Better Therapeutics terminates staff as it seeks alternative options

Better Therapeutics (Nasdaq:BTTX) announced today that it is terminating its employees and will explore strategic alternatives.

Among those alternatives, the company could consider assignment for the benefit of creditors and/or a wind-down of the company. The San Francisco-based digital therapeutics maker came to the decision at a special meeting of its board on March 13.

It faces a similar fate to fellow digital therapeutic maker Pear Therapeutics, which scaled down operations after filing bankruptcy last year.

Better Therapeutics previously faced delisting from the Nasdaq market unless it regained compliance before a hearings panel. It now voluntarily requests the delisting and expects that to occur in the near term.

The decision to shut up shop follows an up-and-down stretch for the company, which managed multiple regulatory milestones recently. Its AspyreRx offering became the first cognitive behavioral therapy (CBT) to receive FDA authorizati…

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Better Therapeutics wins FDA breakthrough nod for liver disease-treating digital therapeutic

Better Therapeutics (Nasdaq:BTTX) announced today that the FDA granted breakthrough device designation for its MASH treatment.

The company’s prescription digital therapeutic (PDT) delivers novel cognitive behavioral therapy (CBT). It aims to treat adults with metabolic dysfunction-associated steatohepatitis (MASH), formerly known as NASH.

This novel form of CBT targets the lifestyle behaviors known to cause and/or contribute to the progression of metabolic diseases. The company developed its platform to address the current gap in broadly accessible and standardized intensive behavioral therapies that effectively enable the implementation of existing treatment guidelines that call for behavior change as the foundation of treatment. Its AspyreRx PDT for type 2 diabetes received FDA clearance and launched last year.

Better Therapeutics said in a news release that it earned a breakthrough nod based on the outcomes of its LivVita clinical study. The tri…

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Better Therapeutics, Glooko partner on digital diabetes management

AspyreRx, formerly known as BT-001. [Image from Better Therapeutics website]Better Therapeutics and Glooko today announced a partnership to integrate technologies and enhance diabetes management.

The partnership aims to integrate Better Therapeutics’ ApsyreRx digital behavioral treatment into Glooko’s diabetes management platform. Better Therapeutics designed AspyreRx to treat type 2 diabetes. The FDA authorized AspyreRx as a prescription digital therapeutic for diabetes in July.

Palo Alto, California-based Glooko’s current platforms enable patients to share diabetes data with healthcare providers. That includes blood glucose readings, insulin doses, food and carbs, exercise activity, blood pressure and weight.

Get the full story at our sister site, Drug Delivery Business News.

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Better Therapeutics wins FDA nod for type 2 diabetes digital therapeutic

AspyreRx, formerly known as BT-001. [Image from Better Therapeutics website]Better Therapeutics (Nasdaq:BTTX) announced that the FDA authorized its AspyreRx prescription digital therapeutic for diabetes.

AspyreRx, formerly BT-001, provides cognitive behavioral therapy to patients 18 years or older with type 2 diabetes. The prescription-only digital therapeutic (PDT) underwent review through the FDA de novo pathway. The company submitted an FDA de novo request in September 2022 for the therapeutic. Earlier this year, it suggested that authorization would come at some point in 2023.

San Francisco-based Better Therapeutics says the authorization creates a new class of diabetes digital behavioral therapeutic devices. The company expects to launch AspyreRx in the fourth quarter of this year.

Get the full story at our sister site, Drug Delivery Business News.

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Better Therapeutics expects FDA ruling on diabetes digital therapeutic mid-year

Better Therapeutics (Nasdaq:BTTX) shares fell today after its first-quarter earnings report included a wide-ranging business update.

Shares of BTTX fell 3.2% at 76¢ apiece in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — fell 0.2%.

Better Therapeutics recorded a net loss of $9.4 million, compared to $9.7 million for the same period in 2022. On a per common share basis, net loss totaled 39¢, while analysts expected harsher losses of 74¢ per share.

The San Francisco-based digital therapeutic developer reported that it responded to a February request for information from the FDA. It relates to the company’s de novo submission for BT-001, a digital therapeutic for treating type 2 diabetes. The company submitted an FDA de novo request in September 2022 for the solution. FDA review remains ongoing and Better Therapeutics said it expects a decision to come in…

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Better Therapeutics to cut 35% of workforce

BT-001 [Image from Better Therapeutics website]Better Therapeutics (Nasdaq:BTTX) announced that it commenced a workforce reduction of approximately 35% of its employees.

Per the digital therapeutic developer’s most recent annual report, it had 44 employees as of Dec. 31, 2021. The layoffs could affect as many as 15 employees if the headcount remains similar.

