Better Therapeutics Signs Rebate Agreement with One of the Largest Pharmacy Benefit Managers in the US for its AspyreRx Diabetes Treatment

Better Therapeutics Inc. (NASDAQ: BTTX), a pioneer in developing prescription digital therapeutics (PDTs) for treating cardiometabolic diseases, today announced that it has entered into a rebate agreement with one of the nation’s leading Pharmacy Benefit Managers (PBMs) negotiating on behalf of over 70 million lives in the US. The rebate agreement, effective January 1, 2024, applies to the PBM’s commercial book of business and provides plan participants of the PBM the ability to add AspyreRx to their formularies with rebate eligibility.

Better Therapeutics launched AspyreRx in October 2023, after receiving U.S. Food and Drug Administration (FDA) authorization in July 2023 as the first prescription-only digital therapeutic to treat adults with type 2 diabetes (T2D).

The company continues to engage with national and regional health plans, as well as Pharmacy Benefit Managers (PBMs) and Group Purchasing Organizations (GPOs), to communicate the value of AspyreRx for patients with T2D and to secure broad coverage.

“This rebate agreement opens up an important pathway for access to treatment for millions of patients with type 2 diabetes," said Frank Karbe, President and CEO at Better Therapeutics. "Agreements like this demonstrate recognition of the value proposition of innovative solutions like AspyreRx and represent an important step toward increasing accessibility and coverage of our product for patients in need.”

About Better Therapeutics

Better Therapeutics is a prescription digital therapeutics company developing a novel form of cognitive behavioral therapy (CBT) 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.