Emphasis on sales growth and clinical data generation
Nexstim is focused on validating and commercialising its personalised SmartFocusTM TMS brain stimulation technology in large therapeutic indications with sub-optimal treatment options, namely stroke, depression and chronic pain.
We are investing in commercial sales, marketing and clinical resources and continue to raise funding accordingly. Our aim is to build sales in the US and large EU markets in currently approved indications, as well as to generate clinical data to obtain regulatory approvals for new important, large markets, for example, stroke in the US. We also recognise that there is a significant untapped market opportunity in Asia and continue to evaluate opportunities in this area on an ongoing basis.
Nexstim’s Navigated Brain Therapy (NBT®) system is in a supplemental Phase III E-FIT trial, for its use in stroke rehabilitation, expected to complete in mid-2018, allowing the Company to file for FDA clearance. The system is FDA cleared for the treatment of depression and commercialisation efforts are now underway in the US.
The NBT® system is CE marked for stroke, depression and chronic pain; focus remains on the largest EU markets where the product has been launched.
Nexstim also aims to fulfil the commercial potential of the SmartFocusTM TMS technology in presurgical mapping through the Navigated Brain Stimulation (NBS) system. We have shifted to a distributor model in the US to drive sales and continue to train distributor representatives and provide them with the latest knowledge and skills to sell the NBS system.
We remain predominantly focused on the potential of our differentiated technology in therapy (NBT®), as this represents a larger market opportunity, with a better model for sales growth in terms of consumables.