BrainsWay Announces First Shipments of Deep Transcranial Magnetic Stimulation Helmets for the Treatment of Obsessive-Compulsive Disorder

Twenty sites across the U.S. are the first to receive the BrainsWay Deep transcranial magnetic stimulation system (Deep TMS) for obsessive-compulsive disorder (OCD)

HACKENSACK, N.J., Oct. 08, 2018 (GLOBE NEWSWIRE) -- BrainsWay Ltd. (TASE: BRIN), the parent company of BrainsWay USA, Inc., and a global leader in the advanced non-invasive treatment of brain disorders, today announced completion of the first shipment of its Deep TMS system for the treatment of OCD in adults.

“This first helmet shipment represents a major milestone in the launch of our Deep TMS system for U.S. patients who are suffering from OCD. These twenty locations will now supply a new non-invasive effective and safe treatment option that could provide a better quality of life for patients suffering from OCD,” said Yaacov Michlin, president and chief executive officer of BrainsWay. “Our OCD indication for TMS brings a new era of treatment for this population and we are looking forward to shipping more helmets out to additional locations across the nation.” 

The twenty sites across the U.S. that received the new helmets include:

• Achieve TMS Anchorage – Anchorage, AK
• Achieve TMS Beaverton – Portland, OR
• Achieve TMS East – Northampton, MA
• Achieve TMS Hillcrest – San Diego, CA
• Achieve TMS La Jolla – San Diego, CA
• Brooklyn Minds – Brooklyn, NY
• Delray Center for Healing – Delray Beach, FL
• Greenbrook TMS NeuroHealth Center, Cary – Raleigh, NC
• Greenbrook TMS NeuroHealth Center, Creve Coeur – St. Louis, MO
• Greenbrook TMS NeuroHealth Center, Glen Allen – Glen Allen, VA
• Greenbrook TMS NeuroHealth Center, Owings Mills – Pikesville, MD
• Greenbrook TMS NeuroHealth Center, Rockville – Rockville, MD
• Greenbrook TMS NeuroHealth Center, Tysons Corner – McClean, VA
• Houston Deep TMS Therapy – Bellaire, TX
• Institute for Advanced Psychiatry – Fort Worth, TX
• New England TMS – Newburyport, MA
• Silicon Valley TMS – San Jose, CA
• TMS Associates of Pennsylvania – Haverford, PA
• TMS Center of Colorado – Denver, CO
• TMS Health Solutions – San Francisco, CA

BrainsWay’s Deep TMS system is a best-in-class device designed to maximize electromagnetic stimulation of deep and broad brain regions. BrainsWay’s Deep TMS technology differs from that of other focal TMS devices in that it has broad applicability and can directly stimulate areas of the brain at a greater depth and breadth than any other TMS device on the market safely and efficiently. BrainsWay’s TMS system now directly targets previously unreachable areas of the brain with its proprietary coils, allowing it to effectively treat OCD as well.

About OCD

More than 2 million adults in the United States suffer from obsessive-compulsive disorder (OCD). It is a severe, chronic psychiatric disease characterized by a pattern of obsessive thoughts and compulsive repetitive behaviors, which has a significantly destructive effect on patients’ day-to-day activities. Current treatment options include SSRI antidepressant medications, which must be given at very high doses for OCD patients, cognitive-behavioral treatment (CBT), or a combination of these treatment options. OCD is very difficult to treat since many patients do not respond to pharmacologic or CBT treatment, and many have difficulty tolerating the side effects of the pharmacological treatment.

About BrainsWay

BrainsWay is engaged in the research, development and sales and marketing of a medical system for non-invasive treatment of common brain disorders. The medical system developed and manufactured by the company is based on a unique breakthrough technology called Deep TMS, which can reach significant depth and breadth of the brain and produce broad stimulation and functional modulation of targeted brain areas. In the U.S., the Company’s device has been FDA cleared for the treatment of major depressive disorder (MDD) since 2013, and is now FDA cleared (De-Novo) for the treatment of Obsessive Compulsive Disorder (OCD). The Company's systems have also received CE clearance and are sold worldwide for the treatment of various brain disorders.

Forward-Looking Statement

This press release contains forward-looking statements about the Company’s expectations, beliefs and intentions. These forward-looking statements and their implications are based on the current expectations of the management of the Company only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In addition, historical results or conclusions from scientific research and clinical studies do not guarantee that future results would suggest similar conclusions or that historical results referred to herein would be interpreted similarly in light of additional research or otherwise. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; we may encounter delays or obstacles in launching and/or successfully completing our device studies; our products may not be approved by regulatory agencies: we may be unable to retain or attract key employees whose knowledge is essential to the development of our products; unforeseen scientific difficulties may develop with our process; our products may wind up being more expensive than we anticipate; our patents may not be sufficient; our products may harm recipients; changes in legislation; inability to timely develop and introduce new technologies, products and applications, which could cause the actual results or performance of the Company to differ materially from those contemplated in such forward-looking statements.

Any forward-looking statement in this press release speaks only as of the date of this press release. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. More detailed information about the risks and uncertainties affecting the Company is contained under the heading “Risk Factors” in BrainsWay Ltd.'s periodic filings with the Tel-Aviv Stock Exchange.

Contacts: 

BrainsWay Ltd.

Hadar Levy

Chief Financial Officer

 

Investors:

Bob Yedid

LifeSci Advisors

646-597-6989

Media:

Sara Zelkovic

LifeSci Public Relations

646-876-4933