BiPSEE Raises 990 Million Yen in Total Funding to Advance VR Digital Therapeutics for Depression and Regulatory Approval
Funding Overview
BiPSEE Inc. has announced the completion of the second close of its Series A round through a third-party allotment of shares. Combined with this funding and grants from the New Energy and Industrial Technology Development Organization (NEDO), the company's total funding to date has reached 990 million yen. The newly secured capital will be used to advance ongoing clinical trials (confirmatory studies) for its virtual reality digital therapeutic (VRx) targeted at depression patients, as well as to strengthen development and quality assurance systems aimed at securing regulatory approval.
BiPSEE's Business Overview
Operating under the mission of "Shaping a New Form of Healthcare that Cares for the Mind," BiPSEE develops evidence-based mental care solutions utilizing VR and AI. The company's VR digital therapy for depression has been designated by the Ministry of Health, Labour and Welfare as a "Priority Review Item for Software as a Medical Device," positioning it as a promising new treatment option to complement existing pharmacotherapy and psychotherapy.
Background of the Funding and Future Outlook
Depression affects a vast number of patients globally, yet existing pharmacotherapy fails to provide sufficient efficacy in certain cases. BiPSEE has developed a VR therapy focusing on "rumination"—the tendency to repetitively dwell on negative thoughts—and has confirmed promising results in joint clinical studies with Kochi University. Moving forward, the company intends to leverage this funding to accelerate confirmatory trials, aiming for early regulatory approval and implementation in clinical practice.
List of Investors (Underwriters)
- Kyoto University Innovation Capital Co., Ltd. (Innovation Kyoto 2021 Investment Limited Partnership / KYOTO-iCAP Fund II)
- JIC Venture Growth Investments Co., Ltd. (JIC Venture Growth Fund 2 Investment Limited Partnership)