The digital therapeutics market has seen an explosion of innovative products and interested investors. Regulators, too, have acknowledged their potential to improve outcomes in patients with chronic or debilitating conditions – often at lower cost and with less side effects than traditional drug therapies. To that end, the FDA has granted breakthrough device designation to Swing Therapeutics Inc. for its prescription digital therapeutic for the management of fibromyalgia.

Shares of Cohbar Inc. (NASDAQ:CWBR) hit a 52-week high on Aug. 11 following news that a mitochondrial peptide analogue it is testing for the potential treatment of nonalcoholic steatohepatitis (NASH) and obesity, CB-4211, delivered "robust" improvements in key biomarkers of liver damage and glucose levels vs. placebo during a small phase Ia/Ib study.

Iterative Scopes Inc. picked up $30 million in series A financing to advance artificial intelligence (AI)-powered precision medicine for gastroenterology. The money will be used to further develop the company’s algorithms and to propel its growing life sciences businesses. Spun out of the Massachusetts Institute of Technology by founder and CEO Jonathan Ng, the company is developing AI-driven computational tools to identify appropriate treatments and guide clinical trials for patients suffering from gastrointestinal diseases.