Nexstim Plc pre-close business update
(Thomson Reuters ONE) -
Press release, Helsinki, 22 December 2016, at 12pm
Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or "Company"), a medical
technology company with a pioneering navigated non-invasive brain stimulation
system, today announces a business update for the year ending 31 December 2016.
Navigated Brain Stimulation
Customer adoption of Navigated Brain Stimulation (NBS) systems for brain mapping
is increasing and current users continue to adopt and incorporate the technology
into their clinical practice. New customers at various prestigious institutions,
world-wide purchasing the technology include: The University of Iowa; Dell
Children's Hospital in Austin, Texas; Vivantes Klinikum Neukölln in Germany;
Queen Elizabeth Hospital Birmingham in UK, and; Aarhus University Hospital in
Denmark.
The NBS technology was highlighted in multiple clinical presentations at various
scientific congresses including: Society for Neuro-Oncology Annual Meeting;
8(th) International Symposium on Navigated Brain Stimulation in Neurosurgery and
Neuromodulation; Congress of Neurological Surgeons Annual Meeting; Deutsche
Gesellschaft für Neurochirurgie; 20(th) Scandinavian Course in Neurosurgery;
European Association of Neurosurgical Societies Congress; 10(th) Meeting of the
European Low Grade Glioma Network; American Epilepsy Society Meeting, and;
American Association of Neurological Surgeons Annual Meeting.
In line with the Company's strategic direction, progress is being made to
partner with independent distributors in the U.S. to advance commercial efforts
for Nexstim's NBS for brain mapping.
Navigated Brain Therapy
As separately announced yesterday, Nexstim received a positive response and
comments from the US Food and Drug Administration on its limited size trial
protocol for the proposed Post-Stroke Motor Recovery Trial. The positive
response paves the way for a new 60 patient trial with Nexstim's Navigated Brain
Therapy (NBT®) in 2017 and Nexstim expects to receive de novo 510(k) clearance
in Q4 2018.
In Europe, commercial steps are being conducted around NBT®, working with early
adopter clinicians.
Financing
The financing arrangement in the form of a joint deal with Bracknor and Sitra
continues on track. Since the beginning of the arrangement announced on 18
August 2016, Nexstim has issued new shares worth EUR 7.7 million in total. The
current cash and cash generated from sales, the financing arrangements with
Bracknor and Sitra, combined with the strategic changes in the organisation, is
estimated to finance the Company until early 2018.
The full year 2016 financial results will be published on Tuesday, February
28, 2017.
Commenting on the business update, Martin Jamieson, CEO of Nexstim, said: "2016
has been a very important year for the Company with significant clinical and
financial developments. We continue to make good progress in many key areas and
look forward to moving these forward in 2017."
NEXSTIM PLC
Martin Jamieson, CEO
Further information is available on the website www.nexstim.com or by telephone:
Nexstim +447715163942
Martin Jamieson, CEO
martin.jamieson(at)nexstim.com
UB Securities Oy (Certified Adviser)
+358 (0)9 2538 0246
Consilium Strategic Communications +44
(0)20 3709 5700
Mary-Jane Elliott / Ivar Milligan / Laura Thornton
nexstim(at)consilium-comms.com
About Nexstim Plc
Nexstim is a medical technology company which has pioneered its technology in
brain diagnostics with the Navigated Brain Stimulation (NBS) system. It is the
first and only FDA cleared and CE marked system based on navigated Transcranial
Magnetic Stimulation (nTMS) for pre-surgical mapping of the speech and motor
cortices of the brain. Based on the same technology platform, the Company has
developed a system called Navigated Brain Therapy (NBT®) which is CE marked for
the treatment of chronic neuropathic pain, major depression and stroke. Nexstim
shares are listed on the Nasdaq First North Finland and Nasdaq First North
Sweden. For more information please visit www.nexstim.com
Nexstim Plc:
http://hugin.info/138152/R/2067356/776252.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nexstim Oyj via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 22.12.2016 - 11:00 Uhr
Sprache: Deutsch
News-ID 514474
Anzahl Zeichen: 5232
contact information:
Town:
Helsinki
Kategorie:
Business News
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"Nexstim Plc pre-close business update"
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