Company announcement, Helsinki, 1 December 2017 at 9 AM – Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or "Company"), a medical technology company developing and marketing pioneering navigated non-invasive brain stimulation systems for both therapeutic and diagnostic applications, announces the appointment of Steve Beller as Vice President and General Manager, North America effective from 1 January 2018. Mr. Beller will join the Nexstim Management Team and report to CEO Martin Jamieson.
Steve Beller has extensive experience in the US neuro-stimulation market where he was most recently Area Vice-President at Abbott Neuromodulation, managing a team of over 170 people in the Western half of the US. Prior to this, Mr. Beller held Senior Director and Regional Sales Director roles at St Jude Medical Neuromodulation, before it was acquired by Abbott.
Steve Beller will lead commercialisation efforts for Nexstim’s NBT® system in the US across indications, starting with depression, following the recently announced FDA clearance for use of the NBT® system in the treatment of Major Depressive Disorder (MDD).
The NBT® system is currently in a supplementary Phase III E-FIT trial for its use in stroke rehabilitation, which is expected to complete in mid-2018, allowing Nexstim to file for FDA clearance, following which Mr. Beller would also lead commercialisation efforts for this indication.
The NBT® system is based on Nexstim’s unique navigated Transcranial Magnetic Stimulation (nTMS) which allows for accurate, reproducible brain stimulation in therapy.
Commenting on the appointment, Martin Jamieson, Chairman and CEO, Nexstim Plc stated: “I am very pleased to welcome Steve Beller to the team. His experience in managing and directing sales in the neuromodulation field in the US will be invaluable as we develop our commercialisation capacity for the NBT® system in the US ahead of its introduction to the market for the treatment of depression during H1 2018.”
Martin Jamieson, Chairman and CEO
About Nexstim Plc
Nexstim is a medical technology company developing and marketing pioneering navigated non-invasive brain stimulation systems for both therapeutic (NBT® system) and diagnostic (NBS system) applications. Nexstim's NBS system is the only FDA cleared and CE marked system based on navigated Transcranial Magnetic Stimulation (nTMS) for the pre-surgical mapping of the speech and motor cortices of the brain. Based on the same technology platform, the Company has developed the Navigated Brain Therapy (NBT®) which is CE marked in Europe for the treatment of stroke, major depression and chronic neuropathic pain.
Nexstim has received clearance from the FDA for marketing and commercial distribution of its NBT® system for the treatment of Major Depressive Disorder (MDD) and looks forward to introducing the NBT® system for this important indication during H1 2018.
The NBT® system is currently in a 60 patient, supplemental Phase III study, E-FIT trial, for its use in stroke rehabilitation. The trial is expected to complete in mid-2018, allowing Nexstim to file for FDA clearance. FDA clearance would allow Nexstim to start marketing and selling its NBT® system for stroke rehabilitation in the USA.
Nexstim shares are listed on the Nasdaq First North Finland and Nasdaq First North Sweden.