VR Startup Secures $1.5M to Ease Dental Anxiety

Key Takeaways:

• Paperplane Therapeutics raises $1.5 million to develop VR solutions for pain and anxiety management in healthcare.
• The company focuses on the dental sector, where anxiety affects 36% of patients and delays care for many.
• Funding will support expansion into North America and Europe through a partnership with HypnoVR.
• Investors include Glen Ventures, CABHI, Cedars-Sinai, and Quebec government entities.
• Paperplane’s VR technology aims to improve patient comfort and streamline clinical workflows.

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Addressing Pain and Anxiety in Healthcare

Paperplane Therapeutics, a Montreal-based company, has secured $1.5 million in funding to advance its virtual reality (VR) solutions for managing pain and anxiety in medical settings. According to an article published on VentureBeat, the company is targeting the dental industry, where anxiety remains a significant barrier to care. Studies indicate that 36% of individuals experience dental anxiety, with 12% reporting extreme fear and 22% delaying appointments until urgent pain compels them to seek treatment. These delays often lead to more complex procedures, higher costs, and worsened outcomes.

The company’s VR technology transforms traditionally stressful dental procedures into manageable or even pleasant experiences. By immersing patients in calming virtual environments, Paperplane aims to reduce discomfort and anxiety, making healthcare visits less daunting. This approach not only benefits patients but also enhances clinical efficiency by reducing the need for sedatives or other interventions.

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A Growing Market and Strategic Partnerships

The recent funding round was led by Glen Ventures, with additional support from the Quebec government through Investissement Québec, CABHI, Cedars-Sinai Intellectual Property Company, Anges Québec, and Aventure Capital. This financial backing underscores the growing interest in VR as a tool for improving patient care.

Michael Goodman, founding partner at Glen Ventures, noted in the VentureBeat article, “Paperplane is redefining how we approach pain and anxiety management in healthcare. Their VR solutions not only enhance patient comfort but also contribute to more efficient clinical workflows. We are proud to support a company that is raising the standard of patient care while pushing the boundaries of medical innovation.”

The investment will also facilitate Paperplane’s expansion into Europe through a partnership with French company HypnoVR, which holds CE Mark certification. This collaboration highlights the global potential of VR therapies in healthcare and positions Paperplane to scale its impact beyond North America.

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A Vision Rooted in Research

Paperplane Therapeutics’ journey began with a research project conducted by CEO Jean-Simon Fortin, who explored the use of VR to manage pain and anxiety. Inspired by the promising results, Fortin collaborated with David Paquin, an expert in creation and new media, and university students to develop their first VR solution. This initial project focused on children undergoing painful dressing changes at Sainte-Justine Children’s Hospital.

Encouraged by the success of these early trials, Fortin and Paquin founded Paperplane Therapeutics in 2019. Since then, the company has raised $1 million in seed funding and an additional $1 million in non-dilutive funding. Today, Paperplane employs seven people and continues to refine its VR solutions for broader applications in healthcare.

Fortin emphasized the importance of addressing gaps in pain and anxiety management, stating in the VentureBeat article, “As an emergency physician, I have seen firsthand the lack of options available for managing pain and anxiety. Today, I’m proud to see our VR technology filling that gap, providing healthcare professionals with a more effective way to support their patients. This funding will allow us to expand our reach, enabling even more clinicians to deliver truly transformative care.”

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Supporting Quebec’s Innovation Ecosystem

The Quebec government has played a pivotal role in Paperplane’s growth, reflecting its commitment to fostering healthcare innovation. Christopher Skeete, Quebec’s Minister for the Economy and Minister Responsible for the Fight Against Racism, highlighted this support in the VentureBeat article, saying, “Quebec’s ingenuity has the power to shape the future of our healthcare system, and Paperplane Therapeutics is a prime example. Our government is proud to support the development of solutions that improve both the quality and accessibility of patient care.”

Bicha Ngo, CEO of Investissement Québec, echoed this sentiment, adding, “Paperplane Therapeutics is helping position Quebec as a leader in medical technology innovation through its virtual reality solutions. By rethinking the patient experience, the company demonstrates the immense potential of Quebec’s healthcare innovation ecosystem. With this investment, they now have the resources to accelerate their growth.”

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Looking Ahead

With its latest funding, Paperplane Therapeutics is poised to expand its VR solutions across North America and Europe, addressing a critical need in pain and anxiety management. By focusing on the dental sector, the company aims to make healthcare visits less intimidating and more efficient for both patients and clinicians.

As the adoption of VR in healthcare continues to grow, Paperplane’s work exemplifies how innovative technologies can enhance patient care and streamline clinical processes. The company’s progress serves as a testament to the collaborative efforts of private investors, government entities, and healthcare professionals in advancing medical innovation.

For more information on Paperplane Therapeutics and its mission, readers can visit the original article on VentureBeat.