Paperplane Therapeutics has raised $1.5 million to treat patients for pain and anxiety using virtual reality, possibly making trips to the dentist more pleasant.
The Montreal, Canada-based company specializes in therapeutic virtual reality solutions for pain and anxiety management in healthcare.
Glen Ventures led the round, with financial support from the Gouvernement du Québec through Investissement Québec. Strategic investors such as CABHI (Centre for Aging + Brain Health Innovation), Cedars-Sinai Intellectual Property Company, Anges Québec, and Aventure Capital also participated.
Pain and anxiety pose major barriers for patients seeking medical care, often leading to delays, increased discomfort, and more complex treatments. This issue is particularly prevalent in dentistry, where approximately 36% of individuals experience anxiety during dental visits, 12% suffer from extreme dental fear, and 22% postpone appointments until pain forces them to seek care, resulting in increased costs and complications.
With this in mind, Paperplane is focusing on the North American dental market, aiming to enhance patient experiences and clinical workflows through its therapeutic virtual reality solutions.
Paperplane’s technology addresses this challenge by transforming dental procedures—often perceived as painful and traumatic—into more manageable, even pleasant experiences through immersive virtual reality.
Designed for patients of all ages, with a particular emphasis on pediatric care, Paperplane’s solutions help make patients more comfortable. Paperplane also streamlines clinical workflows and reduces the burden on clinicians.
“As an emergency physician, I have seen firsthand the lack of options available for managing pain and anxiety,” said Jean-Simon Fortin, CEO of Paperplane Therapeutics, in a statement. “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.”
This funding marks a significant milestone in Paperplane’s growth, and it will enable the company to continue its mission of deploying virtual reality therapies in the dental sector, improving both patient outcomes and care delivery across North America. Additionally, this investment will support Paperplane’s expansion into Europe through a strategic partnership with French company HypnoVR, backed by its CE Mark certification.
Michael Goodman, founding partner at Glen Ventures, said in a statement, “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.”
Christopher Skeete, Quebec’s Minister for the Economy and Minister Responsible for the Fight Against Racism, said in a statement, “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.”
“Paperplane Therapeutics is helping position Quebec as a leader in medical technology innovation through its virtual reality solutions,” added Bicha Ngo, CEO of Investissement Québec, in a statement. “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.”
To date, the company has raised $1 million in seed round dilutive funding and $1 million in non-dilutive funding. The firm has seven people. The firm was founded in 2019 but the cofounders started working together on R&D and clinical trials in 2014.
Regarding the inspiration, Fortin conducted a research project on using VR to manage pain and anxiety. Inspired by the results, he teamed up with David Paquin, an expert in creation and new media, and together with university students, they developed their first VR solution for children needing painful dressing changes at Sainte-Justine Children’s Hospital. Encouraged by the success of these early trials, they established Paperplane Therapeutics in 2019 to commercialize and expand these transformative VR therapies
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