Helsinki, 25(th) 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."
NEXSTIM PLC
Janne Huhtala, Chief Executive Officer
For further information please visit www.nexstim.com or contact:
Nexstim +358 (0)40 8615046
Janne Huhtala, Chief Executive Officer
janne.huhtala@nexstim.com
UB Capital Oy (Certified Adviser) +358
(0)9 2538 0225
Consilium Strategic Communications +44
(0)20 3709 5700
Mary-Jane Elliott / Ivar Milligan
nexstim@consilium-comms
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 www.nexstim.com.
[HUG#1905964]
