Japanese medical technology company CureApp is receiving 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.
Founded in 2014, CureApp is involved in the research and development of prescription and non-prescription digital therapeutic applications.
WHAT’S THE POINT
The latest funds, part of the company’s Series G funding round, will support the rollout of CureApp’s prescription DTx application for the treatment of hypertension. It will also help advance the development of its pipeline DTx applications.
THE GREAT TREND
In April, CureApp obtained approval from the Japanese Ministry of Health, Labor and Welfare for its DTx app for hypertension, which was shown to reduce the risk of developing cardiovascular and cerebrovascular diseases by 10.7% during a clinical trial last year. The company also received the same approval for its smoking cessation treatment app in 2020.
Currently, CureApp is developing DTx applications to treat non-alcoholic steatohepatitis, alcohol dependence, breast cancer, and chronic heart failure.
The global DTx market is expected to reach $13.8 billion in value by 2027, growing at a CAGR of 20.5% from 2019.