On December 8, 2020, Pear Therapeutics announced that it has successfully closed an $80 million Series D financing led by SoftBank Vision Fund 2 with participation from existing investors, including 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. The company, a developer of prescription apps to treat addiction and insomnia, will use the proceeds to help support its efforts to secure reimbursement coverage for its three commercial products—reSET and reSET-O for substance and opioid use, and the recently launched Somryst app for chronic sleeplessness—with the goal of forging the first market access pathways for prescription digital therapeutics.
Wilson Sonsini Goodrich & Rosati represented Temasek in the transaction. The team that advised Temasek includes:
Corporate
Barry Taylor
CFIUS
Stephen Heifetz
Melissa Mannino
Regulatory/Antitrust
Chris Williams
For more information, please see Pear Therapeutics’ press release.