Neurotech is a rapidly evolving field with immense potential to transform how we treat mental illnesses. At **PsyMed Ventures,** we believe neurotech solutions can be safe and effective, and will be integrated into mainstream mental healthcare this decade.
In this overview, we created a market map of companies developing cutting-edge neurotech solutions for mental health. By directly interfacing with the brain or nervous system, neurotech can deliver more targeted and personalized treatments that may be more effective for certain individuals where other treatments have failed.
This market map’s focus is neuropsychiatry — which addresses indications like anxiety, depression, PTSD, and ADHD. We also included devices focused on mindfulness. We’ve deliberately excluded most brain-computer interface companies since they are initially focused on addressing speech and motor paralysis, as well as companies concentrating on other conditions (e.g. neurological disorders like Parkinson’s or Alzheimer’s). Gotta stay focused.
We invite neurotech founders to engage with us, to empower more investors to explore neurotech’s capabilities, and to educate those curious about neurotech for mental health in order to build foundational knowledge to support the space.
We welcome your company suggestions at the bottom of this living document.
Neurostimulation uses electrical or magnetic impulses to stimulate nerves or brain regions for therapeutic purposes. Neurostimulation has been demonstrated to be effective in treating conditions such as depression, anxiety, OCD, and ADHD.
One of the primary advantages of neurostimulation is its ability to target specific brain regions and neural circuits implicated in mental health disorders. For example, transcranial magnetic stimulation (TMS) can target brain regions associated with depression (left prefrontal cortex) or OCD (anterior cingulate cortex). This targeted approach allows for personalized treatment plans that can be tailored to each patient's unique neurobiological profile, leading to improved outcomes and reduced side effects.
Neurostimulation can be non-invasive, semi-invasive, or fully invasive. There are several non-invasive stimulation techniques, including TMS, transcranial electrical stimulation (TES), transcutaneous electrical nerve stimulation (TENS), tVNS (transcranial vagus nerve stimulation), and transcranial Focused Ultrasound (tFUS). Each technique uses a different method to deliver a low level of electrical or magentic energy to specific regions of the brain. The goal is to modulate neural activity and/or alter the balance of neurotransmitters in the brain.
Invasive neurostimulation stimulates the brain through the use of implanted electrodes. Deep Brain Stimulation (DBS) is FDA approved for Parkinson’s and has received FDA breakthrough device designation for Treatment Resistant Depression — this technique involves sending electrical impulses to modulate brain activity via thin wires that are implanted into targeted areas of the brain (the implant is connected to to a pulse generator implanted in to the chest). An alternative invasive approach is Vagus Nerve Stimulation (VNS), which stimulates the brain via an implanted device under the skin through the vagus nerve. VNS is FDA approved for Difficult to Treat Depression and Epilepsy.
Semi-invasive neurostimulation stimulates the brain through the use of implanted electrodes in a minimally-invasive procedure. Semi-invasive implants are placed outside the dura layer of the brain or under the dura (subdural), but doesn’t touch the brain directly. This technique has the potential of being more effective than non-invasive techniques because currents don’t need to pass through the skull (which has low conductivity). Companies like Motif Neurotech and Inner Cosmos are pursuing FDA approval.
Audio/visual stimulation devices are a form of neurofeedback that use visual (light) and auditory (sound) stimuli to induce certain brainwave patterns, with the aim of improving mental health and well-being.
An example of audio/visual stimulation devices is brainwave entrainment devices that use sound and/or light to synchronize brainwaves with specific frequencies. These devices can used for relaxation and meditation, as well as to improve focus and attention.