Press release, Helsinki, 18 October 2024 at 9 AM (EEST)
Nexstim Plc (NXTMH:HEX) ("Nexstim" or "Company") has received an import license from the Central Drugs Standard Control Organization of the Government of India. The license covers Nexstim’s NBS System 5 including both diagnostics and therapeutic capabilities.
Nexstim’s NBS (Navigated Brain Stimulation) System 5 is intended to be used in pre-surgical mapping of the speech and motor cortices of the brain. A separate module, NexSpeech®, is needed for speech mapping purposes. Nexstim also offers a possibility to add a therapy module to the system, allowing it to be used for the treatment of major depression and chronic neuropathic pain.
All Nexstim products are based on the Company’s state-of-the-art nTMS (navigated transcranial magnetic stimulation) technology. Compared to other TMS solutions, Nexstim has a strong advantage when it comes to the accurate and precise delivery of stimulation.
Mikko Karvinen, CEO of Nexstim, comments: “We have seen increased interest for our products by potential customers in the Indian market and found it important to take action to enable import of Nexstim systems to this growth market. At Nexstim, we are constantly screening the markets and looking into ways to effectively expand the global reach of our products.”
Further information is available on the website www.nexstim.com, or by contacting:
Mikko Karvinen, CEO
+358 50 326 4101
mikko.karvinen@nexstim.com
About Nexstim Plc
Nexstim is a Finnish, globally operating growth-oriented medical technology company. Our mission is to enable personalized and effective diagnostics and therapies for challenging brain diseases and disorders.
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’s Diagnostics Business focuses on commercialization of the Navigated Brain Stimulation (NBS) system. The NBS System 5 is the only FDA cleared and CE marked navigated TMS system for presurgical mapping of the speech and motor cortices of the brain.
Nexstim’s Therapy Business markets and sells the NBS System 6 which is FDA cleared for marketing and commercial distribution for the treatment of major depressive disorder (MDD) in the United States. In Europe, the NBS 6 system is CE marked for the treatment of major depression and chronic neuropathic pain.
Nexstim shares are listed on Nasdaq First North Growth Market Finland.
For more information, please visit www.nexstim.com