In an SEC filing, Better Therapeutics said the headcount cut comes as part of a cost reduction initiative. It aims to improve its cash runway and “focus on the long-term success of the company.” According to the filing, the company planned to complete the reduction on March 24 with about $400,000 in cash-based expenses related to severance and benefits in the second quarter of 2023.

Better Therapeutics is not the only digital therapeutic developer to enforce layoffs recently. Both Pear Therapeutics and Akili slashed their workforces. Here’s a list of recent layoffs around the med…

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Better Therapeutics names new chief commercial officer

BT-001 [Image from Better Therapeutics website]Better Therapeutics (Nasdaq:BTTX) announced today that it appointed Diane Gomez-Thinnes as its new chief commercial officer (CCO).

Gomez-Thinnes’ appointment became effective yesterday, Oct. 26, 2022. She joins the San Francisco-based company, which develops prescription digital therapeutics (PDTs). They use a novel form of cognitive behavioral therapy (CBT) to address the root causes of cardiometabolic diseases, including diabetes. The company last month submitted its BT-001 digital therapeutic for type 2 diabetes to the FDA for de novo classification.

Get the full story at our sister site, Drug Delivery Business News.

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7 innovative digital health offerings to treat diabetes

MIT engineers are working on an app that that identifies and quantifies food content, which can aid in carbohydrate counting for people with diabetes. [Image from MIT News] From using your smartphone to track data to reversing your diabetes altogether, these digital health technologies stand out.

Advances in treatments for diabetes never stop coming. Whether that be in the form of insulin pumps or continuous glucose monitors, we’ve seen plenty.

Moving away from the physical device, innovations in the digital diabetes space continue to impress. Digital therapeutics, artificial intelligence- and cloud-based offerings and more comprise an intriguing list of technologies.

Here are seven digital offerings aimed at treating diabetes that you might want to keep an eye on:

1. Digital therapeutics for diabetes

Digital therapeutics is an ever-growing space capable of treating a range of diseases and conditions. That reach extends to diabetes, as shown by companies…

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Better Therapeutics submits FDA de novo request for type 2 diabetes treatment

Better Therapeutics (Nasdaq:BTTX) announced today that it submitted a de novo classification request to the FDA for its BT-001 technology.

San Francisco-based Better Therapeutics seeks marketing authorization for the BT-001 prescription digital therapeutic (PDT). It potentially represents the first-in-class PDT using cognitive behavioral therapy (CBT) to treat type 2 diabetes. Marketing initially would cover type 2 diabetes patients aged 18 years and older.

Get the full story at our sister site, Drug Delivery Business News.

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The biggest medtech personnel moves so far in 2022

In the ever-changing world of medtech, those who are leading the companies are bound to move around a bit.

At the end of last year, we compiled a list of medtech’s biggest personnel changes in 2021. Throughout just over half of 2022, we’ve already seen a slew of major moves around some of the space’s most powerful players.

Here is a list of some of the biggest personnel changes in medtech so far in 2022:

3M’s healthcare president retires 3M Health Care Business Group President Mojdeh Poul [Image courtesy of 3M]Mojdeh Poul, the president of 3M’s healthcare business, announced in May that she would retire from the position and her retirement was made effective on July 1.

Poul joined 3M in 2011 as the global business VP of critical and chronic care solutions. She later became VP and general manager of the company’s food safety business and president of numerous 3M divisions, including infection prevention, 3M Canada, and sa…

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Digital therapeutics developer Better Therapeutics names new CEO

Better Therapeutics (Nasdaq:BTTX) announced today that it appointed Frank Karbe as its new president and CEO.

San Francisco-based Better Therapeutics develops prescription digital therapeutics (PDTs) based on nutritional cognitive behavioral therapy (nCBT) to address the root causes of cardiometabolic diseases.

Get the full story at our sister site, Drug Delivery Business News.

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Digital therapeutics open up new opportunities in medicine

Pear Therapeutics designed the reSET prescription digital therapeutic for the treatment of substance abuse disorder. [Image courtesy of Pear Therapeutics]A wide range of companies are aiming to make waves through digital therapeutic offerings, and each is doing things differently.

“We are seeing tremendous momentum for the DTx industry, with more and more products coming to market and gaining commercial coverage and recent signals from the White House and Congress demonstrating their interest and recognition of DTx products as an important way to expand access to quality treatments for populations with public coverage, especially underserved communities,” Digital Therapeutics Alliance CEO Andy Molnar said via email. “While we are riding a massive swell, the wave hasn’t even begun to crest. The community is expanding and convening this broad coalition of stakeholders is critical to really scale the industry and drive DTx adoption and integration to truly transform healthc…

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