Digital Therapeutics Experiencing Moment of Reckoning, Casting Doubt on Their Role in Behavioral Health Care

By the time the pandemic broke out, interest in digital therapeutics (DTx) had reached an all-time high. Investors, pharma giants and even health systems have poured billions into the products promising to change medicine. A few of the pioneers in the space, including Pear Therapeutics, which has several addiction therapeutics, and Akili, which is focused […]

Addiction Startup PursueCare Raises $20M, Acquires Pear Therapeutics’ Tech

Virtual substance use disorder (SUD) provider PursueCare netted $20 million in a series B fundraising round. The Middletown, Connecticut-based company also acquired three software-based digital therapeutics developed by Pear Therapeutics, which filed for bankruptcy in April 2023. Pear’s SUD–focused prescription digital therapeutic (PDT) reSET landed an FDA de novo in 2017. PursueCare previously offered digital […]

Digital Therapeutics Trailblazer Pear Files For Bankruptcy, CEO Resigns

Digital therapeutics trailblazer Pear Therapeutics (NASDAQ: PEAR) filed for bankruptcy on Friday. The Boston-based company said that it will continue to operate on a scaled down model while it looks to execute an expedited sale. In the meantime, the company’s CEO and founder, Dr. Corey McCann, announced that he will be stepping down. Pear Therapeutics […]

Clarity on Digital Therapeutics Reimbursement Could Lead to More Behavioral Health Adoption

After years of reimbursement uncertainty, the digital therapeutics industry is beginning to see newfound clarity. Within the last year, digital therapeutics, which are evidence-based treatments delivered through software interventions to treat or manage a condition, have made inroads with both commercial insurers and Medicaid. Earlier this year, state Medicaid programs in Massachusetts and Oklahoma announced […]

Biden’s National Drug Control Strategy Prioritizes Digital Therapeutics Reimbursement for Substance Use

The Biden Administration is encouraging new digital therapeutics reimbursement strategies in both the public and private sector as part of its National Drug Control Strategy report. In the plan the White House pitches digital therapeutics, evidence-based treatments delivered through software interventions to treat or manage a condition, as a potential tool to help expand access […]

New Reimbursement Codes Are ‘Massive Step in the Right Direction’ for Behavioral Health PDTs

Prescription digital therapeutics providers (PDTs) have been pushing for recognition and acceptance in the health care sector for years. That effort got a major boost thanks to a seemingly minor administrative move from the federal government. In February, the Centers for Medicare & Medicaid Services (CMS) announced the creation of a new reimbursement code for […]

2021’s Largest Mergers and Acquisitions

Here are some of the biggest mergers and acquisitions in the behavioral health industry over the last year. Ginger and Headspace Finalize Merger, Creating $3B Behavioral Health Platform The newly-combined Headspace Health brings together Ginger’s therapy, counseling, and coaching services with Headspace’s mindfulness and meditation offerings. The company will serve more than 100 million customers […]

Massachusetts’ Medicaid to Cover Certain Prescription Digital Therapeutics Offered by Pear Therapeutics Inc.

Last week, Pear Therapeutics announced that MassHealth will reimburse for prescriptions for Pear’s products reSET and reSET-O. The former treats substance use disorder while the latter treats opioid use disorder. Founded in 2013, Pear Therapeutics develops prescription digital therapeutics: or PDTs. The company has successfully received clearance to commercialize three PDTs. The third, other than […]

Pear Therapeutics to Go Public Via SPAC

Pear Therapeutics — which creates clinician-prescribed software to treat behavioral health conditions — is going public by way of a merger with a special purpose acquisition company (SPAC).  The developer of prescription digital therapeutics (PDTs) announced Tuesday that it has entered into a definitive business combination agreement with Thimble Point Acquisition Corp. (Nasdaq: THMA), a […]

Pear Therapeutics Scores $20M

Pear Therapeutics, a manufacturer of digital therapeutics for conditions such as addiction, has raised $20 million in a Series D funding round. Boston-based Pear announced the news Monday. The announcement comes after the company completed an initial Series D funding round in December, raising $80 million. An undisclosed investor, which Pear referred to in a […]