Filed under Health · 2023
Pear Therapeutics
2013 - 2023, 10 years old
A prescription digital therapeutics company making FDA-cleared software apps for substance use disorder and insomnia.
Pear got FDA clearance for three prescription digital therapeutics including reSET and Somryst, but insurers refused to reimburse them at scale, leaving the company without a viable payer model. After going public via a $1.6B SPAC in late 2021, the stock collapsed and the company filed Chapter 11 in April 2023, with CEO Corey McCann resigning the same day. The assets were broken up at auction for just six million dollars across four buyers.
- Founded
- 2013-01
- Shut down
- 2023-04-07
- Funding raised
- $396M
- Years alive
- 10
- Founders
- Corey McCann