Novartis, Pear collaborate on digital therapeutics
Pear Therapeutics Inc. (Boston, Mass.) and Novartis AG (NYSE:NVS; SIX:NOVN) partnered to develop Pear's THRIVE technology as a prescription digital therapeutic to treat schizophrenia and multiple sclerosis (MS). Pear said the deal includes research funding, upfront and milestone payments and royalties on net sales, but declined to disclose details. As part of the collaboration, Novartis participated in Pear's $50 million series B round in January.
Pear Chief Commercial Officer Alex Waldron told BioCentury that Pear will develop the digital coding side of the therapeutic while Novartis will be responsible for clinical development. They will be working with FDA to determine the best clinical and regulatory pathway for the digital therapeutic...