JERUSALEM, Feb. 23, 2012 (GLOBE NEWSWIRE) -- Brainsway Ltd. (TASE:BRIN) is pleased to announce that it has received the Frost & Sullivan 2012 Global New Product Innovation Award in Neuro-psychiatric Devices for its Deep TMS system.
The Frost & Sullivan Best Practices Research Report evaluated available neuro-psychiatric devices for the treatment of various neurological and psychiatric conditions. These devices were assessed using five business performance categories: innovative element of the product, ability to leverage leading-edge technologies in the product, value-added features and benefits, ability to increase customer ROI and customer acquisition/penetration potential. To support its evaluation, Frost & Sullivan employs a customized Decision Support Matrix ("DSM"). The DSM is an analytical tool that compares companies' performance relative to each other with an integration of quantitative and qualitative metrics. The DSM follows a 10-point scale that allows for nuances in performance evaluation. In the neuro-psychiatric devices category, the Brainsway deep TMS system earned a weighted rating of 8.6 versus ratings of 6.6 and 5.8 for its closest competitors.
Quoting directly from Frost & Sullivan's report, "Brainsway's deep Transcranial Magnetic Stimulation (TMS) is the only innovative, noninvasive technique that can be used for treatment of depression and other neuro-psychiatric disorders without causing any significant side effects. The system has shown high efficacy compared to the conventional treatment methods for depression and also the standard TMS systems that are currently used in the market. The key opinion leaders across Europe and United States are already using this device and the clinical evidence so far suggests that deep TMS system of Brainsway is highly efficient and is very promising for the treatment of neuro-psychiatric disorders."
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages over 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.
About Brainsway Ltd.
Brainsway Ltd. 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'.
Disclaimer Notice
Brainsway's Deep TMS systems are investigational device products and have not yet been evaluated or reviewed by the US Food and Drug Administration. The systems are not currently available for clinical use or commercial sale in the United States.
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.