Company Announcement, Helsinki, January 3, 2022 at 12:30 PM (EET)
Nexstim Plc’s (NXTMH:HEX, NXTMS:STO) ("Nexstim" or "Company") US subsidiary Nexstim, Inc. has closed the transaction, first announced on November 22, 2021, regarding a strategic alliance with and a minority ownership in PNC Management Services, LLC. Nexstim, Inc. funded the transaction from cash on hand. The transaction price was approximately EUR 0.5 million.
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 growth-oriented medical technology company. Our mission is to enable personalized and effective diagnostics and therapies for challenging brain diseases and disorders.
Nexstim has developed a world-leading non-invasive brain stimulation technology for navigated transcranial magnetic stimulation (nTMS) with highly sophisticated 3D navigation providing accurate and personalized targeting of the TMS to the specific area of the brain.
Nexstim’s Diagnostics Business focuses on commercialization of the Navigated Brain Stimulation (NBS) system. 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’s Therapy Business markets and sells the 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.
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