Press release, Helsinki, 5 August 2019 at 1 pm (EET)
Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or "Company") - the targeted neuromodulation company developing and marketing pioneering navigated personalised, non-invasive brain stimulation systems for the treatment of major depressive disorder (MDD) - announces that its NBT® system has received a medical device licence from the Health Department of Australian Government.
The medical device licence allows Nexstim to start marketing and selling the NBT® system for the treatment of major depressive disorder (MDD) in Australia.
The NBT® system uses a unique technology of nTMS known as SmartFocus® which allows for accurate, reproducible stimulation of the specific area of the brain associated with the treatment of depression.
Martin Jamieson, Chairman and CEO, Nexstim Plc commented: “We are pleased to add Australia as an important market development area for our NBT® system with SmartFocus® technology and are looking forward to take the commercialisation further there.”
Further information is available on the website www.nexstim.com or by contacting:
Martin Jamieson, Chairman and CEO
+44 771 516 3942
Citigate Dewe Rogerson
David Dible/Shabnam Bashir/ Sylvie Berrebi
+44 (0)207 2822949
About Nexstim Plc
Nexstim is a medical technology company focused on the development and commercialization of its world-leading SmartFocus® TMS technology, a non-invasive brain stimulation system for the treatment of Major Depressive Disorder (MDD). The Company’s proprietary Navigated Brain Therapy (NBT®) system, a highly sophisticated 3D navigation, is the only personalised, navigated transcranial magnetic stimulation (TMS) approach providing accurate targeting of the TMS to the specific area of the brain associated with MDD.
Nexstim’s NBT® system has been launched in the US for the treatment of MDD following clearance from the FDA for marketing and commercial distribution for this indication. The NBT® system is CE marked in Europe for the treatment of major depression and chronic neuropathic pain.
In addition, Nexstim is commercialising its Navigated Brain Stimulation (NBS) system for diagnostic applications, based on the same technology. 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 Finland and Nasdaq First North Sweden.