Who We Are
Founded in Finland in 2000, Nexstim is a growth-oriented medical technology company operating in the international market. 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 has subsidiaries in the United States (Nexstim, Inc.) and in Germany (Nexstim Germany GmbH).
Over 240 NBS systems and over 100 systems that include therapy functionalities have been delivered to facilities worldwide for neurosurgical planning, multiple therapies, and research.
What We Do
Diagnostics
One of the most crucial pieces of information needed for neurosurgery is the tumor’s or other brain lesion’s location in relation to the essential functions and their connections in the patient’s brain. nTMS mapping with Nexstim’s system is used when the tumor is thought to be close to important motor and language areas in the patient’s brain. These brain maps are useful when deciding the treatment option.
Key authority approvals (NBS System 5):
- FDA approved for presurgical mapping of the speech and motor cortices of the brain.
- CE marked for presurgical mapping of the speech and motor cortices of the brain.
Therapy
If pharmaceuticals are not working or a non-drug option is wanted, nTMS conducted with Nexstim’s system might be the answer for treatment of major depressive disorder or for chronic neuropathic pain.
Key authority approvals (NBT® System 2 and NBS System 6):
- FDA approved for the treatment of major depressive disorder
- CE marked for the treatment of major depressive disorder and chronic neuropathic pain.
Customers have the possibility of acquiring a system that has either diagnostic or therapy functionalities, or a system combination that enables the delivery of both applications in the same system.
Summary of CEO Mikko Karvinen's review of H2 and full year 2024:
"The end of 2024 was in line with our expectations for Nexstim in terms of net sales growth and profit improvement. During the second half of 2024, we achieved record total net sales of EUR 5.6 (4.7) million with a 17.2% increase. I would like to thank Nexstim's customers, employees, partners and investors for the continuation of this positive development.
In line with our main objective of Nexstim's strategy 2025-2028, we have continued to focus on profitable revenue growth and our sales forecast for 2025 looks promising. This growth is now supported by our strengthened global network of distributor partners following the Brainlab partnership agreement at the end of last year, which we are now seeking to capitalise on from the outset, particularly in the marketing and sales of diagnostic systems in the US and Europe. In addition to this collaboration, Nexstim's direct sales and marketing activities will have significant opportunities to develop our Therapeutics business, research and neuroscience customers and our network of clinical partners. We are also continuing negotiations with our partner Sinaptica for a definitive agreement with the aim of enabling them to further explore Alzheimer's treatment and thereby potentially enter a long-term partnership to further scale up the use of our technology in care.
In line with our strategy for 2025-2028, Nexstim will continue to enable patients to receive personalized and effective treatment and diagnostics for severe brain diseases and disorders. During 2024, we invested in a process of close interaction between Nexstim's Board of Directors, management team, staff and our clientele to update our strategy. The implementation of the strategy is already underway and more detailed plans and potential projects will follow in the new year 2025 alongside the promotion of the business. The company's first strategic objective for 2025 is to continue profitable net sales growth and improve the operating result for the financial year. The growth and profitability performance of both our Diagnostics and Therapy businesses will play a key role in our efforts to minimize our future capital requirements on our journey towards continuous profitability. As specific strategic customer groups, we want to continue to highlight research, neuroscience and our clinic partners as we promote new features, business models and indications for our future systems. Partnerships are also likely to become more important in future Therapy business as we leverage our unique expertise and technology in still emerging therapeutic areas.
Our other main strategic objective for 2025 is to successfully support the long-term collaboration between Nexstim and Brainlab and expand the network of other partners and clinics, primarily in the US. In late November 2024, we announced that Nexstim Plc and Brainlab AG started a collaboration by entering into a development and distribution collaboration agreement and agreeing to an equity investment of up to EUR 5,095,000 in Nexstim. This collaboration agreement is historic for Nexstim, and I strongly believe that the combination of Nexstim's technological know-how and first-class services with Brainlab's innovative products, which have significant business growth potential and fit with Nexstim's offering and customer base of leading global hospitals, will create maximum value for patients, neurosurgeons, hospitals and shareholders.
Nexstim's private equity firm, Nexstim Investments, LLC, aims to expand Nexstim's network of partner clinics in the United States in collaboration with carefully selected top experts in the field. During the strategic period we aim to increase the number of Nexstim systems and the number of treatments at our partner clinics.
Our third main strategic objective for 2025 is launching the new NBS 6 diagnostics system in key markets, enabling ease-of-use and future add-on modules in the same system. We will continue to finalize the development of the system and progress regulatory approvals during 2025 so that, in line with our strategic objective, we will also have diagnostic applications launched in the main markets as part of the new NBS 6 system.
Our system is clearly differentiated from other TMS systems on the market today that does not have navigation capabilities. In the future, the need for navigation functionality is likely to become even more prominent in technology to treat brain diseases in an increasingly diverse range of ways. This could open up new markets for TMS treatments for Nexstim beyond severe depression and chronic neuropathic pain.
In June 2024, we announced a planned collaboration with Sinaptica Therapeutics, Inc. for the treatment of Alzheimer's disease. Nexstim announced that it has signed a non-binding letter of intent (LOI) related to a long-term 10-year collaboration agreement with Sinaptica to develop, manufacture and supply SinaptiStimTM-AD systems. The system would be based on the Nexstim NBS 6 medical TMS and neuronavigation systems and associated software, including integrated EEG software. The parties will continue to negotiate definitive agreements for a long-term 10-year collaboration. In January 2025, we also announced that co-development of the SinaptiStim® neuromodulation system is underway, with planned delivery of the first investigational system for validation testing and future clinical trials in March. Nexstim is developing the system to Sinaptica's specifications, integrating a high-resolution 64-channel brain waveform (EEG) analysis system from Bittium, enabling precision calibration of therapy for each Alzheimer's patient. Sinaptica will use the new research system in future clinical trials, several of which are planned to start in 2025.
The technological leadership of our products, ease of use and scalability of additional modules create an attractive platform for growth through partnerships."
Mikko Karvinen, CEO
Page last updated: 27 February 2025
