Frost & Sullivan Honors Better Therapeutics with the 2023 Technology Innovation Leadership Award

Rhea-AI Summary

Better Therapeutics (NASDAQ: BTTX) receives Frost & Sullivan's 2023 Best Practices Technology Innovation Leadership Award in the North American diabetes digital behavioral therapeutics industry for its AspyreRx app. The award recognizes the company's unique architecture for scalability and potential expansion to other cardiometabolic conditions. AspyreRx is the first prescription-only digital therapeutic for type 2 diabetes, with FDA authorization for commercial use in the U.S.

Positive

• Better Therapeutics is being recognized for its innovative approach to digital behavioral therapeutics, positioning the company as a leader in the North American diabetes industry. The FDA authorization for AspyreRx to treat type 2 diabetes indicates a significant milestone for the company's product development and commercial availability. The award from Frost & Sullivan validates the company's vision and hard work, reinforcing its potential to make a meaningful impact on the lives of individuals living with diabetes in the U.S.

Negative

• None.

Better Therapeutics is recognized for its novel cognitive behavioral therapy app, AspyreRx™, leading the way in the North American diabetes digital behavioral therapeutics industry

SAN FRANCISCO--(BUSINESS WIRE)-- Better Therapeutics, Inc. (NASDAQ: BTTX), a pioneer in developing prescription digital therapeutics (PDTs) to treat cardiometabolic diseases, today announced it has been awarded Frost & Sullivan’s prestigious 2023 Best Practices Technology Innovation Leadership Award in the North American diabetes digital behavioral therapeutics industry.

Better Therapeutics Receives 2023 Technology Innovation Award (Graphic: Business Wire)

Frost & Sullivan's team of industry analysts conducted extensive research and in-depth interviews to evaluate multiple nominees before determining the final award recipient. This process identified Better Therapeutics as the frontrunner in the diabetes digital behavioral therapeutics industry, as evidenced by the launch of AspyreRx - the first prescription-only digital therapeutic indicated to treat patients with type 2 diabetes. Furthermore, Better Therapeutics' proprietary platform offers the potential to rapidly expand its use to other cardiometabolic conditions in the future.

The Frost & Sullivan team summarized its findings in a comprehensive report and shared this with its healthcare network. The report is available for download.

“A prominent factor that sets Better Therapeutics’ apart from competing solutions is its unique architecture that enables high scalability for the company to develop new prescription digital therapeutics. These could help treat a wide range of cardiometabolic diseases including hypertension, obesity, non-alcoholic steatohepatitis/non-alcoholic fatty liver disease, hyperlipidemia, and chronic kidney disease,” commented Neeraj Nitin Jadhav, industry analyst at Frost & Sullivan.

After eight years of clinical development, involving more than 6,500 participants in studies of increasing rigor, Better Therapeutics received FDA authorization in July 2023 for AspyreRx to treat adults with type 2 diabetes. Shortly after, it announced that the product is commercially available for healthcare providers in the U.S. to begin prescribing the treatment.

"Receiving this award is a testament to the hard work and vision of our entire team. We are honored and motivated to continue our mission of advancing human health through the power of behavior change. It also reinforces the immense potential we see in making a meaningful impact on the lives of the 37 million individuals living with diabetes in the United States," said Frank Karbe, Chief Executive Officer at Better Therapeutics.

About AspyreRx

AspyreRx (formerly BT-001) was granted marketing authorization by the U.S. Food and Drug Administration (FDA) in July 2023 as the first prescription-only digital therapeutic to treat adults with type 2 diabetes (T2D). AspyreRx is backed by robust data demonstrating clinically meaningful and sustained reduction in A1c as well as improvements in other markers of cardiometabolic health when used up to 180 days. Using proven techniques that target the underlying psychological, behavioral, and cognitive factors that sustain or worsen T2D, AspyreRx is a self-paced, engaging experience that patients can access from their smartphone. It is prescribed by a healthcare provider in 90-day increments, with proprietary CBT delivered digitally in a weekly step-by-step process. Through interactive therapy lessons, skill-building modules, weekly goal setting and tracking, patients connect changes in behavior to improvements in blood sugar and other biometrics. Each step in the experience builds on the prior to enable and reinforce cognitive restructuring, building the emotional resilience and acceptance needed to make enduring changes.

Indications for Use

AspyreRx is a prescription-only digital therapeutic device intended to provide cognitive behavioral therapy to patients 18 years or older with type 2 diabetes. The device targets behavior to aid in the management of type 2 diabetes in patients who are under the care of a healthcare provider. AspyreRx provides cognitive behavioral therapy as a treatment that should be used adjunctively with standard of care.

About Better Therapeutics

Better Therapeutics is a prescription digital therapeutics company developing a novel form of cognitive behavioral therapy to address underlying factors that sustain or worsen cardiometabolic diseases. The Company has developed a proprietary platform for the development of FDA-regulated, software-based solutions for T2D, heart disease and other conditions. The CBT delivered by Better Therapeutics’ PDTs is designed to enable changes in neural pathways of the brain so lasting changes in behavior become possible. Addressing the underlying causes of these diseases has the potential to dramatically improve patient health while lowering healthcare costs. Better Therapeutics’ clinically validated mobile applications are intended to be prescribed by physicians and reimbursed like traditional medicines.

For more information visit: bettertx.com

Forward-Looking Statements

Certain statements made in this press release are “forward-looking statements” within the meaning of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words such as “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements in this press release include, but are not limited to, statements regarding Better Therapeutics’ expectations related to the efficacy and potential benefits of PDTs, including AspyreRx and CBT, and their potential treatment applications and their ability to improve clinical outcomes, beliefs regarding the importance and potential of behavior modification in diabetes treatment and statements related to the needs of people living with T2D, among others. These forward-looking statements are based on the current expectations of the management of Better Therapeutics and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements including: risks related to Better Therapeutics’ business, such as the willingness of the FDA to authorize PDTs, for commercial distribution and insurance companies to reimburse their use, market acceptance of PDTs, including AspyreRx, the risk that the results of previously conducted studies will not be interpreted favorably by the FDA or repeated or observed in ongoing or future studies involving Better Therapeutics’ product candidates and other risks and uncertainties included under the header “Risk Factors” in Better Therapeutics’ quarterly report on Form-10-Q for the fiscal quarter ended September 30, 2023 filed with the Securities and Exchange Commission (“SEC”) on November 09, 2023, and those that are included in any of the Company’s subsequent filings with the SEC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231114156864/en/

Investor Relations:

Mark Heinen

IR@bettertx.com

Media Enquiries:

Emma Williams

info@bettertx.com

Source: Better Therapeutics, Inc.

FAQ

What award did Better Therapeutics receive?

Better Therapeutics received Frost & Sullivan's 2023 Best Practices Technology Innovation Leadership Award in the North American diabetes digital behavioral therapeutics industry for its AspyreRx app.

What is AspyreRx?

AspyreRx is the first prescription-only digital therapeutic indicated to treat patients with type 2 diabetes, with FDA authorization for commercial use in the U.S.

What is the potential of Better Therapeutics' proprietary platform?

Better Therapeutics' proprietary platform offers the potential to rapidly expand its use to other cardiometabolic conditions in the future, including hypertension, obesity, non-alcoholic steatohepatitis/non-alcoholic fatty liver disease, hyperlipidemia, and chronic kidney disease.