Japanese medical technology firm CureApp is getting 7 billion yen ($51.4 million) in investment from global investment firm Carlyle as part of their strategic partnership.
Carlyle is taking a minority stake in the company, which has so far raised 13.4 billion yen ($98 million) in capital funding.
Founded in 2014, CureApp is involved in the research and development of prescription and non-prescription digital therapeutics applications.
WHAT IT’S FOR
The latest funds, which form part of the company’s Series G funding round, will support the rollout of CureApp’s prescription DTx app for the treatment of hypertension. It will also help advance the development of its pipeline DTx apps.
THE LARGER TREND
In April, CureApp obtained approval from Japan’s Ministry of Health, Labour and Welfare for its hypertension DTx app, which was found to have decreased the risk of developing cardiovascular and cerebrovascular diseases by 10.7% in a clinical trial last year. The company also received the same approval for its smoking cessation treatment app in 2020.
Presently, CureApp is developing DTx apps to treat non-alcoholic steatohepatitis, alcohol addiction, breast cancer, and chronic heart failure.
The global DTx market is projected to reach $13.8 billion in value by 2027, growing at a 20.5% CAGR from 2019.