Brainsway leases system to Harvard center

Brainsway has leased a Deep TMS system to Harvard University's McLean Hospital.

Brainsway Ltd. (TASE:BRIN) has leased a Deep TMS (transcranial magnetic stimulation) system to Harvard University's McLean Hospital, one of the leading psychiatric hospitals in the world. In line with Brainsway's business model, payment will be based on the number of patients treated, with an annual minimum payment, except for the first year.

"We are very pleased to add McLean Hospital at the Harvard Medical School to the scores of clinics that use Brainsway's Deep TMS technology," said Brainsway CTO Ronen Segal. "This agreement is a critical support and vote of confidence in the treatment capabilities of company's products by one of the world's leading psychiatric hospitals."

In a separate notice to the TASE today, Brainsway announced positive results in a final study of Deep TMS for the treatment of schizophrenia. All the patients who completed the study reported no significant side effects and showed clear improvement in the negative effects of the disease, compared with the control group.

"I am very pleased that our marketing efforts are achieving results at leading centers in the US and other countries. We are also very pleased by the progress in clinical studies for various indications," said Brainsway CEO Uzi Soffer. "Brainsway has won global recognition, as reflected by numerous recent events, including the start of two multicenter clinical trials in the US with scores of top international researchers."

Published by Globes [online], Israel business news - - on February 26, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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