Digital therapeutics (DTx) provider Pear Therapeutics has recently auctioned off its assets for a sum of USD 6.05 million. The assets were divided among four bidders: Click Therapeutics , a fellow DTx developer; Harvest Bio; Nox Health ; and Welt , a Seoul-based DTx developer for insomnia and the spin-off of Samsung.
Nox Health Group, a sleep therapy company, made the highest bid of USD 3.9 million to acquire Pear Therapeutics' prescription digital therapeutic (PDT) for insomnia, known as Somryst. Nox Health Group specifically sought assets connected to Somryst, an FDA-approved insomnia medicine created by Pear Therapeutics.
Harvest Bio acquired various assets from Pear, including licenses and patents from the Invention Science Funds (ISF), as well as assets associated with conditions such as schizophrenia, multiple sclerosis, depression, major depressive disorder, and other projects in the pipeline. In addition, Harvest Bio obtained Pear's corporate trademarks, namely PearConnect, reSET, and reSET-O assets. The aggregate price for these acquisitions amounted to USD 2.03 million.
Click Therapeutics, a developer of various apps targeting migraine, smoking cessation, depression, and other conditions, placed a bid of USD 70,000 for Pear's platform patents, excluding those associated with ISF assets. Welt agreed to acquire Pear's assets related to migraines for a sum of USD 50,000.
Analyst QuickTake: Pear had developed a diverse portfolio of apps aimed at addressing addiction, insomnia, PTSD, chronic pain, irritable bowel syndrome, and other conditions. Among its offerings, the company had three commercially available PDT products, along with an additional 14 products in the early stages of development within its pipeline. Notably, reSET made history as the first FDA-approved PDT for the treatment of substance abuse disorders. Following that milestone, Pear's reSET-O app also gained FDA approval, making it the pioneering PDT for treating opioid use disorder.
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