Paperplane Therapeutics A collected $ 1.5 million to treat patients for pain and anxiety using virtual reality, which makes travel to the dentist more pleasant.
The company based in Montreal, based in Canada, specializes in therapeutic virtual reality solutions for pain management and anxiety in health care.
Glen Ventures led La Ronde, with financial support from the Quebec Government by Investissement Québec. Strategic investors such as Cabhi (Center for Agging + Brain Health Innovation), Cedars-Sinai Intellectual Property Company, Angels Quebec, and Capital Aventure have also participated.
Pain and anxiety pose major barriers for patients looking for medical care, often causing delays, increased discomfort and more complex treatments. This problem is particularly widespread in dentistry, where approximately 36% of individuals experience anxiety during dental visits, 12% suffer from extreme dental fear and 22% postpone appointments until pain requires them to ask for care, resulting in increased costs and complications.
In this spirit, Paperplan focuses on the North American dental market, aimed at improving the experiences of patients and clinical workflows through its therapeutic virtual reality solutions.
Paperplane technology takes up this challenge by transforming dental procedures – often perceived as painful and traumatic – in more manageable experiences, even pleasant by immersive virtual reality.
Designed for patients of all ages, with a particular emphasis on pediatric care, Paperplan solutions help make patients more comfortable. Paperplan also rationalizes clinical workflows and reduces the burden of clinicians.
“As an emergency doctor, I saw the lack of options available to manage pain and anxiety,” said Jean-Simon Fortin, CEO of Paperplane Therapeutics, in a statement. “Today, I am proud to see our VR technology fill this gap, offering health professionals a more effective way to support their patients. This funding will allow us to extend our scope, allowing even more clinicians to provide truly transformative care. »»
This funding marks an important step in the growth of Paperplane and will allow the company to continue its mission to deploy virtual reality therapies in the dental sector, improving the results of patients and the provision of care in North America. In addition, this investment will support the expansion of Paperplan in Europe thanks to a strategic partnership with the French company Hypnovr, supported by its certification this Mark.
Michael Goodman, founding partner of Glen Ventures, said in a statement: “Paperplane redefines the way we address pain management and anxiety in health care. Their VR solutions not only improve patient comfort, but also contribute to more effective clinical workflows. We are proud to support a company that increases the standard of care for patients while pushing the limits of medical innovation. »»
Christopher Skeete, Minister of the Economy and Minister of Quebec, responsible for the fight against racism, said in a statement: “Quebec’s ingenuity has the power to shape the future of our health system, and Paperplane Therapeutics is an excellent example. Our government is proud to support the development of solutions that improve both the quality and accessibility of care to patients. »»
“Paperplane Therapeutics helps position Quebec as a leader in medical technology innovation through its virtual reality solutions,” added Bicha NGO, CEO of Investisation Québec, in a press release. “By thinking about the patient’s experience, the company demonstrates the immense potential of the Quebec Health Care Innovation Ecosystem. With this investment, they now have the resources to accelerate their growth. »»
To date, the company has raised $ 1 million in dilutive funding for the seed series and $ 1 million in non -dilutive funding. The company has seven people. The company was founded in 2019, but the co -founders began working together on R&D and clinical trials in 2014.
Regarding inspiration, Fortin carried out a research project on the use of virtual reality to manage pain and anxiety. Inspired by the results, he joined forces with David Paquin, an expert in creation and new media, and with university students, they developed their first VR solution for children who need painful dressing in Sainte-Justine Children’s Hospital. Encouraged by the success of these first trials, they established therapies on paper paper in 2019 to market and develop these transformative therapies
