Brainsway jumps on US trial announcement

The company and the Veterans Administration Medical Center will conduct clinical trial of Deep TMS on adult patients with attention deficit disorder.

Brainsway Ltd. (TASE:BRIN) has signed an agreement with the Veterans Administration Medical Center of Los Angeles to conduct a safety and effectiveness clinical trial of the company's Deep TMS (transcranial magnetic stimulation) device on 20 adult patients with attention deficit disorder (ADD). Brainsway and the Veteran Administration will jointly finance the trial, of which Brainsway will put up $20,000.

In its notice to the Tel Aviv Stock Exchange (TASE), Brainsway stated, "This trial is part of the company's strategy to conduct human clinical trials to test the effectiveness of the device for the treatment of a range of illnesses, in addition to depression and including Alzheimer's, and Parkinson's, and the treatment cannabis and cocaine addiction."

Brainsway is already conducting a number of clinical trials to test the effectiveness of Deep TMS. In April, it announced a trial with the US National Institute of Drug Abuse for treatment of cocaine addiction. The company is also testing the device as a cure for obesity.

Brainsway's share rose 7.8% to NIS 12.20 today.

Published by Globes [online], Israel business news - www.globes-online.com - on August 2, 2009

© Copyright of Globes Publisher Itonut (1983) Ltd. 2009

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