BrainsWay Expands Intellectual Property Position by Obtaining Rights to Multi-Channel Transcranial Magnetic Stimulation Patent Portfolio

Acquires Multi-Channel TMS Patent Portfolio from TMS Innovations

Enters into an Exclusive Option Agreement with Stanford University to License Additional Multi-Channel TMS Patents

BrainsWay is Currently Developing a Next-Generation Multi-Channel TMS Stimulator

JERUSALEM, March 05, 2019 (GLOBE NEWSWIRE) -- BrainsWay Ltd. (TASE: BRIN), a global leader in the advanced non-invasive treatment of brain disorders, today announced that it has acquired an extensive multi-channel transcranial magnetic stimulation (TMS) patent portfolio from TMS Innovations (formerly Rio Grande Neurosciences, Inc.), and has additionally entered into an exclusive option agreement with Stanford University which grants BrainsWay the option to exclusively in-license additional multi-channel TMS-related patents.

BrainsWay’s Deep TMS system has been FDA cleared for the treatment of major depressive disorder since 2013, and recently received FDA clearance (De Novo) for the treatment of Obsessive Compulsive Disorder (OCD).  BrainsWay is currently developing a next-generation multi-channel TMS stimulator that has the potential to enable modulation for different areas of the brain with independent stimulation parameters, either simultaneously or sequentially, with high-resolution control for pulse timing. This novel technology, combined with the Company’s proprietary Deep TMS coils, could lead to more effective and flexible treatment options for multiple brain disorders, in addition to greater focal stimulation of deeper brain regions.

“The acquired intellectual property in the field of multi-channel TMS diversifies and reinforces BrainsWay’s unique patent portfolio.  Through the use of a dynamic multi-channel TMS approach, our goal is to develop a new, cutting-edge TMS therapy that allows greater flexibility to treat multiple psychiatric and neurological indications,” said Yaacov Michlin, President and Chief Executive Officer of BrainsWay. “These transactions are designed to further supplement the strong IP position already held by BrainsWay in the field of multichannel-stimulation.”

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), and is now FDA cleared for the treatment of Obsessive Compulsive Disorder (OCD). The Company's systems have also received CE clearance for multiple indications 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