JERUSALEM, Aug. 21, 2012 (GLOBE NEWSWIRE) -- Brainsway Ltd. (BRIN.TA) is pleased to announce that, further to its press release of November 1, 2011, the Company has contracted with 18 medical research centers, mainly in the United States, Canada and Israel, to participate in its multicenter clinical trial to evaluate the efficacy of its Deep TMS device in the treatment of biopolar disorder. To-date, of those 18 participating centers, seven have begun patient recruitment.
Bipolar disorder (also known as manic-depressive disorder) is a mental illness that causes unusual movements of a patient's mood and ability to function. It is estimated that approximately 2 million people in the United States (roughly 1% of the adult popular) are diagnosed with bipolar disorder each year.
"Repeating similar positive results to those achieved in initial human experiments in this large study would constitute a breakthrough in treating this difficult disorder," said Ronen Segal, Brainsway's Chief Technology Officer. "This study also serves to demonstrate the versatile potential of our Deep TMS technology to change the rules of the game – effectively addressing a number of unmet medical needs in both psychiatry and neurology," Segal added.
About Brainsway Ltd.
Brainsway is dedicated to the development and marketing of Deep TMS (Transcranial Magnetic Stimluation) systems – novel, noninvasive medical devices for treatment of a wide range of neurological and psychopathological disorders. In principle, any brain-related disorder that is associated with pathological activity of specific brain sites may be treated by this method. Potential applications include addiction, schizophrenia, obesity, eating disorders, Parkinson's disease, Alzheimer's disease, autism and post-traumatic stress disorder.
Our initial focus is the treatment of major depression. The unique technology of Brainsway is based on patents filed by the U.S. National Institute of Health (NIH) and by the company. Brainsway has an exclusive license from the NIH for the patent and technology. Headquartered in Jerusalem, Israel, the company's ordinary shares and warrants trade on the Tel Aviv Stock Exchange under the symbol 'BRIN'.
Forward-Looking Statements
This press release contains forward-looking statements, which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein. Investors should consult the Company's ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements.