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Nexstim Plc Announces Changes to its Board of Directors

Board Change

Helsinki, 25th March 2015 at 8:00 am

Nexstim Plc (NXTMH:HEX, NXTMS:STO), a medical technology company aiming to improve rehabilitation for stroke patients through the use of non-invasive brain stimulation, announces that Tim Irish has been required to step down as Chairman due to a conflict with the current process relating to his prospective role as a Non-Executive Director of the United Kingdom’s National Institute of Health and Care Excellence (NICE). Until the next General Meeting, Vice Chairman, Olli Riikkala, will act as chair of the Board of Directors.

Commenting on the announcement, Tim Irish, said: “Nexstim has extremely exciting brain stimulation technology that could have major importance, particularly in the treatment of stroke. The Company recently completed its successful IPO and, with its strong management team, I have no doubt that it is en route to commercial success with an important Phase III trial running. I have greatly enjoyed working with the team in Finland and feel I leave the Company in a strong position for both the patients and shareholders.”

Nexstim’s Vice Chairman, Olli Riikkala, added: “Tim has made a valuable contribution to Nexstim in guiding the company to this stage in its development. We thank him for his input over the past three years and wish him well for the future.”

Janne Huhtala, Chief Executive Officer


For further information please visit or contact:

Janne Huhtala, Chief Executive Officer
+358 (0)40 8615046

UB Capital Oy (Certified Adviser)
+358 (0)9 2538 0225

Consilium Strategic Communications
Mary-Jane Elliott / Ivar Milligan
+44 (0)20 3709 5700


About Nexstim Plc
Nexstim, formed in 2000 and based in Finland, is a medical technology company aiming to improve rehabilitation for stroke patients. Nexstim 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) device for pre-surgical mapping of the motor and speech cortices. Based on the same technology platform, the company has developed a device for stroke therapy called Navigated Brain Therapy (NBT®). In H1 2014, Nexstim initiated a two-year pivotal Phase III study at 12 sites in the US aiming to demonstrate the effectiveness of NBT® and gain FDA clearance for commercialisation in post-acute stroke therapy in the US. Nexstim’s shares are listed on Nasdaq First North Finland and Nasdaq First North Sweden. For more information please visit


Source: Nexstim Plc