Brainsway gets FDA nod for device trial

The company plans to begin a multi-center trial of its deep Transcanial Magnetic Stimulation device soon.

Brainsway Ltd. (TASE:BRIN) has obtained US Food and Drug Administration (FDA) approval for its Investigational Device Exemptions (IDE) application for a clinical trial of its deep Transcanial Magnetic Stimulation device for the treatment of depression. The company plans to obtain institutional review board (IRB) approval from medical centers in the US, Europe, and Israel for the multi-center trial, which it expects to begin soon.

Brainsway has developed a method for treating neurological and cognitive disorders by magnetic stimulation of the brain, with differing disorders treated by focusing on specific sites in the brain. The share price rose 0.4% to NIS 5.20 by midday today.

Published by Globes [online], Israel business news - - on October 26, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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