Company announcement, Inside information, Helsinki, 27 November 2020 at 14.00 (EET)
Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or "Company") provides an update on the pilot study on the use of accelerated iTBS protocol in treatment of severe depression with Nexstim NBT® System at Kuopio University Hospital.
Nexstim announced on 22 September 2020 that the pilot study is starting and estimated that the patient treatments in the study of ten patients would be completed by the end of 2020, and the results would be made public once available.
Nexstim now reports that treatment of study patients has started as planned and several patients have completed the treatment. However, Nexstim currently estimates that the treatment of some patients will continue during Q1 2021. The Company continuously assesses the development of the pandemic, and if the situation would get noticeably worse, that might have an impact on patient recruitments and treatments. As previously announced, the results will be made available once available.
Nexstim is pleased with the progress of the pilot study in the present extraordinary circumstances effected by the COVID-19 pandemic.
Further information is available on the website www.nexstim.com, or by contacting:
Mikko Karvinen, CEO
+358 50 326 4101
mikko.karvinen@nexstim.com
Erik Penser Bank AB (Certified Adviser)
+46 8 463 83 00
certifiedadviser@penser.se
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.