STAT+: Digital health pioneer Pear Therapeutics files for bankruptcy

The road has run out for Pear Therapeutics: the pioneering digital therapeutics company filed for chapter 11 bankruptcy on Friday and will seek to sell off its assets to pay back its creditors.

Pear will terminate 170 employees, or approximately 92% of its workforce, and will continue to operate in limited capacity with 15 employees as it seeks a buyer. CEO Corey McCann has stepped down from his role, but will continue to serve on the company’s board and will provide consulting services.

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