Nexstim Plc to host a Conference Call / Webcast on Tuesday 25th September at 4pm EEST to Provide Strategic Update
Press release, Helsinki, 19th September 2018 at 4:00 PM EEST
Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or the "Company"), the targeted neuromodulation company developing and marketing navigated personalised, non-invasive brain stimulation systems for the treatment of Major Depressive Disorder (MDD), announces that the Company will present its new corporate strategy and meet with investors at Sijoittaja 2018 in Helsinki, tomorrow Thursday September 20th.
Mikko Karvinen, Chief Financial Officer, will present on the Company and its NBT® System for the treatment of MDD at 12:55 at Messukeskus Helsinki, Expo and Convention Centre.
Nexstim’s NBT® system was approved by the FDA in November 2017 for the treatment of MDD, a recurrent and frequent chronic disorder with significant unmet clinical need. Approximately 6 million patients in the US and Europe could potentially be treated with Nextim’s NBT® system which represents an estimated total treatment value of over EUR 40 billion.
The Nexstim system was successfully launched in the US at the Clinical TMS (transcranial magnetic stimulation) Society Annual Meeting, which was held in New York in May 2018. Nexstim is currently building its own direct sales force to ensure that it can maximise the potential of its highly differentiated, personalised, reimbursed NBT® system.
Nexstim’s NBT® system provides personalised non-invasive neuro-stimulation therapy as an alternative to sub-optimal pharmacologic treatments via its SmartFocus™ TMS technology. TMS is used to stimulate and increase the activity of an area of the brain called the left dorsolateral prefrontal cortex (DLPFC), where metabolic activity is reduced in depression.
Nexstim NBT® System is highly differentiated from other currently available TMS products. This is due to its unique and highly sophisticated 3D navigation that uses its proprietary E-field algorithm to visualize the exact location, orientation and magnitude of the stimulation to the DLPFC 100% of the time. Other TMS systems, which do not have sophisticated 3D navigation, are believed to accurately target the precise part of the DLPFC that needs to be stimulated in only 30% of patients.
Martin Jamieson, Chairman and CEO, Nexstim Plc commented: ”Nexstim’s strategy is now focused on building shareholder value by capitalising on the significant potential of our SmartFocusTM TMS for the treatment of MDD. Our technology promises improved outcomes for patients with depression at a time when neuro-stimulation is rapidly gaining traction as a mainstream treatment modality. The unique navigational capability of our NBT® system, personalised to each patient for targeted stimulation of the relevant brain area, clearly differentiates it from the non-navigational TMS devices currently on the market for this indication. We are investing in our US commercial organisation to ensure that we can maximise the potential of our unique system in the very large US MDD market.”
Martin Jamieson added: “As of 30 June 2018, Nexstim had a cash position of EUR 10.3 million and the current cash balance and cash generated from sales will finance the Company until the end of Q2 2019. The Company is actively evaluating the possibility for a new fund raising during H2 2018 to support our commercialisation of the NBT® system. I look forward to keeping you updated on the progress we are making in executing our new MDD focused strategy.”
Conference Call/ Webcast Details
The Company will host a conference call and an online presentation on Tuesday 25th September 2018 at 4:00 p.m. EEST (3:00 p.m. CEST / 9:00 a.m. EDT).
The dial-in numbers for the conference call are:
FI: +358 (0)9 7479 0361
SE: +46 (0)8 5664 2753
UK: +44 (0)330 336 9128
US: +1 929-477-0402
Confirmation Code: 8851156
The presentation will also be webcast and can be accessed from the following web address:
Hosts: Martin Jamieson, CEO, and Mikko Karvinen, CFO
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 .