Paperplane Therapeutics Raises $1.5M to Transform Anxiety and Pain Management with Medical Virtual Reality

Funding Led by Glen Ventures with Significant Support from the Government of Quebec

MONTREAL, QUEBEC, CANADA, February 18, 2025 /EINPresswire.com/ -- Paperplane Therapeutics, a pioneering Quebec-based company specializing in therapeutic virtual reality solutions for pain and anxiety management in healthcare, announced today the successful closing of a $1.5M funding round. The round was led by Glen Ventures, 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 improve patient comfort, streamline clinical workflows, and reduce the burden on clinicians managing patient anxiety and discomfort.

This $1.5M 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 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 Marking certification.

“As an emergency physician, I have seen firsthand the lack of options available for managing pain and anxiety,” said Dr. Jean-Simon Fortin, Co-founder and CEO of Paperplane Therapeutics. “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.”

Michael Goodman, Founding Partner at Glen Ventures, added: “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.”

Quebec’s Minister for the Economy and Minister Responsible for the Fight Against Racism, Christopher Skeete, commented: “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, President and CEO of Investissement Québec. “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.”

About Paperplane Therapeutics
Paperplane Therapeutics is a Quebec-based company at the intersection of healthcare and virtual reality, dedicated to transforming painful and anxiety-inducing medical experiences into immersive and positive sessions for patients of all ages. By harnessing the power of virtual reality, Paperplane enhances pain and anxiety management while helping clinicians save time and reduce workload.

Scientifically validated through independent, university-led clinical research, Paperplane’s technologies are recognized as effective digital therapies, reinforcing the company’s commitment to maintaining the highest standards of safety and efficacy in the industry.

About Glen Ventures
Glen Ventures is a venture capital firm specializing in early-stage investments in transformative healthcare technologies. They partner with innovative entrepreneurs to drive growth and create lasting value.

Rita Tennyson
Orca Communications
rita.tennyson@orcapr.com