Brainsway® Ltd., (TASE: BRIN), the creator of Deep TMS™ systems for the treatment of brain disorders, today annouced that it has appointed Guy Ezekial, M.D. (45) to serve as its new President and CEO beginning on June 15, 2015.
Dr. Ezekiel earned his M.D. from Ben Gurion University, his MBA from the University of Pittsburgh, and began his professional career as Marketing/Clinical Director of Ultraguide, an Israeli medical device startup. After closing a distribution agreement for Ultraguide with MEDRAD, a subsidiary of Bayer Healthcare, Dr. Ezekiel moved to the U.S. to serve as Executive Marketing Director for the CT segment of MEDRAD's medical device division. During his tenure, the division doubled its sales to ~$250 million per year.
In 2006, Dr. Ezekiel became President and CEO of Ventor Technologies, a venture-backed start up that was acquired within three years by Medtronic for $325 million, breaking previous records for return-on-investment. At the request of Medtronic, Dr. Ezekiel remained as VP Innovation. Since 2012, Dr. Ezekiel has been active in a number of pharma and medical device startups.
Commenting on the news, Dr. Guy Ezekiel said, "I am very pleased to join Brainsway, a company with a groundbreaking technology platform, over 60 clinical trials across the globe and marketing clearances in both Europe and the U.S. - in short, a company with extraordinary potential that is poised for a breakthrough. I am confident that we can develop Brainsway into a leading company in its field, thereby creating significant value for its patients, customers and shareholders. I am excited by the challenge and look forward to achieving the company's ambitious goals."
Brainsway develops and markets advanced medical systems for effective, non-invasive treatment of numerous common brain disorders, including depressive disorder, autism, Alzheimer's, bipolar disorder, Parkinson's, stroke rehabilitation and others. Brainsway's medical system uses an electromagnetic coil with a unique structure to create magnetic fields in specific regions of the brain at various depths by neural stimulation or suppression, depending upon the operating frequency (Deep TMS - Transcranial Magnetic Stimulation). Brainsway's technology is based on patents filed by the National Institute of Health (NIH) and by the company, and has been cleared by the FDA for treatment of depression in patients who do not respond to medication-based treatments. The company's Transcranial Magnetic Stimulation technology has been applied in thousands of cases worldwide in the framework of over 60 clinical trials held across the globe.
Brainsway's shares have been traded on the Tel Aviv Stock Exchange since 2007 under the symbol BRIN. It operates via wholly-owned subsidiaries in the areas of R&D and marketing.