Belfast-based medtech firm Neurovalens will create 22 new jobs as part of a new R&D scheme to trial its tech as a treatment for obesity.
Local medical technology company Neurovalens has made a name for itself as a company that makes non-invasive neurostimulation products with the aim of solving major health problems around the world. The firm made waves back in 2017 with the launch of its Modius device, which it claimed could stinulate the part of the brain responsible for apetite and reduce food cravings in those trying to lose weight.
The firm is now starting a new R&D scheme that aims to prove the technology as an effective medical treatment for obesity. The new R&D sceme will see the development of a new device that will be certified as a regulatory approved medical product. Clinical trials of the device in obesity cases will be undertaken in collaboration with Ulster University and University of California San Diego.
The project will involve the creation of 22 new jobs in order to support the expansion of the business, and Invest Northern Ireland is supporting both the R&D project and the creation of new jobs with an offer of over £1million in support. This news comes on the back of the recent securing of £4.6 million in equity funding from investors, including Invest NI’s TechstartNI fund.
"This is an exciting time for the company as we begin development of our second device, which will help tackle the problem of obesity," said Neurovalens Co-founder and CEO Dr Jason McKeown. "We are also growing our team across a range of disciplines from senior management to technical and marketing, to enable us to effectively develop, market, sell and support both the new medical device and Modius.
Source: Written based on press release
