Neurovalens raises £2.1M for FDA-cleared wearable neurostimulation for anxiety
Summary
Neurovalens raised £2.1 million in Series A extension funding from existing investors including MedTech Innovator, Invest Northern Ireland, Techstart Ventures, Angel Co Fund, Beltrae Partners, Clarendon Fund Management, and IQ Capital. The Belfast-based healthtech company received FDA clearance for its Modius Stress device to treat generalized anxiety disorder, making it one of the few non-invasive wearable neurostimulation products with FDA clearance for a mental health indication.
Why it matters
Neurovalens achieved a significant regulatory milestone with FDA clearance for Modius Stress, enabling prescription sales across the US for the 6.8 million adults suffering from generalized anxiety disorder. The company's non-invasive approach delivers small electrical pulses to the head during 30-minute bedtime sessions, offering a drug-free treatment alternative. This funding positions the company for US commercial expansion while supporting additional FDA submissions.
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