Nexalin Technology Announces Regulatory Approval in Oman for Gen-2 Neurostimulation Device
Company’s International Reach Expanding with Latest Regulatory Approval
HOUSTON, TEXAS, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Nexalin Technology, Inc. (the “Company” or “Nexalin”) (Nasdaq: NXL; NXLIW) today announced that its second generation (Gen-2), 15 milliamp (mA) neurostimulation device, has been granted regulatory approval by the Sultanate of Oman’s Ministry of Health.
Mark White, CEO of Nexalin Technology, stated, "We are pleased to announce the approval to sell our Gen-2 neurostimulation device in Oman, which represents our first regulatory approval outside of China. Not only is Oman an important gateway to the Middle East, but we intend to seek, and expect to be granted, additional approvals in other markets around the world. We look forward to finalizing our first commercial distribution agreement in Oman within the coming weeks and commencing commercial sales soon thereafter. We are laser-focused on opening new international markets and securing commercial distribution partners to rapidly and cost-effectively scale the business. Given the growing body of clinical data published in China supporting the benefits of our non-invasive, drug-free device, I am more confident than ever that our technology will play an important role in helping to combat the global mental health epidemic.”
About Nexalin Technology, Inc.
Nexalin designs and develops innovative and unique neurostimulation products to combat the ongoing global mental health epidemic. Nexilin’s non-invasive products are undetectable to the human body and are developed to provide relief to those afflicted with mental health issues. Nexalin utilizes bioelectronic medical technology to treat mental health issues. Nexalin believes its neurostimulation medical devices can penetrate structures deep in the mid-brain that are associated with mental health disorders. Nexalin believes the deeper-penetrating waveform in its next-generation devices will generate enhanced patient response without any adverse side effects. The Nexalin Gen-2 15 milliamp (mA) neurostimulation device was recently approved in China by the National Medical Products Administration (NMPA) for the treatment of insomnia and depression. Additional information about the Company is available at: .
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute "forward-looking statements," These statements relate to future events or Nexalin’s future financial performance. Any statements that refer to expectations, projections or other characterizations of future events or circumstances or that are not statements of historical fact (including without limitation statements to the effect that Nexalin or its management “believes”, “expects”, “anticipates”, “plans”, “intends” and similar expressions) should be considered forward looking statements that involve risks and uncertainties which could cause actual events or Nexalin’s actual results to differ materially from those indicated by the forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's Report on Form 10-K for the year ended December 31, 2022 and other filings as filed with the Securities and Exchange Commission. Copies of such filings are available on the SEC's website, . Such forward-looking statements are made as of the date hereof and may become outdated over time. Such forward-looking statements are made as of the date hereof and may become outdated over time. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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