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Brainsway (BRSYF.PK) Receives CE Mark Approval for Its Deep TMS System to Treat Neuropathic Chronic Pain



7/3/2012 7:28:09 AM

JERUSALEM, July 2, 2012 (GLOBE NEWSWIRE) -- Brainsway Ltd. (BRIN.TA) is pleased to announce that it has received CE Mark enabling commercialization of its Deep TMS system to treat neuropathic chronic pain ("neuropathic pain") in the European Union and the countries in Asia and Latin America that recognize the CE Mark.

"Neuropathic pain is the sixth indication for which Deep TMS has achieved CE Mark approval," commented Uzi Sofer, Brainsway's CEO. "Previous CE Marks were for clinical depression, bi-polar disorder, schizophrenia (negative symptoms), Parkinson's diseases and post-traumatic stress disorder. As our therapeutic pipeline continues to expand, it is very exciting to continue to bring proven new Deep TMS treatments to market."

About Brainsway Ltd.

Brainsway is dedicated to the development and marketing of Deep TMS (Transcranial Magnetic Stimluation) systems - novel, noninvasive medical devices for treatment of a wide range of neurological and psychopathological disorders. In principle, any brain-related disorder that is associated with pathological activity of specific brain sites may be treated by this method. Potential applications include addiction, schizophrenia, obesity, eating disorders, Parkinson's disease, Alzheimer's disease, autism and post-traumatic stress disorder. Our initial focus is the treatment of major depression. The unique technology of Brainsway is based on patents filed by the U.S. National Institute of Health (NIH) and by the company. Brainsway has an exclusive license from the NIH for the patent and technology. Headquartered in Jerusalem, Israel, the company's ordinary shares and warrants trade on the Tel Aviv Stock Exchange under the symbol 'BRIN'.

Forward-Looking Statements

This press release contains forward-looking statements, which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein. Investors should consult the Company's ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements.

Contact:

Stephen KilmerPresidentKilmer Lucas Inc.(212) 618-6347stephen@kilmerlucas.com


Read at BioSpace.com


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