JERUSALEM, Dec. 9, 2011 (GLOBE NEWSWIRE) -- Brainsway Ltd. (TASE:BRIN) is pleased to announce that it has received interim results from an animal study being conducted at the Sheba Medical Center to explore the effects of the Company's device on macular degeneration.

In the first stage of the study, the effects of electromagnetic stimulation in an animal model for retinal degeneration were explored in 15 rats, of which eight received active stimulation treatment and seven received sham treatment, over the course of two weeks. A short-lasting improvement in the retina's response to light was observed following this stage of the study, with the real treatment group displaying significantly improved retinal function relative to control animals, as measured by an electroretinogram – a standard measure of the electrical response of the retina to light (the improvement was apparent in the late negative deflection of the electroretinogram).

The second stage of the study was conducted with 16 rats, of which half received real treatment and half received sham stimulation, and was essentially the same as the first, except that stimulation was prolonged to four weeks. Extending the treatment period produced a greater and longer-lasting improvement in retinal function. In addition, the longer treatment period also brought about an improvement in the b-wave of the electroretinogram (which indicates improved photoreceptor function). This latter improvement wasn't observed in the first stage of the study.

The results of this study were presented at the International Symposium for Ocular Pharmacology and Therapeutics (ISOPT) in Vienna on December 2, 2011.

The principal investigator commented, "In light of the favorable results of the study, we plan to conduct further research, which will include testing of eye tissue, and will be aimed at optimizing the treatment protocol. We also intend to conduct clinical testing on human subjects with macular degeneration-induced blindness."

About Brainsway Inc.

Brainsway Ltd. is dedicated to the development and marketing of Deep TMS (Transcranial Magnetic Stimulation) 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.

Stephen Kilmer
Kilmer Lucas Inc.
(212) 618-6347