Press release, Helsinki, 27 August 2020 at 14.30 (EEST)
Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or "Company") announces that Neurological Institute of Los Angeles has purchased a Nexstim NBT® System with SmartFocus® TMS.
The Neurological Institute of Los Angeles (NILA) is a comprehensive, private neurological center that is focused on providing personalized patient care and on advancing neuroscience through novel research and clinical trials. They use Nexstim SmartFocus® TMS technology for depression therapy and research.
This is the fifth Nexstim NBT® system installed for depression treatment in California.
Mikko Karvinen, CEO of Nexstim, said: “We are happy to announce that The Neurological Institute of Los Angeles has decided to purchase the NBT® system after an evaluation period. SmartFocus® TMS continues to be subject of intensive research also outside its clinically validated indications which highlights its possible potential to treat a host of currently intractable brain diseases and disorders.”
Further information is available on the website www.nexstim.com, or by contacting:
Mikko Karvinen, CEO
+358 50 326 4101
About Nexstim Plc
Nexstim is a Finnish, globally operating medical technology company. Our mission is to enable personalized and effective therapies and diagnostics for challenging brain diseases and disorders.
Nexstim has developed a world-leading non-invasive brain stimulation technology called SmartFocus®. It is a navigated transcranial magnetic stimulation (nTMS) technology with highly sophisticated 3D navigation providing accurate and personalized targeting of the TMS to the specific area of the brain.
SmartFocus® technology is used in Nexstim’s proprietary 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.
In addition, Nexstim is commercializing its SmartFocus® based Navigated Brain Stimulation (NBS) system for diagnostic applications. 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 Growth Market Finland and Nasdaq First North Growth Market Sweden.