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SoftBank’s Big Health investment bets on digital therapeutics – Source

SoftBank’s Vision Fund 2 is betting on digital therapeutics—apps that function like medicine. The Japanese investment conglomerate led a $75 million funding round in San Francisco-based Big Health, which uses mobile apps to treat sleeplessness and anxiety. The investment may be indicative of the kinds of digital therapeutics companies that are likely to receive investment in the year ahead.

Founded in 2010, Big Health has taken a well-regarded psychological treatment called cognitive behavioral therapy (CBT) and made it entirely digital—no humans involved. Similar companies in the space, most notably Pear Therapeutics, which uses CBT to treat substance use disorder, have sought approval from the U.S. Food and Drug Administration so that their digital therapeutics can be prescribed, increasing the likelihood that insurers will cover them. But Big Health has taken a different tack. Its apps, Sleepio (insomnia) and Daylight (anxiety), can be used by anyone without a…

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