Company announcement, Helsinki, 25 May 2021 at 12:30 PM (EEST)
Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or "Company") announces that it has extended its agreement with Canadian Health Solutions group, the Company’s distributor in Canada, for an additional five years.
The agreement continues to focus on the distribution of Nexstim’s NBT® systems for the treatment of Major Depressive Disorder. In conjunction with this extension, the distributor has ordered three NBT® systems and corresponding head trackers.
Mikko Karvinen, CEO of Nexstim, comments: “Considering the challenges presented by the global pandemic over the last 14 months, our relationship with Canadian Health Solutions has only strengthened. I am impressed by Dr. David Elias and his competent team and believe this initial order of three systems is only the beginning of providing Canadians with access to the most personalized TMS treatment for depression. There is great opportunity in this partnership.”
Further information is available on the website www.nexstim.com or by contacting:
Mikko Karvinen, CEO
+358 50 326 4101
Erik Penser Bank AB (certified adviser)
+46 8 463 83 00
About Nexstim Plc
Nexstim is a Finnish, globally operating medical technology company. Our mission is to enable personalized and effective therapies and diagnostics for challenging brain diseases and disorders.
Nexstim has developed a world-leading non-invasive brain stimulation technology called SmartFocus®. It is a navigated transcranial magnetic stimulation (nTMS) technology with highly sophisticated 3D navigation providing accurate and personalized targeting of the TMS to the specific area of the brain.
SmartFocus® technology is used in Nexstim’s proprietary Navigated Brain Therapy (NBT®) system, which is FDA cleared for marketing and commercial distribution for the treatment of major depressive disorder (MDD) in the United States. In Europe, the NBT® system is CE marked for the treatment of major depression and chronic neuropathic pain.
In addition, Nexstim is commercializing its SmartFocus® based Navigated Brain Stimulation (NBS) system for diagnostic applications. The NBS system is the only FDA cleared and CE marked navigated TMS system for pre-surgical mapping of the speech and motor cortices of the brain. Nexstim shares are listed on the Nasdaq First North Growth Market Finland and Nasdaq First North Growth Market Sweden.
For more information please visit www.nexstim.com