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By Fyllo
The COVID-19 “reset” has accelerated changes in consumer behavior. Sectors like e-commerce and streaming media have seen years of growth unfold in a matter of months. At the same time, categories like restaurants and travel have been effectively shut down.
Without warning, consumer lifestyles based on mobility and experience are now homebound and virtual. Home is where we live, work, learn, play and shop.
The forced behavior change has been tough on the American psyche. Our collective sense of well-being has declined, isolation has grown and increased daily stress and anxiety are the norm.
Home has also become the new frontline for fitness, well-being and prevention. According to The Harris Poll COVID-19 Tracker, nearly half of Americans say they are taking their health more seriously, and that they are struggling to find ways to maintain their whole health (i.e., physical, mental and spiritual) during the pandemic.
Company adds a leading national Integrated Delivery Network (IDN) as a strategic investor.
The financing supports Pear’s continued efforts to expand patient access for its portfolio of Prescription Digital Therapeutics (PDTs), including reSET®, reSET-O® and Somryst® treating addiction and insomnia conditions, respectively.
BOSTON & SAN FRANCISCO–(BUSINESS WIRE)–Pear Therapeutics, Inc., (“Pear” or the “Company”) today announced the second closing of its Series D financing. The second closing included a leading national Integrated Delivery Network (IDN) as a new strategic investor. The national IDN is investing $20 million, bringing the total Series D investment to $100 million.
“Pear is pleased to add one of America’s leading health care providers and health plans to our distinguished list of investors as we continue to expand patient access to our FDA-authorized digital therapeutics,” said Corey McCann, M.D., Ph.D., President and CEO of Pear Therapeutics. �
Eric Sun, Anupam Jena, Tomas Philipson , Darius Lakdawalla, Carolina Reyes, Dana Goldman
Keeping medicine accessible at a reasonable cost is a challenge. An important component of public authorities’ strategies has been to stimulate price competition from generics. Yet a perplexing feature surrounding generic entry is that the price of the other on-patent potential substitutes is barely affected (Jena et al. 2009, Lakdawalla 2018), and their volume market share even tends to increase (Grabowski et al. 2014, Lakdawalla and Philipson 2012, Castanheira et al. 2019). The absence of a price reaction on the part of drugs still benefitting from exclusivity has sometimes led competition authorities to conclude that a single molecule (and not the set of drugs that are used to treat the same condition) may constitute a distinct antitrust market. These findings stirred some controversy.
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