Nomura Holdings Inc. and Keio University are investing in a startup that's seeking to revolutionize how smokers quit the habit.
CureApp Inc., which develops mobile applications to treat ailments including tobacco addiction, received ¥380 million ($3.4 million) this month from investors including Nomura and Keio's venture-capital partnership, the startup's founder and Chief Executive Officer Kohta Satake said. An SBI Holdings Inc. unit also contributed, and CureApp will use the funds to develop products and expand in the U.S., he said in an interview.
The venture's success hinges on whether the anti-smoking app receives government permission for use as a treatment that's eligible for coverage under Japan's health-insurance program. If it's approved, doctors will be able to prescribe the software, which provides users with real-time feedback on their phones to resist the urge to smoke.