Wednesday, September 19, 2018
 
 
Company News: Page (1) of 1 - 01/23/18 Email this story to a friend. email article Print this page (Article printing at MyDmn.com).print page facebook
Nexstim Plc receives R&D loan from Business Finland

(January 23, 2018)

Company announcement, Helsinki, 23 January 2018, at 10:00 a.m.

Nexstim Plc receives R&D loan from Business Finland

Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or "Company"), a medical technology company developing and marketing pioneering navigated non-invasive brain stimulation systems for both therapeutic and diagnostic applications, announces that Business Finland has granted the Company an R&D loan amounting to approximately EUR 1 million for the development of a next-generation user interface (GUI) for the Navigated Brain Therapy (NBT®) System indicated for the treatment of Major Depressive Disorder (MDD) and chronic neuropathic pain. To enable extensive therapeutic use of the NBT® System, the project is a major part of Nexstim's commercialisation process of its therapeutic products.

The loan is unsecured, and the interest rate is three percentage points below the base interest rate, or at least one percent. The loan period is seven years and the three first three years are amortisation-free. The loan will be repaid in annual instalments.



NEXSTIM PLC
Martin Jamieson, Chairman and CEO

Further information is available on the website www.nexstim.com or by telephone:

Nexstim                                                                     +447715163942
Martin Jamieson, Chairman and CEO                                                [email protected]
                                                                                                                                                      
UB Securities Oy (Certified Adviser)                  +358 (0)9 2538 0246

Citigate Dewe Rogerson                                      +44 (0)207 2822949
David Dible/Isabelle Andrews/Shabnam Bashir                   [email protected]

About Business Finland

Business Finland is an accelerator of global growth creating new growth by helping businesses go global and by supporting and funding innovations. Top experts and the latest research data enable companies to seize market opportunities and turn them into success stories.

Business Finland was created on 1st January 2018 by the merger of two organizations: Finpro, which offered services for internationalization, investments and tourism promotion, and Tekes, which offered funding for innovation activities. Business Finland aims to develop Finland into the most attractive and competitive innovation environment for companies to grow, change, and succeed.

Business Finland's strategy is twofold: to enable companies to grow internationally, and to create world-class business ecosystems and a competitive business environment for Finland.

Business Finland employs a total of 600 experts in 40 offices overseas, and in 18 regional offices throughout Finland. Business Finland is part of the Team Finland network.

About Nexstim Plc
Nexstim is a medical technology company developing and marketing pioneering navigated non-invasive brain stimulation systems for both therapeutic (NBT® system) and diagnostic (NBS system) applications. Nexstim's NBS system is the only FDA cleared and CE marked system based on navigated Transcranial Magnetic Stimulation (nTMS) for the pre-surgical mapping of the speech and motor cortices of the brain. Based on the same technology platform, the Company has developed the Navigated Brain Therapy (NBT®) which is CE marked in Europe for the treatment of stroke, major depression and chronic neuropathic pain.

Nexstim has received clearance from the FDA for marketing and commercial distribution of its NBT® system for the treatment of Major Depressive Disorder (MDD) and looks forward to introducing the NBT® system for this important indication during H1 2018.

The NBT® system is currently in a 60 patient, supplemental Phase III study, E-FIT trial, for its use in stroke rehabilitation. The trial is expected to complete in Q2 2018, allowing Nexstim to file for FDA clearance. FDA clearance would allow Nexstim to start marketing and selling its NBT® system for stroke rehabilitation in the USA.

Nexstim shares are listed on the Nasdaq First North Finland and Nasdaq First North Sweden. For more information please visit www.nexstim.com

Attachments:

http://www.globenewswire.com/NewsRoom/AttachmentNg/6e2935e8-f027-462e-b230-220335b3eedd


Page: 1


Related Keywords:
Related Sites: DMN Newswire ,   HTN - Health Technology Net
Related Newsletter: Tutorial Finder ,   Review Seeker ,   DMN Newswire Newsletter
 
 
 
 
 
 
 
Seniors

Drugs
  • ChenMed to Invest More Than $200 Million to Bring Affordable Concierge-Style Health Care to Philadelphia Seniors
  • Consuelo M. Alvarez, M.D., MBA, is recognized by Continental Who's Who
  • IV Infusion Pump Accessories Market is poised to register a CAGR of 4.5% by 2025 – Persistence Market Research
  • Effie Chow Qigong Healing System Available On Mediterranean Celebrity Cruise Line Says Sharon Kleyne & Rose Hong
  • The Methuselah Foundation Successfully Closes its Boutique Venture Fund, the Methuselah Fund, Focused on Companies That Can Extend the Healthy Human Lifespan

    Cancer
  • Sequana Medical reports positive data on use of the alfapump® in malignant ascites patients at the International Gynecologic Cancer Society
  • BioPlus Specialty Pharmacy Announces New President: Mark Montgomery
  • Astellas Promotes Geoff Towle to Vice President of Oncology Marketing at Astellas US
  • Chardan Advises NovellusDX in Cross-Border Biotech Merger
  • Eroll Grow Tech (Seedo) Merges Its Activities With GRCR Partners; Cannabics Pharmaceuticals to Own 13.6% in the Merged Company
  •  
     
     
     
     
     





    Our Privacy Policy --- About The Health Technology - Contact Us - Advertise With Us - Privacy Guidelines