MLVIR Virtualware 2007 SA

Continued development of virtual reality tool aims to improve rehabilitation outcomes after stroke 

East Hanover, NJ – December 7 , 2023 – Kessler Foundation, a leader in rehabilitation research and Virtualware, a frontrunner in Europe's virtual reality market join forces in a new $352,000 deal to continue further research and development aimed at advancing  spatial neglect rehabilitation using virtual reality (VR) and tele-rehabilitation technology. 

This latest development stems from a strong, ongoing partnership initiated in 2018 between the VR innovator and the New Jersey-based disability-focused non-profit. 

The intervention, known as Kessler Foundation Spatial Retraining Therapy (KF-SRT®), continues to be developed under the direction of the Foundation’s senior research scientist Peii Chen, PhD, at the Center for Stroke Rehabilitation Research. KF-SRT aims to enhance control of spatial attention and body-environment awareness through an immersive training process, which is a safe, interactive, and game-like VR environment. The flexibility of the portable VR equipment allows KF-SRT to be implemented in various clinical and home settings.  

“Since 2018, this partnership has been marked by continuous innovation and has revealed a significant advance in the development of immersive VR technology for the treatment of spatial neglect, a hidden disability among individuals who have sustained stroke and other types of brain injury,” said Dr. Chen. Spatial neglect disrupts basic self-care and daily activities, hindering rehabilitation outcomes and functional recovery. 

“KF-SRT is grounded in established theories of neurorehabilitation for spatial neglect. By making the treatment game-like, we improve patient engagement and motivation to complete the treatment regimen while receiving rehabilitative benefits,” noted Dr. Chen. “As VR hardware and software become more affordable and accessible, innovative therapy paradigms like KF-SRT will continue leading the way in rehabilitation, facilitating treatment delivery, improving outcomes, and reducing the burdens on individuals, families, and society.” 

KF-SRT engages the user's visual system through stimuli presented in a head-mounted display while simultaneously engaging their motor system through head and positional tracking and a marker-less hand-tracking device. The Annals of Physical Medicine & Rehabilitation published "Immersive virtual reality treatment for spatial neglect: An agile user-centered development process" (DOI: 10.1016/j.rehab.2021.101592), authored by Dr. Chen and Denise Krch, PhD, senior research scientist in the Center for Traumatic Brain Injury Research in which they reported that therapists expressed unanimous satisfaction with the KF-SRT user interface, and patients have reported a preference for the VR experience over conventional therapy.  

Julio Alvarez, Global Healthcare Strategy Director at Virtualware remarks “For many years, we have been working at the intersection of digital technology and health, developing innovative solutions derived from the latest scientific research and the collective experience of our team. The current project continues to pose an attractive technological challenge for Virtualware, and we are excited to deliver a series of digital interventions that may aid individuals with neuropsychological impairment on their road to recovery”. 

“In this landmark collaboration with the Kessler Foundation, we at Virtualware are excited to push the boundaries of virtual reality in rehabilitation. Our commitment, through this important deal, is to innovate and expand our VR technologies for the betterment of those suffering from spatial neglect” Unai Extremo, CEO of Virtualware, concluded.  

Virtualware is a global pioneer in developing Virtual Reality solutions for major industrial, educational, and healthcare conglomerates. Since its founding in 2004, the company has garnered widespread recognition for its accomplishments.  In 2021, Virtualware was acknowledged as the world’s most Innovative VR Company. It is based in Bilbao, Spain, and has offices in Hamilton, Ontario, Canada. 

The company went public on Euronext Access Paris in April 2023, where its stock currently trades at 7.50 euros a share. 

Kessler Foundation, a major nonprofit organization in the field of disability, is a global leader in rehabilitation research. Our scientists seek to improve cognition, mobility, and long-term outcomes, including employment, for adults and children with neurological and developmental disabilities of the brain and spinal cord including traumatic brain injury, spinal cord injury, stroke, multiple sclerosis, and autism. Kessler Foundation also leads the nation in funding innovative programs that expand opportunities for employment for people with disabilities. For more information, visit KesslerFoundation.org.  

Safe Harbor StatementThis document is only provided for information purposes and does not constitute, nor should it be interpreted as, an offer to sell or exchange or acquire, or an invitation for offers to buy securities issued by any of the aforementioned companies. Any decision to buy or invest in securities in relation to a specific issue must be made solely and exclusively on the basis of the information set out in the pertinent prospectus filed by the company in relation to such specific issue. No one who becomes aware of the information contained in this report should regard it as definitive, because it is subject to changes and modifications.

This document contains or may contain forward looking statements regarding intentions, expectations or projections of Virtualware 2007, S.A. (“Virtualware” or the “Company”) or of its management on the date thereof, that refer to or incorporate various assumptions and projections, including projections about the future earnings of the business. The statements contained herein are based on our current projections, but the actual results may be substantially modified in the future by various risks and other factors that may cause the results or final decisions to differ from such intentions, projections or estimates. These factors include, without limitation, (1) the market situation, macroeconomic factors, regulatory, political or government guidelines, (2) domestic and international stock market movements, exchange rates and interest rates, (3) competitive pressures, (4) technological changes, (5) alterations in the financial situation, creditworthiness or solvency of our customers, debtors or counterparts. These factors could cause or result in actual events differing from the information and intentions stated, projected or forecast in this document or in other past or future documents. Virtualware does not undertake to publicly revise the contents of this or any other document, either if the events are not as described herein, or if such events lead to changes in the information contained in this document. This disclaimer needs to be taken into account by those persons which may take a decision over the base of this document or to elaborate or disseminate opinions based hereof.  This document may contain summarised information or information that has not been audited. This document is confidential and it cannot be revealed or disclosed to third parties different from the original recipients, even partially, without Virtualware’s prior consent.

Virtualware 2007 (EU:MLVIR)
Gráfico Histórico do Ativo
De Nov 2024 até Dez 2024

Virtualware 2007 (EU:MLVIR)
Gráfico Histórico do Ativo
De Dez 2023 até Dez 2024