Smileyscope, a global pioneer in immersive digital therapeutics, announced today the successful close of their seed prime round. The round included investments from Breakthrough Victoria, Ten13, Alice Anderson Fund and MedAngels. This funding will enable Smileyscope to grow its clinical-stage pipeline, and rapidly expand across the health systems in the United States and Australia.
AUSTIN, Texas, Oct. 4, 2023 /PRNewswire-PRWeb/ -- Smileyscope, a global pioneer in immersive digital therapeutics, announced today the successful close of their seed prime round. The round included investments from Breakthrough Victoria, Ten13, Alice Anderson Fund and MedAngels. This funding will enable Smileyscope to grow its clinical-stage pipeline, and rapidly expand across the health systems in the United States and Australia.
Smileyscope's flagship product is designed to reduce pain and anxiety during common pediatric procedures. By using their patented therapy software, known as Procedural Choreography, Smileyscope replaces negative real-world stimuli with positive virtual stimuli, reducing procedural pain and anxiety. The largest virtual reality procedural clinical trials to date shows that their flagship product reduces needle pain and anxiety by 60% and 40%, respectively.1
"We invest in innovation for impact and Smileyscope's virtual reality headset is a powerful example of how technology can make a real difference in people's lives," said Grant Dooley, CEO of Breakthrough Victoria.
Smileyscope was founded by two physicians, Dr. Evelyn Chan, a pediatric doctor and Rhodes Scholar, and Dr. Paul Leong, an adult pulmonology and sleep specialist. Their technology has been adopted internationally for pain management in the Infusion Therapy Standards of Practice, and has transformed over 100,000 clinical experiences globally.
"This investment will allow us to further unlock market opportunities internationally, resulting in more patients benefitting from Smileyscope's revolutionary technology," said Dr. Evelyn Chan, co-founder and CEO of Smileyscope.
Smileyscope has been adopted in 100% of Australian Children's Hospitals and is operationally profitable in Australia. Smileyscope is rapidly expanding across leading Children's Hospitals throughout the US, including Children's Hospital of Orange County, Boston Children's, Nicklaus Children's, and numerous other Best Children's Hospitals ranked in the U.S. News & World Report's 2022-23.
"Our vision is to bring comprehensive digital therapies directly to the bedside, aimed at treating procedural pain and anxiety while reducing the costs of healthcare," said Dr. Paul Leong, co-founder and Chief Medical Officer of Smileyscope. "This latest financing recognizes the strides we've made in building a platform that will ultimately be a standard tool for all providers," said Dr. Leong.
To learn more about the Smileyscope device and where you can find it, visit www.smileyscope.com.
- Chan E, Hovenden M, Ramage E, Ling N, Pham JH, Rahim A, et al. Virtual Reality for Pediatric Needle Procedural Pain: Two Randomized Clinical Trials. J Pediatr. 2019 Apr 29;209:160–7.
About Smileyscope:
Smileyscope is a leading pioneer in virtual and augmented reality (VR/AR) therapeutics focused on managing pain, anxiety, and mental health for patients. The company has patented fundamental innovations in VR/AR and has the only medically-designed virtual reality headset worldwide. The company currently has multiple clinical trials underway and is rapidly expanding its product offerings into additional patient segments.
For more information about Smileyscope, please visit their website at www.smileyscope.com.
About Breakthrough Victoria:
Breakthrough Victoria is an independent company that manages a $2 billion investment fund set up by the Victorian Government to support innovative people and ideas, from inception to large-scale growth. They connect investors, research institutions, governments, and companies to commercialize innovations that create jobs and deliver prosperity for Victoria. Their mission is to make Victoria a global innovation leader over the next decade and beyond.
For more information about Breakthrough Victoria, please visit their website at www.breakthroughvictoria.com.
Media Contact
Cristy Brusoe, Smileyscope, 1 6518955842, [email protected], https://www.smileyscope.com
SOURCE Smileyscope
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