Pear Therapeutics (reSET, Somryst)

Pear Therapeutics pioneered prescription digital therapeutics (PDTs), becoming the first company to receive FDA approval for a mobile app treating substance use disorders when reSET was cleared in 2017. The company developed reSET for general substance use disorder, reSET-O for opioid use disorder, and Somryst for chronic insomnia - all using cognitive behavioral therapy techniques. Despite raising over $400 million and significant clinical validation, Pear filed for Chapter 11 bankruptcy in April 2023, citing slow reimbursement adoption and high costs. The company laid off 90%+ of employees and ceased accepting new prescriptions. In December 2023, PursueCare acquired reSET and reSET-O, now offering them for $90 out of pocket. Nox Health Group acquired Somryst. The products remain available to patients through their new owners.