Nexstim Plc Receives CE Mark Registration for NBT® for Treatment of Chronic Neuropathic Pain
Commercialisation plans commence
Nexstim Plc (NXTMH:HEX, NXTMS:STO), a medical technology company with a pioneering navigated non-invasive brain stimulation system, announces it has CE marked and released for sales its Navigated Brain Therapy (NBT®) system for the relief of chronic neuropathic pain, a new and potentially major indication for Nexstim’s technology.
Neuropathic pain is a significant public health problem affecting 6-7% of the general population[1] and chronic neuropathic pain is estimated to affect more than six million people across the seven major pharmaceutical markets (USA, Japan, France, Germany, Italy, Spain and the United Kingdom). Current therapies have limited efficacy with only 30-40% of patients declaring that they receive satisfactory (>50%) relief from their pharmacological treatment[2]. A significant minority of patients fail to gain satisfactory relief with current therapies and are seeking additional options.
Nexstim’s NBT® system is based on its clinically validated navigation software which enables it to target the stimulating e-field using a patient’s own MRI scans to give the accuracy and repeatability needed for therapeutic indications. The NBT® platform is differentiated from other approaches in the large and growing neuropathic pain market which is expected to reach $3.6 billion in 2020[3].
Nexstim considers the application of its NBT® system for the treatment of chronic neuropathic pain to be one of the many potential new indications that Nexstim’s leading technology and software can be applied to. Nexstim estimates that the new CE mark authorisation will not have a significant financial impact on the company during financial year 2016 and a strategy for potential commercialisation is under review.
Commenting on the CE mark registration, Martin Jamieson, Chairman and CEO of Nexstim, said:“Chronic neuropathic pain is a debilitating condition worldwide with few effective therapeutic options. With our NBT® technology we have the potential to make a significant difference and we look forward to further expanding applications for Nexstim’s leading technology and software into pain, and to potentially commencing commercialisation in due course.”
NEXSTIM PLC
Martin Jamieson, Chairman and CEO
For further information please visit www.nexstim.com or contact:
Nexstim
Martin Jamieson, Chairman and CEO
+44 771 516 3942
martin.jamieson@nexstim.com
UB Securities Ltd (Certified Adviser)
+358 (0)9 2538 0246
Consilium Strategic Communications
Mary-Jane Elliott / Ivar Milligan / Laura Thornton
+44 (0)20 3709 5700
nexstim@consilium-comms.com
About Nexstim Plc
Nexstim is a medical technology company which has pioneered its technology in brain diagnostics with the Navigated Brain Stimulation (NBS) system as the first and only FDA-cleared and CE-marked navigated Transcranial Magnetic Stimulation (nTMS) system for pre-surgical mapping of the motor and speech cortices. Based on the same technology platform, the company has developed a system called Navigated Brain Therapy (NBT®) which is CE-marked for chronic neuropathic pain, major depression and stroke therapy. Nexstim’s shares are listed on Nasdaq First North Finland and Nasdaq First North Sweden. For more information please visitwww.nexstim.com
[1] Torrance et al., 2006; Bouhassira et al., 2008
[2] Attal et al., 2006
[3] Nightingale, S. 2012: The neuropathic pain market. Nature Reviews Drug Discovery 11, 101-102
Source: Nexstim
