Neurovalens secures £750,000 funding for new sleep aid product
Belfast health tech company will bring Modius Sleep device to US market later this year
Dr Jason McKeown, founder and CEO of Neurovalens: ‘We estimate nine million Americans use sleep medication, so Modius Sleep will be a breakthrough device in sleep science’
The medtech company, which has already pioneered a headband which can assist people to lose weight, is now set to bring its Modius Sleep product to the US market later this year.
Dr Jason McKeown, founder and CEO of Neurovalens, said Modius Sleep is a drug-free, non-invasive headset that actively stimulates key sleep neurons in the brain to improve sleep.
“By sending a safe electrical pulse to the vestibular nerve and hypothalamus the Sleep headset reduces the time it takes to fall asleep and keeps you asleep for longer. We estimate nine million Americans use sleep medication, so Modius Sleep will be a breakthrough device in sleep science when we launch later this year,” Dr McKeown said.
The Belfast company secured its latest round of financial backing from the £30 million Growth Finance Fund, which is supported by the British Business Bank, Invest Northern Ireland and private investors Northern Ireland Local Government Officers’ Superannuation Committee.