by SoftBank Vision Fund 2.
The raise included funds from new backers Forth Management, Pilot House, Sarissa Capital, Shanda Group and QUAD Investment Management, as well as from returning investors Temasek, 5AM Ventures, Arboretum Ventures, JAZZ Venture Partners, Novartis,...
Editor's Note: This story has been updated with additional quotes from Pear Therapeutics.
The poster child of digital therapeutics-pharma collaborations is soon to be no more, as Novartis division Sandoz announced that it is handing sole responsibility for the commercialization of the reSET and reSET-O prescription digital therapeutics back to Pear Therapeutics.
“Pear and Sandoz previously signed...
The pharma industry has become increasingly interested in the digital health space over the last few years, but this quarter numerous projects that have been in the works for years have finally came to fruition. For instance, Pear's reSET, the first digital therapeutic cleared by the FDA, was recently launched to commercial markets.
But that wasn’t the only advance in the space as pharma...
Novartis' recently-opened digital health innovation lab in San Francisco. Photo courtesy Novartis on Twitter.
Last month, Novartis announced that it would be cutting 2,200 jobs as part of a restructuring of the company focusing on particular priorities.
“The overall strategy we have is to focus the company as a leading medicines company powered by digital technologies,” CEO Vas Narasimhan told STAT News last month. “What that has meant is to exit certain health care sectors or segments … — so we exited...
reSET — a substance use disorder treatment that was the first software-only therapeutic cleared by the FDA — is now commercially available for clinicians to prescribe to their patients, according to a release from Pear Therapeutics and Sandoz, a division of Novartis with which Pear partnered back in April.
But while physical prescription drugs are usually handled through a pharmacy, the process...
From syringes to workflow management systems, healthcare is no stranger to adopting new technologies into standard care. As digital and connected technologies continue to stake their claim in the industry, the last few years have seen the rise of a new type of health technology product — one that promises measurable health outcomes validated by traditional clinical trials.
“You had a little...
