Pear Therapeutics belongings offered for $6M at public sale after chapter

Belongings of prescription digital therapeutics maker Pear Therapeutics have been damaged up and offered at public sale for $6.05 million after the corporate filed for bankruptcy in April.

In line with the court filing, Pear’s belongings had been cut up between 4 bidders: Digital therapeutics firm Click Therapeutics, Harvest BIO, sleep tech firm Nox Health Group and well being expertise firm Welt

The most important bid of the group got here from Nox Well being, who’ll receive Pear’s belongings associated to Somryst, which makes use of cognitive behavioral remedy for insomnia to coach the mind and physique to sleep. Nox can pay $3.9 million for the belongings. 

Harvest Bio was the profitable bidder of Pear’s Invention Science Fund (ISF) licenses and patents in addition to its belongings associated to schizophrenia, a number of sclerosis and melancholy, main depressive dysfunction and different pipeline belongings. Harvest additionally efficiently bought Pear’s company emblems, PearConnect, reSET and reSET-O belongings. Harvest bought Pear’s belongings for an combination buy worth of $2.03 million. 

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


The corporate hit the public markets in late 2021 by a merger with a particular function acquisition firm, then a well-liked technique of public exit for digital well being companies. However the firm’s inventory worth has generally declined since then. 

In March, Pear announced it was exploring “strategic alternatives,” together with a attainable firm sale, merger or acquisition. 

In a filing with the Securities and Exchange Commission, Pear withdrew its income and working steering for fiscal 2022 and 2023 and introduced it would not maintain a fourth quarter and full-year earnings name. 

Final month, Pear filed for Chapter 11 bankruptcy and introduced it was in search of a sale of its enterprise or belongings however would proceed its scaled-down operations throughout Chapter 11 because it sought a sale, and Pear would use its obtainable money to fund its operations and prices post-petition.

The Boston-based firm’s CEO Corey McCann referenced the filing on LinkedIn, stating, “At this time is a tough day for Pear Therapeutics. We introduced that Pear voluntarily filed for Chapter 11 and can search to promote belongings by a gross sales course of. We additionally introduced a discount in power, together with me. That is definitely not the end result I envisioned once I based Pear in 2013.”

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