philip lelyveld The world of entertainment technology

AppliedVR nabs $36M to scale up virtual reality platform to support more health conditions

As it builds more evidence to support its virtual reality therapeutic for managing pain, startup AppliedVR picked up $36 million in fresh funding to fuel its growth.

The Los Angeles-based company also is awaiting a decision from the Food and Drug Administration (FDA) on its first de novo submission. The company is preparing for full market launch of its flagship product, EaseVRx, after FDA approval. ...

“For too long, we’ve relied on the notion that people need to take pills or rely on surgery to feel better and lead a better quality of life. At AppliedVR, we’re building an unparalleled body of evidence for providers and payers to demonstrate that immersive therapeutics can fill the massive unmet need for patients who are frustrated by current treatment paradigms. And, we are starting with chronic pain, one of the most complex, costly conditions,” said Matthew Stoudt, co-founder and CEO of AppliedVR, in a statement. ...

AppliedVR's goal is to make immersive therapeutics accessible to everyone, he said, "and this funding will help further expand our body of evidence, infrastructure and distribution platform, enabling patients and providers to take advantage of this next-generation therapeutic—while also bringing down costs for payers.”

AppliedVR's platform has been used by more than 30,000 patients in more than 240 of the top health systems globally.  ...

See the full story here: https://www.fiercehealthcare.com/tech/appliedvr-nabs-36m-to-scale-up-virtual-reality-platform-to-support-more-health-conditions