Foley Hoag LLP represented Pear Therapeutics, Inc., a pioneer of prescription digital therapeutics (PDTs), in closing an $80 million Series D Financing led by SoftBank Vision Fund 2, with participation from existing investors Temasek, 5AM Ventures, Arboretum Ventures, JAZZ Venture Partners, Novartis, CrimsoNox, and EDBI, and new investors Forth Management, Pilot House, Sarissa Capital, Shanda Group, and QUAD Investment Management. Pear plans to use the funds to accelerate reimbursement coverage for its three commercial products, creating the first market access pathway in the PDT industry.
Pear, with offices in Boston, MA and San Francisco, CA, is the leader in PDTs. The company aims to redefine medicine by discovering, developing, and delivering clinically validated software-based therapeutics to provide better outcomes for patients, smarter engagement and tracking tools for clinicians, and cost-effective solutions for payers. Pear has a pipeline of products and product candidates across therapeutic areas, including the first three PDTs with disease treatment claims from FDA.
Foley Hoag attorneys David Broadwin, Terry Martland, Stacie Aarestad, Jennifer Lichtman, Anna Snook, Ehud (Udi) Ben Ari and Mark Jorgensen represented Pear in the transaction.