Nexstim first developed the NBS system in 2003 as a diagnostics tool in pre-surgical mapping, demonstrating the safety, accuracy and reliability of the SmartFocusTM TMS technology. This established a regulatory base and market foundation for the use of the technology in other more commercially profitable therapy markets, such as stroke, depression and pain.
Nexstim successfully completed an IPO in November 2014, raising EUR 15.3 million through listing on both Nasdaq First North Finland and Nasdaq First North Sweden, to support its growth and operational strategy.
Nexstim’s NBT® system received the CE mark for the treatment of stroke and depression in 2014 and chronic pain in 2016. It was also cleared by the FDA for depression in November 2017.
Nexstim’s NBT® system is currently in an important ongoing supplemental Phase III study, E-FIT trial, for its use in stroke rehabilitation, expected to complete in mid-2018, allowing Nexstim to file for FDA clearance. FDA clearance would allow Nexstim to start marketing and selling its NBT® system for stroke rehabilitation in the US.
Nexstim's technology has been successful in receiving positive research attention and utilization by key opinion leaders (KOLs).