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Better Therapeutics has finalized its business combination with Mountain Crest Acquisition Corp II, with trading set to begin on Nasdaq under ticker symbol BTTX on October 29, 2021. Shareholders approved the merger, which generated approximately $70 million in gross proceeds. The funds will advance Better Therapeutics' lead product, BT-001, for type 2 diabetes treatment, and support its broader pipeline in cardiometabolic conditions. The leadership team, including CEO Kevin Appelbaum and CMO Mark Berman, aims to enhance digital therapeutics accessibility.
Mountain Crest Acquisition Corp. II (NASDAQ: MCAD) announced stockholder approval for its merger with Better Therapeutics Inc. on October 27, 2021. The merger is set to finalize on October 28, 2021, with trading under the new ticker symbol BTTX expected to commence on October 29, 2021. This business combination aims to advance Better Therapeutics’ prescription digital therapeutics addressing cardiometabolic diseases. CEO Kevin Appelbaum emphasized the merger's potential to fund further development and improve patient health outcomes.
Mountain Crest Acquisition Corp. II (MCAD) announced that the SEC has declared its registration statement effective for the merger with Better Therapeutics, a digital therapeutics company focusing on cardiometabolic diseases. A special stockholder meeting is set for October 27, 2021, to vote on the merger. If approved, the merger will lead to Better Therapeutics operating under the name and ticker symbol BTTX on Nasdaq. Stockholders who owned shares as of September 8, 2021, can participate in the vote.
Better Therapeutics, a prescription digital therapeutics company, will present at Lake Street's 5th Annual Best Ideas Growth (BIG5) Conference on September 14-15, 2021. The conference, focused on growth companies, will feature executives from over 100 publicly traded firms meeting institutional investors. Better Therapeutics aims to combat cardiometabolic diseases through cognitive behavioral therapy facilitated by its proprietary digital platform. The company is in the process of merging with Mountain Crest Acquisition Corp. II (NASDAQ: MCAD) to further its mission.
Better Therapeutics, a prescription digital therapeutics company, updates on its merger with Mountain Crest Acquisition Corp. II (NASDAQ: MCAD). The pivotal trial for its product BT-001 in treating type 2 diabetes is nearing full enrollment, aiming for FDA marketing authorization post-trial. Additional clinical developments for BT-002 and BT-003 in hypertension and hyperlipidemia are on track, with pivotal studies set for 2022. A cash position of up to
Better Therapeutics has secured a loan facility of up to
Better Therapeutics, in collaboration with Catalyst Health Network, has launched an open-label study to assess the effectiveness of BT-001, a digital therapeutic aimed at treating type 2 diabetes. This study will involve about 250 patients, focusing on healthcare utilization and quality of life changes over at least one year. BT-001 utilizes cognitive behavioral therapy to target behavioral causes of the disease. The results from this study could contribute to the regulatory submission for marketing authorization from the FDA, enhancing availability for primary care providers.
Better Therapeutics has launched a real-world evidence study with Steward Health Care to assess the effectiveness of BT-001, a digital therapeutic for type 2 diabetes treatment. The study will involve around 1,000 patients over one year, measuring changes in A1c and healthcare costs. Results are expected in the second half of 2022. BT-001 aims to address the root causes of cardiometabolic diseases through cognitive behavioral therapy. The company is also pursuing regulatory approval for BT-001 as part of a proposed merger with Mountain Crest Acquisition Corp. II (MCAD).
Better Therapeutics, a leader in prescription digital therapeutics, is set to go public via a merger with Mountain Crest Acquisition Corp II (MCAD), raising up to $113 million to further its product pipeline targeting cardiometabolic diseases, which cost the U.S. healthcare system nearly $500 billion annually. The transaction values Better Therapeutics at approximately $187 million, with existing shareholders rolling over 100% of their equity. A $50 million private investment will support marketing authorization for its lead product, BT-001, targeted at type 2 diabetes.
On March 15, 2021, Mountain Crest Acquisition Corp. II (NASDAQ: MCADU) announced that holders of its units can begin trading the common stock and rights separately from March 17, 2021. The common stock and rights will be traded under the symbols MCAD and MCADR, respectively, while units will continue to trade under MCADU. This change allows for greater flexibility for investors as the company prepares for a future merger or acquisition, focusing on opportunities in North America.
