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Pear Therapeutics was sold for parts to four companies for about $6M last week.

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Aug 11, 2023

Pear Therapeutics was sold for parts to four companies for about $6M last week.

Illustration: Lindsey Bailey/Axios Digital therapeutics company Pear

Illustration: Lindsey Bailey/Axios

Digital therapeutics company Pear Therapeutics was sold for parts to four companies for a combined $6.05 million in an auction last week.

Why it matters: Valued at $1.6 billion just two years ago, Pear's fall from grace points to a larger reimbursement challenge for digital therapeutics, Axios' Claire Rychlewski writes.

What's happening: Click Therapeutics, Welt Corp, Harvest Bio and Nox Health Group each acquired bits of the company.

Zoom in: Health and wellness apps developer Click Therapeutics offered $70,000 for the patents behind the Pear Platform for digital therapeutic development.

Catch up quick: Pear, whose therapeutics are designed to address conditions including insomnia and substance use disorder (SUD), was the first to secure regulatory clearance for a prescription digital therapeutic.

How it worked: The company had three digital therapeutics on the market for insomnia, SUD and opioid use disorder (OUD).

Digital therapeutics company Pear Therapeutics was sold for parts Why it matters: What's happening: Zoom in: Catch up quick: How it worked: