Pear Therapeutics property bought for $6M at public sale after chapter


Editor’s notice: This tale has been up to date with more information on Pear’s monetary state.

Property of prescription virtual therapeutics maker Pear Therapeutics were damaged up and bought at public sale for $6.05 million after the corporate filed for chapter in April.

In step with the courtroom submitting, Pear’s property had been cut up between 4 bidders: Virtual therapeutics corporate Click on Therapeutics, Harvest BIO, sleep tech corporate Nox Well being Staff and well being generation corporate Welt

The most important bid of the crowd got here from Nox Well being, which will download Pear’s property associated with Somryst, a prescription virtual healing that makes use of cognitive behavioral remedy for insomnia to coach the mind and frame to sleep. Nox pays $3.9 million for the property. 

Harvest Bio was once the a hit bidder of Pear’s Invention Science Fund (ISF) licenses and patents in addition to its property associated with schizophrenia, a couple of sclerosis and melancholy, primary depressive dysfunction and different pipeline property. Harvest additionally effectively bought Pear’s company logos, PearConnect, reSET and reSET-O property. Harvest bought the property for an mixture worth of $2.03 million. 

Click on Therapeutics bid $70,000 for all Pear’s platform patents, except for the ones associated with the ISF property, and Welt agreed to buy Pear’s migraine-related property for $50,000. 


The corporate hit the general public markets in past due 2021 via a merger with a different function acquisition corporate, then a well-liked way of public go out for virtual well being corporations. However the corporate’s inventory worth has normally declined since then. 

In quarter 3 of 2022, Pear reported $4.1 million in income and a $30.7 million internet loss. The corporate additionally stated it had licensed extra layoffs, affecting 59 workers, or about 22% of Pear’s group of workers on the finish of September. It had up to now laid off 25 employees over the summer time. 

In March, Pear introduced it was once exploring “strategic choices,” together with a imaginable corporate sale, merger or acquisition. 

In a submitting with the Securities and Change Fee, Pear withdrew its income and running steerage for fiscal 2022 and 2023 and introduced it would not cling a fourth quarter and full-year income name. 

Final month, Pear filed for Bankruptcy 11 chapter and introduced it was once searching for a sale of its trade or property however would proceed its scaled-down operations all over Bankruptcy 11 because it sought a sale, and Pear would use its to be had money to fund its operations and prices post-petition.

The Boston-based corporate’s CEO Corey McCann referenced the submitting on LinkedIn, pointing out, “As of late is a hard day for Pear Therapeutics. We introduced that Pear voluntarily filed for Bankruptcy 11 and can search to promote property via a gross sales procedure. We additionally introduced a discount in pressure, together with me. That is not at all the end result I envisioned after I based Pear in 2013.”



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