Nexstim Plc Depression Therapy Business Update

Helsinki, Finland: 14 January 2019 - Nexstim Plc (NXTMH:HEX, NXTMS:STO), the targeted neuromodulation company developing and marketing pioneering navigated personalised, non-invasive brain stimulation systems for the treatment of Major Depression Disorder (MDD), has shifted its resources and focus during year 2018 to generating Navigated Brain Therapy (NBT®) system sales for the treatment of MDD. This strategy has delivered good results with the company installing five NBT® depression therapy systems in the US since the launch of the depression indication in May of 2018. In Europe and rest of the world there are now a total of five NBT® systems installed for the treatment of depression.

All of the current NBT® systems in the US have been installed on a pay-per-use leasing model meaning that the majority of the NBT® therapy revenue from these systems will be recognized as net sales during year 2019. In the US, Nexstim is targeting an annual revenue level of about US$ 100 thousand per installed NBT® system. The European TMS markets are more varied and less developed than the US. As a result, Nexstim has adopted different targeted revenue models, which take into account the mix of private and public payors in each of the countries it operates.

More info on Nexstim's website.

Next > Confo Therapeutics forms Scientific Advisory Board as it accelerates development of proprietary drug discovery engine

Previous > Capricorn Venture Partners holds final close of its Capricorn Sustainable Chemistry Fund at € 86.5 million adding new investors