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Press release, Helsinki, 10 May at 2.00 pm (EET)
Nexstim enters depression therapy market in Sweden
Nexstim Plc (NXTMH:HEX, NXTMS:STO), 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 business partner PO Medica AB has sold two Navigated Brain Therapy (NBT®) systems to two different hospitals Sweden.
Both hospitals will be the first in Sweden to have the NBT® systems and it will be their first time using navigated Transcranial Magnetic Stimulation (TMS) for the treatment of MDD. The systems will be used for the treatment of depression in patients who failed to respond to antidepressant medications.
Per Olander, owner and CEO of PO Medica AB, Nexstim's distributor in Scandinavia, commented: "We are happy to see that Nexstim's SmartFocusTM TMS technology will now be used also for the therapy applications in Sweden, like we have seen before in every University Hospital in Finland. Following these first sales we believe further clinics and patients in Sweden will see the benefits of the NBT® system for the treatment of MDD.
Martin Jamieson, Chairman and CEO, Nexstim plc commented: "We are pleased that Nexstim, who already has several NBS systems installed in Sweden, is now entering the Swedish depression therapy market with multiple NBT® system sales. Placing the NBT® systems in Sweden marks an important milestone for us as we look to strengthen our focus on depression treatment.
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 SmartFocusTM 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.
For more information please visit www.nexstim.com.
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