Acquires Multi-Channel TMS Patent Portfolio from TMS Innovations. Enters into an Exclusive Option Agreement with Stanford University to License Additional Multi-Channel TMS Patents. BrainsWay is Currently Developing a Next-Generation Multi-Channel TMS Stimulator.
JERUSALEM, March 4, 2019 – BrainsWay Ltd. (TASE: BRIN), a global leader in the advanced non-invasive treatment of brain disorders, today announced that it has acquired an extensive multi-channel transcranial magnetic stimulation (TMS) patent portfolio from TMS Innovations (formerly Rio Grande Neurosciences, Inc.), and has additionally entered into an exclusive option agreement with Stanford University which grants BrainsWay the option to exclusively in-license additional multi-channel TMS related patents.
BrainsWay’s Deep TMS system has been FDA cleared for the treatment of major depressive disorder since 2013, and recently received FDA clearance (De Novo) for the treatment of Obsessive Compulsive Disorder (OCD). BrainsWay is currently developing a next-generation multi-channel TMS stimulator that has the potential to enable modulation for different areas of the brain with independent stimulation parameters, either simultaneously or sequentially, with high-resolution control for pulse timing. This novel technology, combined with the Company’s proprietary Deep TMS coils, could lead to more effective and flexible treatment options for multiple brain disorders, in addition to greater focal stimulation of deeper brain regions.
“The acquired intellectual property in the field of multi-channel TMS diversifies and reinforces BrainsWay’s unique patent portfolio. Through the use of a dynamic multi-channel TMS approach, our goal is to develop a new, cutting-edge TMS therapy that allows greater flexibility to treat multiple psychiatric and neurological indications,” said Yaacov Michlin, President and Chief Executive Officer of BrainsWay. “These transactions are designed to further supplement the strong IP position already held by BrainsWay in the field of multichannel-stimulation.”
BrainsWay is engaged in the research, development and sales and marketing of a medical system for noninvasive
treatment of common brain disorders. The medical system developed and manufactured by the company is based on a unique breakthrough technology called Deep TMS, which can reach significant depth and breadth of the brain and produce broad stimulation and functional modulation of targeted brain areas. In the U.S., the Company’s device has been FDA cleared for the treatment of major depressive disorder (MDD), and is now FDA cleared for the treatment of Obsessive Compulsive Disorder (OCD). The Company’s systems have also received CE clearance for multiple indications and are sold worldwide for the treatment of various brain disorders.