NVS Novartis AG

   By Nathan Allen 
 

Novartis AG (NOVN.EB) said Thursday that it will collaborate with U.S. startup Pear Therapeutics to develop software that will be used to treat medical conditions.

The two companies will initially work on treatments for patients with schizophrenia and multiple sclerosis, Novartis said.

So-called digital therapeutics can be used to administer psychological treatments such as cognitive behavioral therapy via a cellphone or desktop application and can be prescribed alongside drug therapies, according to a statement from Novartis.

Pear Therapeutics already has a range of prescription applications on the market and was the first company to gain U.S. Federal Drug Administration approval for a software application with a safety and efficacy label, Novartis said. The Swiss company said it invested in Pear's series B financing round in January.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

March 01, 2018 01:49 ET (06:49 GMT)

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