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Belfast’s Neurovalens raises £2.1m for wearable anxiety treatment

Image credit: Neurovalens

Neurovalens, a health tech startup using neuroscience to tackle a range of medical issues, has raised £2.1m.

Belfast-based Neurovalens’ latest product is a wearable headband that uses electronic brain stimulation to treat anxiety.

The Modius Stress headband delivers small electrical pulses to the head for about 30 minutes. The device is intended to be used before sleep.

Modius Stress was recently approved by health regulators in the US as a medical device for treating generalised anxiety disorder.

“Having the Modius Stress technology as a certified medical device for the treatment of generalised anxiety disorder is the next meaningful step for the company as we focus on continued growth in the US market,” said Neurovalens CEO Dr Jason McKeown.

“We believe that the low-risk, non-invasive therapeutic intervention offered by Neurovalens technology will be truly transformative for a range of serious medical conditions and this latest clearance moves us further towards that goal.”

The approval from the US Food and Drug Administration (FDA) means the Northern Irish startup can start selling its products in the American market.

The company’s new funds came from previous backers including MedTech Innovator, Invest Northern Ireland, Techstart Ventures, Angel Co Fund, Beltrae Partners, Clarendon Fund Management, British Business Bank, IQ Capital and Wharton Asset Management.

The startup has previously raised around £11m in equity funding.

Read more: Northern Ireland tech firms attract record funding