Bet­ter Ther­a­peu­tics cuts 35% of staff while await­ing dig­i­tal ther­a­peu­tic ap­proval

Dig­i­tal ther­a­peu­tics com­pa­ny Bet­ter Ther­a­peu­tics an­nounced on Thurs­day that it’s cut­ting 35% of its staff as it awaits FDA clear­ance for its first prod­uct.

The com­pa­ny, which launched eight years ago, is one of a grow­ing group of com­pa­nies seek­ing a dig­i­tal al­ter­na­tive to tra­di­tion­al med­i­cine. The space saw a record $7.5 bil­lion in in­vest­ments in 2021, ac­cord­ing to Chris Doko­ma­ji­lar at Deal­For­ma, with us­es span­ning AD­HD, PTSD and oth­er in­di­ca­tions. How­ev­er, pri­vate in­sur­ers have been slow to hop on board.

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