Nexstim Plc (NXTMH:HEX, NXTMS:STO), a medical technology company aiming to improve rehabilitation for stroke patients with the use of non-invasive brain stimulation, announces that the following resolutions were adopted at its extarordinary general meeting of shareholders held today on 22 December:
Composition of the Board of Directors
The extraordinary general meeting resolved the number of the members of the Board of Directors at eight. Martin Jamieson was elected as a new member of the Board of Directors. The members of the Board of Directors who were elected in the annual general meeting on March 31, 2015 shall continue to be Board members. Martin Jamieson was elected as the Chair and Olli Riikkala as the Deputy Chair.
The new Board member, Martin Jamieson, has had a career in the pharmaceutical industry with Wyeth (Pfizer) and 3M, joined Smith Medical (part of the FTSE 100 Smiths Group) as Director and Divisional Managing Director culminating in his final position as Managing Director of Smiths Medical International. He was then appointed CEO of Rayner Group, a globally based ophthalmology company which developed the first intraocular lens. Having stepped down from his full time CEO role, Martin has taken up a number of Non-Executive Directorships with LightPoint Medical, C-Major Ltd., and Medway NHS Hospital Foundation Trust where he is a Senior Independent Director and Audit Chair. He also consults on international market development and is a senior advisor to a European private equity house.
Commenting on his appointment to the Board of Directors as Chairman, Martin Jamieson said: “Nexstim is a company with exceptional technology which promises to have a significant, positive impact on those undergoing stroke therapy and I very much look forward to helping guide this through to success. The Company’s management team, technology, expertise and vision are sector-leading and the further applications for this technology continue to grow.”
Minutes of the general meeting
The minutes of the general meeting will be published on, or by, 5 January 2016, on Nexstim's website.
Janne Huhtala, CEO
Janne Huhtala, Chief Executive Officer
+358 (0)40 8615046
UB Securities Ltd (Certified Adviser)
+358 (0)9 2538 0246
Consilium Strategic Communications
Mary-Jane Elliott / Ivar Milligan / Laura Thornton
+44 (0)20 3709 5700
About Nexstim Plc
Nexstim is a medical technology company aiming to improve rehabilitation for stroke patients. Nexstim has pioneered its technology in brain diagnostics with the Navigated Brain Stimulation (NBS) system as the first and only FDA-cleared and CE-marked navigated Transcranial Magnetic Stimulation (nTMS) device for pre-surgical mapping of the motor and speech cortices. Based on the same technology platform, the company has developed a device for stroke therapy called Navigated Brain Therapy (NBT®). In H1 2014, Nexstim initiated a two-year pivotal Phase III study at 12 sites in the US aiming to demonstrate the effectiveness of NBT® and gain FDA clearance for commercialisation in post-acute stroke therapy in the US. Nexstim's shares are listed on Nasdaq First North Finland and Nasdaq First North Sweden. In H2 2015, the Company received a recommendation from the Data Safety Monitoring Board (DSMB) to continue the Phase III stroke therapy NICHE trial without any modifications. The first interim analysis on the NICHE (Navigated Inhibitory rTMS to Contralesional Hemisphere) trial using NBT® was performed after 81 patients reached their primary safety outcome assessment, on track, at six months post-treatment. For more information please visit www.nexstim.com.
About Transcranial Magnetic Stimulation (TMS) and Repetitive Transcranial Magnetic Stimulation (rTMS)
Transcranial Magnetic Stimulation (TMS) is a non-invasive technique that consists of a magnetic field emanating from a wire coil held outside of the head. The rapidly changing magnetic field induces a stimulating electric field in the brain. In repetitive Transcranial Magnetic Stimulation (rTMS) the coil delivers a rapidly pulsed magnetic field in order to modulate cortical function in a region of the brain.
About Navigated Brain Stimulation (NBS)
Navigated Brain Stimulation is a non-invasive technique that allows accurate and detailed mapping of the critical motor and speech functions of the cortex. Through the use of a standard MRI brain scan, transcranial magnetic stimulation, and EMG, the NBS mapping stimulates areas of the cortex and records motor responses. With safety and reliability proven via clinical and diagnostic utilisation, Nexstim’s NBS has validated the approach for the NBT® technology which has broadening potential therapeutic applicability.
Navigated Brain Therapy (NBT®) is a non-invasive system that uses navigation to accurately target therapy directly to the cortical structures believed to be involved in brain dysfunctions. The device is CE-marked to offer patients a personalised treatment for major depression. In addition, the system is CE-marked for use in patients recovering from stroke as a supplement to conventional rehabilitation.