The principal investigator of the trial, Prof. Pinhas Danon, commented, "High-frequency TMS treatment was shown to be effective both by self-report of consumption levels and by measurement of urinary cotinine. Further, these results indicate that high-frequency Deep TMS therapy using a specialized addiction coil is safe and effective for inducing smoking cessation, especially when administered in conjunction with exposure to cigarette cues."
Prof. Abraham Zangen, one of the key inventors of the Company's Deep TMS technology and the director of this trial, commented, "This study provides further evidence for the involvement of the insular and prefrontal cortices in addiction and shows the potential of repeated stimulation of these areas for smoking cessation. A large multi-center study is recommended in order to establish this novel treatment and bring it to the public."
Ronen Segal, CTO of Brainsway, commented, "Following the U.S. FDA's recent clearance of the Company's Deep TMS device for the treatment of depression, these results further demonstrate the potential of our groundbreaking technology to become a 'game changer' in the non-invasive treatment of not just one, but multiple brain-related conditions, presenting Brainsway with a number of large new market opportunities."
About Brainsway Inc.
Brainsway develops a medical device for the noninvasive treatment of common brain disorders. The device is based on a uniquely shaped electromagnetic coil connected to a rapidly changing current supply, which produces magnetic fields capable of affecting different areas of the brain. Deep brain areas can be either excited or inhibited, depending on the frequency of the magnetic field. In January 2013, Brainsway's Deep TMS device was cleared by the U.S. Food and Drug Administration and by Health Canada for the treatment of depression in patients who have failed to respond to antidepressant medications in their current episode of depression.
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 Kilmer
Kilmer Lucas Inc.