Curex is building a tech-enabled consumer-facing digital health platform to re-invent the allergy treatment and management experience. We're honored to be backing them in their recent $1M funding round along with Citylight VC.
The Current Landscape in Allergy Treatments
In general, there is no cure for allergies, but there are several types of medications available - both over-the-counter and prescription - to help ease and treat annoying symptoms like congestion and runny nose. These allergy drugs include antihistamines, decongestants, combination drugs, corticosteroids, and others.
Another treatment option is immunotherapy - in the form of allergy shots or drops under the tongue - which gradually increases a person’s ability to tolerate allergens by treating the underlying causes of allergies.
Immunotherapy has pros and cons, but it is more effective than medications. Despite their effectiveness, allergy shots are largely ignored by most patients, who either suffer through the allergy season in silence or pop pills to temporarily ease their misery. First, there's allergy testing - multiple scratches into the skin with different allergy triggers to identify what the person is allergic to. Then there's the time involved - weekly injections for three to five months to gradually build resistance followed by several years of monthly maintenance shots. And there's the pain with each allergy shot. It takes time for allergy shots to show noticeable results - usually, several months after those weekly "building" doses are completed. Relief of symptoms can be seen after a few days of antihistamine pills.
Allergy drops are a great alternative to allergy shots treatment. Allergy drops are safer than allergy shots, more convenient, and offer long-term protection for both allergies and asthma. Even the worst allergy sufferers have seen a dramatic improvement with allergy drops. Plus, no one likes getting shots (especially children).
It is estimated that more than 50 million Americans have experienced various types of allergies each year, according to the U.S. Centers for Disease Control and Prevention (CDC). Annual direct costs for treating allergies are $6 billion ($5.7 billion in medications and $300 million in-office visits). Among adults, allergies are the fifth-leading chronic disease and a major cause of work absenteeism, resulting in nearly four million missed or lost workdays each year and accounting for more than $700 million in total lost productivity. An estimated two million school days are lost each year due to allergies.
Enabling Allergy Tests and Treatments at Home
Curex will be the go-to platform that takes care of all the needs of people who suffer from allergies.
At this point, allergy testing is done at a doctor’s office and allergy shots are the primary recommendation for treatment. While available in the US, allergy drops are a widely unknown treatment option that delivers comparable results to shots with greater ease and less pain. Curex is the first and only platform that enables allergy sufferers to get allergy tests and receive allergy treatment at home.
With 37.5 million people who suffer from environmental allergies being the target customers and with a LTV of $2,000 in 3 years, Curex is capturing an opportunity that has a $4.89 billion total addressable market (TAM).
The team is very competitive. Gene, Charles, and Alexios have solid experience in running health startups before they founded Curex, while Amina has deep knowledge about allergies.
With a proven solution, a validated market, and a profitable business model, the team is a first-mover in this huge untapped market, giving the team a big advantage to pursue this opportunity.
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