Brainsway magnetic anti-depressant passes test

CEO Uzi Sofer: We can file for CE Mark certification on the basis of these results.

18 February 08 10:20, Gali Weinreb

Brainsway Ltd. (TASE:BRIN) has reported positive results in the final testing stage of testing of its non-invasive Transcranial Magnetic Stimulation treatment for depression. The company said yesterday that it had completed its first efficacy test on a group of 64 patients with satisfactory results.

Brainsway CEO Uzi Sofer said that the results would now pave the way for an application for CE Mark certification from the EU. "We filed an application with the US Food and Drug Administration (FDA) for a multicenter trial of the product when the interim results were released a month ago. We expect a decision in the near future, and we have already contracted with a number of large medical centers, including Columbia, Harvard, and John Hopkins, to carry out trials together with them," he added.

Brainsway has developed a method for treating neurological and cognitive disorders by magnetic stimulation of the brain, with differing disorders treated by focusing on specific sites in the brain. The 64 patients tested in the latest trial had failed to respond to at least two antidepressant drugs. 95% of the participants responded to the Brainsway method and 45% showed a significant response. 40% of the patients in the trial were found to have regressed after treatment and a regression was seen in 50% of the patients after three months.

Published by Globes [online], Israel business news - www.globes.co.il - on February 18, 2008

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