Month: February 2018

Flow Neuroscience raises USD 1.1M to develop device to treat depression

Flow Neuroscience, a Skåne-based medtech company and member of HealthTech Nordic, is developing a new treatment for depression which includes a headset and mobile application. They have now secured a $1.1 million seed round from Silicone-valley based Khosla Ventures, among others.

The funding will enable Flow to complete the regulatory process, get its first product approved in the EU, and grow its team.

Major Depressive Disorder (MDD) – commonly known as depression – is a mental disorder affecting around 21M people in Europe and 350M worldwide (4,7% of the world population). Depression is the costliest brain disorder in Europe and in addition, most cases of suicides can be attributed to depression.

“We want to stop this epidemic by offering a solution that is not only effective, but holistic, safe, and that patients can use at home or anywhere,” said Flow Neuroscience’s CEO and clinical psychologist Daniel Månsson.

“Depression is a global health issue of enormous impact. Scalable technologies that can help treat sufferers in their own homes could be a huge benefit to both quality of life and decreased disability. The Flow Neuroscience team combines a deep knowledge of cutting edge technologies with human design sensibilities and adds to that a great practical experience in mental health. We look forward to working with the team in helping people around the world struggling with depression,” said Alexander A. Morgan, MD PhD, Khosla Ventures.