In a presentation for the capital markets, Brainsway Ltd. (TASE:BRIN) released updated data about its commercial, clinical, and marketing operations today. The presentation boosted the company's share price by 5.4% today to NIS 34.77. To date, 101 Brainsway systems have been installed around the world (the company’s business model is based on renting systems), and the company has orders for 36 more. More than 50% of the systems that have been installed are in the US.
In 2015, the company intends to broaden its service to include new areas in Latin America, Japan, and Australia.
The company’s depression-treatment service, which has been approved by the US Food and Drug Administration (FDA), is covered by the insurance policies of 193 million people in the US, with 35 different insurance providers.
As of the end of September, the company had NIS 75 million in its coffers, 28 different clinical indications, 11 CE approvals, and one Federal Drug Administration (FDA) approval.
The company’s goals for the coming year are: implementing a new strategy to penetrate the US market, launching sales in Brazil; receiving regulatory approval in Brazil; gaining CE approval for additional clinical indications; continuing clinical trials; introducing a pay-per-use payment model; and continuing with commercial installations.
Brainsway is a medical device company focused on commercializing Deep TMS (Deep Transcranial Magnetic Stimulation) treatment. This technology is based on a patents filed by the National Institutes of Health (NIH). The technology enables non-invasive stimulation of deep brain tissue, for the treatment of a broad range of central-nervous-system disorders.
Published by Globes [online], Israel business news - www.globes-online.com - on November 5, 2014
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