Given a von Neumann algebra $M$, let $$ S(M) = \{u\in M: uu^*u=u\} $$ be the set of partial isometries in $M$. Given $u,v\in S(M)$, it is well known that $uv \in S(M)$, provided $u^*u$ commutes with $vv^*$.
Now suppose that $N$ is another von Neumann algebra and that $$ \varphi :S(M)\to S(N) $$ is a bijective function such that:
for every $u,v\in S(M)$, such that $u^*u$ commutes with $vv^*$, one has that $\varphi (u)^*\varphi (u)$ commutes with $\varphi (v)\varphi (v^*)$, and $\varphi (uv)=\varphi (u)\varphi (v)$.
$\varphi ^{-1}$ satisfies (1).
Does it follow that $\varphi $ extends to an isomorphism from $M$ to $N$?