Pear Therapeutics Inc’s $50 Million Loan Transaction with Perceptive Advisors

Foley Hoag LLP advised Pear Therapeutics Inc on the deal.

Pear Therapeutics Inc closed its $50,000,000 Loan Transaction with Perceptive Advisors, a leading life sciences investment firm.

Pear intends to use the proceeds for working capital, repayment of existing debt, and general corporate purposes, including commercialization activities for the company’s three FDA-authorized PDTs.

Pear has offices in Boston, MA and San Francisco, CA, and 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. Pear’s lead product, reSET, for the treatment of substance use disorder, was the first PDT to receive marketing authorization from FDA to treat disease. Pear’s second product, reSET-O, for the treatment of opioid use disorder, was the first PDT to receive Breakthrough Designation. Pear’s third product, Somryst, for the treatment of chronic insomnia, was the first PDT submitted through FDA’s traditional 510(k) pathway while simultaneously reviewed through FDA’s Software Precertification Pilot Program.

Foley Hoag team included Tom Draper (Picture), David Broadwin, Jennifer Lichtman and Mark Jorgensen.

Involved fees earner: David Broadwin – Foley Hoag; Thomas Draper – Foley Hoag; Mark Jorgensen – Foley Hoag; Jennifer Lichtman – Foley Hoag;

Law Firms: Foley Hoag;

Clients: Pear Therapeutics Inc;

Author: Ambrogio Visconti