BELFAST health-tech firm Neurovalens has secured new funding from Invest NI towards the development of mental health treatments.
The company, which specialises in in non-invasive neuro-technology, has been offered a £225,000 R&D grant for the work which will target generalised anxiety disorder, insomnia and post-traumatic stress disorder (PTSD).
Neurovalens, which now has a base in San Diego, has already developed medical devices using low-level electrical stimulation to deep parts of the brain and nervous system to cure or treat neurological diseases without the need for implanted electrodes.
The company said it will now undertake a series of clinical trials to establish the safety and efficacy of the technology when used as a treatment of anxiety disorders.
Neurovalens said that work will involve an international academic collaboration between research facilities of Ulster University, Coleraine, and the University of California, San Diego.
Last year it raised £5.2m from UK and Irish investors, which has been used to expand existing clinical trials, fund new trials and develop the application of its technology to the treatment of a wider range of conditions.
Chief executive, Dr Jason McKeown, said: “Anxiety disorders are unfortunately the most common mental health disorders across the world, and in the US alone affect around 20 per cent of the population.
“PTSD accounts for approximately 8 million individual cases. We believe that offering much earlier, non-invasive intervention could be really transformative for someone who is struggling with their mental health.”
Invest NI’s innovation director, Dr Vicy Kell, said: Neurovalens has created a buzz across the world with the introduction of non-invasive innovative health technologies which aim to support consumers with varying health concerns.
“The company first started out on our Propel Programme and since then we have continued to support it to grow through job creation, R&D and marketing activities. It’s great to see another NI company recognise the value of investing in R&D to support competitiveness, job creation and export led growth.”
