Better Therapeutics Raises $6.7 Million for Launch of FDA-Approved AspyreRx™

SAN FRANCISCO, July 25, 2023 (VSNewsNetwork.com) - Better Therapeutics, Inc. (NASDAQ: BTTX), known for its innovations in software for cardiometabolic disease treatments, has announced new financing of $6.7 million. The funds were raised through the issuance of more than 8.7 million shares of common stock, distributed through three separate offerings, each at varying prices, with the average price per share at $0.77. The gross proceeds total $6.7 million before the deduction of offering costs and commissions. Participants in this financing round included the company's officers and directors, as well as an institutional investor.

The proceeds from this round of financing will primarily be utilized to support the launch of AspyreRx™, a prescription digital therapeutic device recently authorized by the U.S. Food and Drug Administration (FDA) to treat adults with type 2 diabetes. The equity offerings are part of Better Therapeutics' three-tiered financing strategy, which also includes business development proceeds and structured non-equity financing transactions. One such transaction, a royalty monetization deal, is expected to be completed by year's end. The offerings are anticipated to close on July 27, 2023, subject to customary closing conditions.

For additional information, visit bettertx.com.

Source: Better Therapeutics, Inc. via Business Wire