Neurovalens has used Invest Northern Ireland support for research and development (R&D) to develop Modius, a weight loss device which combines neuroscience & technology to solve health issues.
Neurovalens makes wearable technology which can modify metabolism rates, appetite and fat storage.
Congratulating the company, Invest NI’s Director of Innovation, Research and Development Dr Vicky Kell said: "Modius is an extremely innovative product developed through Invest NI support for R&D, has global export potential and is yet another example of how a partnership approach with Invest NI can reap significant benefits for a company. Since participating on the Invest NI Propel Programme in 2015, Neurovalens has gone on to focus on growing its business, developing a ground-breaking product which has the potential to revolutionise the global weight loss industry."
Since participating on the Invest NI Propel Programme in 2015, Neurovalens has gone on to focus on growing its business, developing a ground-breaking product which has the potential to revolutionise the global weight loss industry.- Dr Vicky Kell, Invest NI
Invest NI has offered Neurovalens £259,000 towards research and development to create Modius, create 7 new roles and assist the company’s marketing activities.
"This investment forms part of Neurovalens’ long term growth strategy. The product is already creating a buzz in the US for the technology and their plans to crack the US market are well underway" she continued.
"This is a great example of how investment in innovation, research and development is critical to Northern Ireland businesses as it enables a business to anticipate and respond to the changing requirements of its customers and take advantage of emerging opportunities."
Neurovalens was founded by a team of British doctors and neuroscientists, Paul McGeoch and Jason McKeown.
Jason McKeown, Co-founder and CEO of Neurovalens said: “The first generation of wearable tech devices had a huge impact on the world, helping millions better understand their physical output. Modius is part of an exciting second generation of wearable tech and is a product that actively improves health rather than simply measuring.
Invest NI has been an invaluable source of support to us over the years...- Jason McKeown, Neurovalens
“Invest NI has been an invaluable source of support to us over the years and it is this support which has helped us to grow to where we are today. Our focus now is on growing export sales in key target markets in the US and UK.
“We believe there are tens of millions of people who will find they can become leaner through use of the Modius device. We also know that neuroscience and technology can be combined to affect all sorts of other health issues which in effect gives our company a very robust product pipeline.”