Oxford Science Enterprises’ health tech portfolio company, OxfordVR, is to combine with BehaVR, to offer comprehensive virtual reality-based treatments for mental health.
Supported by an initial $13 million in Series B funding, the merger of the two digital therapeutic companies will result in the largest VR delivery platform for evidence-based digital behaviour therapies.
OxfordVR describes itself as a provider of evidence-based immersive treatments for serious mental health illness and behavioural health.
Deepak Gopalakrishna, CEO of OxfordVR, said of the merger: “What an exciting time for digital innovation in mental health.
“We’re at a critical inflection point in the industry where the onus will be on companies to bring evidence-based, clinically validated treatments to patients that providers, payers, and employers can confidently stand behind. This brings together two of the leading organisations pioneering this work and will enable us to accelerate that future.”
The newly combined company will be known as BehaVR and will focus on clinically-validated, immersive digital treatments spanning the full spectrum of mental and behavioural health needs.
Each intervention will be tailored to a patient’s unique needs. The multi-sensory virtual reality experiences will treat anxiety, stress, pain and addiction using real-time biometrics, protocols and machine learning models.
BehaVR will use an integrated platform to deliver treatments. The platform will help to simplify the patient experience, enable clinician oversight and generate patient-specific care plans and measurable outcomes.
Aaron Gani, BehaVR founder and CEO, said: “The demand for mental health services far outstrips available resources. Providers need help, and that help is available today through our clinically-validated and evidence-based digital programs.
“In bringing together two innovative virtual reality therapeutics teams, we are positioned to serve the widest range of patient populations possible at a time of intense need.”
In 2020, a social engagement programmme from OxfordVR designed to help patients overcome anxious social avoidance became available via the NHS. The programme uses cognitive behavioural therapy (CBT) within an immersive virtual reality setting.