Paperplane Therapeutics, a Quebec-based company specializing in therapeutic virtual reality solutions for pain and anxiety management in healthcare, announced the closing of a $1.5 million funding round. Glen Ventures led the round, which received 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 lead to significant barriers for patients seeking medical care, often leading to delays, increased discomfort, and more complex treatments. And this issue is especially prevalent in dentistry, where about 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 focuses 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 issue 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 an emphasis on pediatric care, Paperplane’s solutions help improve patient comfort, streamline clinical workflows, and reduce the burden on clinicians in managing patient anxiety and discomfort.
This $1.5 million funding marks a significant milestone in Paperplane’s growth. It will enable the company to continue its mission of deploying cutting-edge virtual reality therapies in the dental sector, improving patient outcomes and care delivery across North America. Plus, this investment will support Paperplane’s expansion into Europe through a strategic partnership with French company HypnoVR, backed by its CE Marking certification.
KEY QUOTES:
“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.”
– Dr. Jean-Simon Fortin, Co-founder and CEO of Paperplane Therapeutics
“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.”
– Michael Goodman, Founding Partner at Glen Ventures
“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.”
– Quebec’s Minister for the Economy and Minister Responsible for the Fight Against Racism, Christopher Skeete
“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.”
– Bicha Ngo, President and CEO of Investissement Québec
