Company announcement, Helsinki, 1 April 2019 at 3.45 pm (EET)
Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or "Company"), the targeted neuromodulation company developing and marketing pioneering navigated personalised, non-invasive brain stimulation systems for diagnostics and therapy, updates the company announcement published on Friday 29 March 2019 at 9:30 am.
In the announcement, which concerned the medical device licence granted by Health Canada, the company indicated that marketing and sales of Nexstim’s NBS device would be handled by a distributor company. Nexstim amends that a distribution company will be distributing Nexstim’s NBT® devices. Marketing, sales and distribution of the company’s NBS system and Nexspeech® in Canada will be executed by Nexstim.
Health Canada granted Nexstim’s NBS System and NexSpeech® medical device licence that allows Nexstim to start marketing and selling the NBS system and NexSpeech® in Canada. The licence is a key step for the company as it continues to focus on building sales in the North American market.
Further information is available on the website www.nexstim.com or by contacting:
Martin Jamieson, Chairman and CEO
+44 771 516 3942
Sisu Partners Oy (Certified Adviser)
+ 358 40 842 4479
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.