JERUSALEM, April 03, 2017 (GLOBE NEWSWIRE) -- Brainsway Ltd. (TASE:BRIN), the leader in the development of advanced noninvasive treatments for brain disorders, announced today the start of Yaacov Michlin’s tenure as CEO. Mr. Michlin brings decades of experience in growing biomedical organizations. He joined Brainsway in 2015 serving as a director on its board providing exceptional guidance and knowledge of the industry.
“We are pleased to welcome Yaacov as CEO as he possesses the right blend of strategic acumen, interpersonal skills, and management capabilities necessary to maximize Brainsway's potential,” said Dr. David Zacut, outgoing CEO and Chairman of the Board at Brainsway. Among his many goals, Yaccov aims to make Brainsway Deep Transcranial Magnetic Stimulation, or Deep TMS, a recognizable treatment currently for major depression and in the future for other brain disorders.
For the past eight years, Michlin has served as president and CEO of Yissum, the technology transfer company of Israel's Hebrew University in Jerusalem. At Yissum, he facilitated and oversaw numerous corporate transactions and initiatives in partnership with corporations across the globe. Michlin plans to leverage this experience and being able to broker corporate partnerships to expand the footprint of Deep TMS within psychiatry and other areas of brain disorders.
“I am grateful to lead an incredible organization filled with diligent, creative, and highly skilled employees that have developed world class products and continue to innovate and develop next generations of products to address various brain disorders,” said Michlin. “My aim is to expand Brainsway leadership in providing noninvasive, safe treatments for depression – and in the future more brain disorders – by expanding its current footprint in the United States, Europe and other areas and by continuing the investment in its R&D and deep science that backs Brainsway’s current and future products.”
Mr. Michlin is a lawyer and economist by training, and holds an MBA from the Technion in high-tech company management. We greatly appreciate Dr. David Zacut for bridging the gap as interim CEO with his passion and extensive knowledge. As we head into Q2, our organization is grateful to have Mr. Michlin lead Brainsway and look forward to high growth and success in the coming years.
About Brainsway
Brainsway Ltd./ Brainsway USA is a leader in noninvasive treatments for brain disorders utilizing Deep Transcranial Magnetic Stimulation (Deep TMS). Our unique patented technology was developed in collaboration with the National Institute of Health (NIH) and is FDA and CE cleared to treat patients with depression who are not currently responding to medication. The treatment has been enthusiastically supported by many academic communities and is widely covered by most insurance payers. For more information, please visit www.brainsway.com.
Brainsway Deep TMS is indicated by the FDA for the treatment of depressive episode in adults suffering from Major Depressive Disorder, who failed to achieve satisfactory improvements from previous anti-depressant medication treatment in the current episode. FDA 510(k) No. K122288