Better Therapeutics (acquired by Click Therapeutics)

Better Therapeutics is a prescription digital therapeutics (PDT) startup focused on treating cardiometabolic chronic disease, delivered via a mobile app. The company’s software uses a combination of cognitive-behavioral therapy (CBT) and a treatment algorithm that determines the pace, intensity, and level of support needed to maximize efficacy for each individual to ensure lasting behavioral changes.

The company’s flagship PDT is AspyreRx is designed to provide cognitive behavioral therapy to adults with type 2 diabetes and obtained FDA approval in July 2023 and launched in October 2023. The product is available on a cash-pay basis for a limited time through a smartphone and can be prescribed for a 90-day treatment period for USD 750.

Furthermore, the company has three PDTs in its pipeline including; 1) BT-001, to treat patients with non-alcoholic fatty liver disease, 2) BT-003, to treat hypertension, and 3) BT-004, to treat hyperlipidemia. As of February 2024, all three were in the pilot study phase.

In March 2024, the company terminated its employees, delisted from Nasdaq and is considering strategic alternatives, such as selling the company and/or its assets, or winding down operations.

Key customers and partnerships

In January 2024, the company partnered with Glooko to accelerate adoption of AspyreRx for type 2 diabetes management . Further in February 2024, it entered a rebate agreement with a major pharmacy benefit manager for AspyreRx diabetes treatment.

Funding and financials

In April 2023, the company announced a private placement of USD 6.5 million and the proceeds were used to finance key milestones and extend the company's runway.

For 2022, the company reported a net loss of USD 39.8 million, compared to USD 40.3 million for the same period in 2021. In Q1 2023 , net losses decreased by 3.1% YoY to USD 9.4 million.