Japan’s digital health startup CureApp announced on Monday that it has raised 380 million yen ($3.4 million) from existing investor Beyond Next Ventures, and new investors Keio Innovation Initiative and SBI Investment.
The developments was initially reported by The Bridge.
This investment follows a 100 million yen (~$890,000) raised from Beyond Next Ventures in October 2015. Proceeds from the latest investment will see the firm enhances its research and development (R&D) system. This is part of an efforts to realise the creation of a disease treatment methods using mobile apps.
Founded in July 2014 by CEO Kota Satake and CTO Shin Suzuki (CTO), who have a professional medical background, the enterprise operates in the medical services mobile app segment and is currently conducting clinical trials with one of its apps, which deals with nicotine addiction.
Recently, the enterprise developed a NASH (non-alcoholic steatohepatitis remedy) treatment app in partnership with the University of Tokyo and has been conducting clinical trial wit the app as well. According to Satake, the firm is planning a horizontal spread of medical apps for treeing and managing lifestyle diseases such as diabetes, depression and lung cancer.
CureApp is also seeking to expand its footprint into the US market through collaborating with local medical institutions. If approved by the US FDA (US Food and Drug Administration) following clinical trial, this will see the enterprise engage in a global roll-out to.
Recently, its investor, Beyond Next Ventures, entered into a partnership with San Francisco-based bio-science accelerator IndieBio. This could ease CureApp’s entry into the US market.