Brainsway Ltd. (TASE:BRIN) today reported successful preliminary results in two trials of its non-invasive Deep TMS (transcranial magnetic stimulation) device for the treatment of neurological disorders and addictions.
In one trial, Deep TMS temporarily opened the blood-brain barrier in seven of nine patients with malignant brain tumors, for a success rate of 78%. The trial is being conducted in Italy by Advanced Technologies Innovation Distribution srl in collaboration with Ben Gurion University of the Negev and the University of Rome.
Chief researcher Dr. Alon Friedman said that the interim results showed that Deep TMS was an effective and safe non-invasive method for opening the blood-brain barrier. The interim results must be verified by a multi-center trial, and if those results are also positive, Brainsway will consider testing the efficacy and safety of Deep TMS on other tumors.
In the second trial, preliminary results found that Deep TMS was found effective and safe in treating alcohol addiction. The interim results are based on 13 of the 30 patients participating in the trial in Italy. The chief researcher is Prof. Mauro Ceccanti of the University of Sapienza in Rome. Advanced Technologies Innovation Distribution is also conducting this trial.
The patients treated by Deep TMS showed a clear and significant reduction in the use of alcohol after the treatment, compared with the control group. Cortizone levels in the patients' saliva also fell significantly, compared with a rise in the control group. A change in the cortizone level is a biological measure of desire for alcohol among alcoholics.
Brainsway also reported that its second quarter revenue rose seven fold to NIS 223,000 for the second quarter from NIS 29,000 for the corresponding quarter of 2010. The company posted a net loss of NIS 9.7 million (NIS 0.82 per share) for the second quarter compared with a net profit of NIS 18 million for the corresponding quarter.
Brainsway's share price rose 7.6% by mid-afternoon to NIS 21, giving a market cap of NIS 245 million.
Published by Globes [online], Israel business news - www.globes-online.com - on August 31, 2011
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