A BELFAST tech firm developing a medical advice to tackle obesity has announced plans to create 22 new jobs to support its growth.
Neurovalens has already developed the weight loss device Modius, which stimulates the brain via a headset to reduce your and decrease appetites.
The company is now embarking on the development of what it hopes will be a new ground-breaking neuroscience-based medical device for the treatment of obesity.
Set up by Dr Jason McKeown, the tech firm recently secured £4.6 million from a number of equity investors, including Invest NI’s TechstartNI fund.
Invest NI said it has now offered the firm another £1m for its new research and development programme.
Neurovalens says the new device will be a regulatory approved medical product.
The grant aid will enable the Belfast firm to carry out clinical trials alongside Ulster University and University of California in San Diego to prove its effectiveness.
It will also see the medical tech firm expand its workforce to 36.
Dr McKeown, who was recently awarded the Helen Ramsey Turtle Scholarship at Queen’s University said the pursuit of the second device represents an exciting period for the start-up.
“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,” he said.
“Invest NI has been a great source of support to us since we set up the company in 2013. We benefitted from taking part in the Propel programme, and received R&D grant support to develop our Modius product.
“This latest offer of assistance is allowing us to capitalise on the success of Modius and will help us achieve our growth targets, generating significant new export sales.”
Invest NI’s innovation director, Dr Vicky Kell said: “Neurovalens has developed innovative, disruptive technology that has huge market potential given the global epidemic of obesity and associated health complications.”
She said said the company’s Modius device has revolutionised the weight loss industry, helping thousands of people in the process.
“The company is a great example of how a partnership approach with Invest NI can deliver a commercial success story for Northern Ireland.”
