AppliedVR
AppliedVR provides immersive virtual reality-based therapeutics for chronic pain management, featuring FDA-authorized products like RelieVRx for lower back pain and has served over 60,000 patients globally.
Services
AppliedVR offers immersive virtual reality-based therapeutics for managing chronic pain. The company's primary service is the provision of RelieVRx, an FDA-authorized at-home VR pain treatment designed for individuals suffering from chronic lower back pain. AppliedVR has successfully served over 60,000 patients in more than 200 hospitals and 1,500 homes across 10 countries.
Products
AppliedVR’s main product is RelieVRx, an FDA-authorized VR device that provides at-home treatment for chronic lower back pain. The company is also developing a pipeline of VRx products aimed at various conditions such as fibromyalgia, opioid sparing treatment for chronic pain, and post-surgical pain management. These products are grounded in extensive research and clinical trials to ensure efficacy and safety.
Research and Collaborations
AppliedVR conducts rigorous research and clinical trials, applying traditional medical device development standards to VR therapeutics. The company collaborates with institutions such as the National Cancer Institute on research projects, including evaluating VR's effectiveness in reducing anxiety among primary brain tumor patients during imaging services. AppliedVR’s commitment to scientific research underscores the credibility and effectiveness of its innovative VR solutions.
Healthcare Contributions
AppliedVR has significantly contributed to the healthcare sector by pioneering VR therapeutics. It was the first company to receive an HCPCS Level II Code from the Centers for Medicare and Medicaid Services for VR as Durable Medical Equipment. Additionally, AppliedVR has secured a contract with the VHA Innovation Ecosystem, a division of the US Department of Veterans Affairs, to further expand the application of VR in treating veterans.
Funding and Patents
To support its ambitious goals and growth, AppliedVR raised $36 million in a Series B funding round. This financial backing is utilized to scale its VR platform for healthcare. The company also holds several patents, including specific patents related to its RelieVRx device, underscoring its innovative edge in the VR therapeutics space.