Michigan Rise Invests in Wide Awake VR, Technology Which Reduces the Need for Sedation During Medical Procedures
EAST LANSING, Mich. –– Michigan Rise has expanded its MedTech portfolio by investing in Wide Awake VR, based in Ann Arbor. Wide Awake VR is an enterprise platform for curating and administrating immersive patient experiences using virtual reality (VR). The experience can reduce or eliminate the need for sedation and reduce pain and anxiety resulting from certain medical and dental procedures. This partnership with Michigan Rise will help the company accelerate the commercialization of the product and capitalize on its first-mover advantage in the MedTech space.
"Michigan Rise is thrilled to partner with Wide Awake VR in expanding our MedTech portfolio," said Matt Okoneski Senior Venture Associate at Michigan Rise. "Their innovative virtual reality platform has the potential to revolutionize patient experiences and improve outcomes in medical and dental procedures."
Pioneered by Michigan State University professor James Clarkson, MD, Wide Awake VR’s technology aims to improve outcomes during medical and dental procedures by avoiding deep sedation or general anesthesia and can reduce the costs of those procedures by up to 30 - 60 percent. The system includes proprietary hardware, software, and custom content that does not require an internet connection. Patients begin by completing a survey that helps care professionals determine the best content to use. The survey results create a QR code that travels with the patient, eliminating the storage of protected health information. The patient then puts on the virtual reality headset to view content as they undergo the procedure, ranging from routine dental care to carpal tunnel hand surgery. With Wide Awake VR's solution, the care professional can always control the patient's experience and adjust the content and settings through a tablet connected to the headset via a Virtual Private Network.
"Our immersive multimedia system represents a significant breakthrough in patient care," said James Clarkson, MD, CMO and Co-Founder of Wide Awake VR. "By using virtual reality, we can reduce anxiety and pain, while also improving safety and cost-efficiency in healthcare settings. We’re excited to collaborate with Michigan Rise to bring this groundbreaking technology to a wider audience."
The company has completed four IRB-approved studies, and six clients have conducted trials.
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About Michigan Rise
Michigan Rise is a wholly owned venture capital subsidiary of the Michigan State University (MSU) Research Foundation, operated in partnership with the Michigan Economic Development Corporation (MEDC). Michigan Rise provides early-stage funding to innovative companies that have the potential to transform industries and create jobs in Michigan.
About Wide Awake VR
Wide Awake VR is an Ann Arbor-based company that produces an enterprise platform for the curation and administration of immersive patient experiences using virtual reality for application in the MedTech space. Wide Awake's VR experience can reduce or eliminate the need for sedatives and reduce pain and anxiety resulting from medical procedures.