Belfast-based neuroscience start-up Neurovalens has raised £2.1 million.

The start-up’s flagship devices look to treat insomnia and general anxiety disorder (GAD) using non-invasive electrical stimulation of the brain.

The fundraising comes after one of its devices, named Modius Stress, received approval from the US Federal Drug Administration (FDA).

This means the device can be sold directly to US consumers, provided that they have been given a prescription by a doctor.

Modius Stress attempts to treat anxiety by delivering small electrical pulses to the head for 30 minutes before bed.

Neurovalens said it is targeting a roughly £30 million to £40 million Series B fundraising round for later this year.

In addition, the company says it will continue to run more clinical trials in areas such as the treatment of PTSD and obesity.

Dr Jason McKeown, chief executive of Neurovalens, said: “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.

“GAD affects an estimated 6.8 million adults in the US, over three per cent of the population, with women twice as likely to be affected as men, according to the American Depression and Anxiety Association. Modius Stress is a non-invasive device that treats the underlying issue to improve the lives of patients.

“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 Belfast firm has previously raised around £11 million in equity funding from a variety of UK investors including Wharton Asset Management, IQ Capital, Techstart Ventures, Angel Co Fund, Beltrae Partners, Clarendon Fund Management and British Business Bank.

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