BrainsWay Announces Addition of Markus Heilig, M.D., Ph.D., to Scientific Advisory Board

Rhea-AI Summary

BrainsWay Ltd. (NASDAQ: BWAY) has appointed Professor Markus Heilig, an expert in addiction and anxiety treatment, to its scientific advisory board. Professor Heilig, who has a notable background in neuroscience and previously directed clinical research at the National Institute on Alcohol Abuse and Alcoholism, will guide BrainsWay's research strategies, particularly in Deep TMS™ therapy. This appointment underscores BrainsWay's commitment to advancing neuroscience amid urgent mental health needs and aims to enhance treatment efficacy for mental health disorders.

Positive

• Appointment of Professor Heilig expected to enhance research capabilities and clinical strategies.
• Strengthening of scientific advisory board adds valuable expertise in addiction and anxiety treatment.

Negative

• Potential concerns about continuity and experience gaps due to management changes.

World-Renowned Specialist in Addiction and Anxiety Treatment Joins Premier Group of Researchers and Clinicians Advising Company

BURLINGTON, Mass. and JERUSALEM, Jan. 26, 2022 (GLOBE NEWSWIRE) -- BrainsWay Ltd. (NASDAQ & TASE: BWAY) (“BrainsWay” or the “Company”), a global leader in the advanced noninvasive treatment of brain disorders, today announced the addition of Professor Markus Heilig, M.D., Ph.D., to BrainsWay’s scientific advisory board.

“It is my distinct pleasure to welcome Professor Heilig to our scientific advisory board,” said Christopher von Jako, Ph.D., President and CEO of BrainsWay. “His extensive body of research has helped lay the foundation upon which we continue to build clinical advancements, including his recent results treating alcohol dependent patients with Deep TMS™. As a luminary in the field, Professor Heilig will serve a significant role in shaping our future research and clinical strategies.”

Professor Heilig is the Founding Director of the Center for Social and Affective Neuroscience of Linköping University and the region of Östergötland, a major initiative supported by the Swedish Research Council. His program studies brain mechanisms behind addiction and anxiety disorders using translational approaches. Professor Heilig’s research strategies include analysis of gene expression and its epigenetic programming, behavioral studies in rodent models, and human experimental medicine utilizing behavioral, neuroendocrine, psychophysiological, and functional brain imaging-based methods. The overall objective of his research is to identify novel therapeutic targets. From 2004-2015, Professor Heilig served as the Director of Clinical and Translational Research at the National Institute on Alcohol Abuse and Alcoholism (NIAAA), a division of the National Institutes of Health (NIH).

“BrainsWay continues to demonstrate their commitment to advancing the field of neuroscience and brain stimulation, and I am honored to join my peers and colleagues as a member of the Company’s scientific advisory board,” said Professor Heilig. “I am excited for this opportunity to support the future of Deep TMS at the crossroads of research and commercialization. With the ongoing pandemic and growing mental health crisis, the need has never been greater for clinically impactful treatments that truly help patients suffering from debilitating mental health conditions.”

About BrainsWay
BrainsWay is a global leader in advanced noninvasive neurostimulation treatments for mental health disorders. The Company is boldly advancing neuroscience with its proprietary Deep Transcranial Magnetic Stimulation (Deep TMS™) platform technology to improve health and transform lives. BrainsWay is the first and only TMS company to obtain three FDA-cleared indications backed by pivotal studies demonstrating clinically proven efficacy. Current indications include major depressive disorder (including reduction of anxiety symptoms, commonly referred to as anxious depression), obsessive-compulsive disorder, and smoking addiction. The Company is dedicated to leading through superior science and building on its unparalleled body of clinical evidence. Additional clinical trials of Deep TMS in various psychiatric, neurological, and addiction disorders are underway. Founded in 2003, with offices in Burlington, MA and Jerusalem, Israel, BrainsWay is committed to increasing global awareness of and broad access to Deep TMS. For the latest news and information about BrainsWay, please visit www.brainsway.com.

Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. These forward-looking statements and their implications are based on the current expectations of the management of the Company only and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: inadequacy of financial resources to meet future capital requirements; changes in technology and market requirements; delays or obstacles in launching and/or successfully completing planned studies and clinical trials; failure to obtain approvals by regulatory agencies on the Company’s anticipated timeframe, or at all; inability to retain or attract key employees whose knowledge is essential to the development of Deep TMS products; unforeseen difficulties with Deep TMS products and processes, and/or inability to develop necessary enhancements; unexpected costs related to Deep TMS products; failure to obtain and maintain adequate protection of the Company’s intellectual property, including intellectual property licensed to the Company; the potential for product liability; changes in legislation and applicable rules and regulations; unfavorable market perception and acceptance of Deep TMS technology; inadequate or delays in reimbursement from third-party payers, including insurance companies and Medicare; inability to commercialize Deep TMS, including internationally, by the Company or through third-party distributors; product development by competitors; inability to timely develop and introduce new technologies, products and applications; continuation and/or exacerbation of the global supply chain crisis and its impact on the Company’s ability to source components, meet customer demand, fill orders, maintain pricing levels and support the Company’s service needs; and the effect of the global COVID-19 health pandemic on our business and continued uncertainty and market impact relating thereto.

Any forward-looking statement in this press release speaks only as of the date of this press release. The Company undertakes no obligation to publicly update or review any forward- looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. More detailed information about the risks and uncertainties affecting the Company is contained under the heading “Risk Factors” in the Company’s filings with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 20-F. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov.

Contacts:
BrainsWay:
Scott Areglado
SVP and Chief Financial Officer
844-386-7001
Scott.Areglado@BrainsWay.com

Investors:
Bob Yedid
LifeSci Advisors
646-597-6989
Bob@LifeSciAdvisors.com

Media Contact:
Will Johnson
brainsway@antennagroup.com
(201) 465-8019

 

FAQ

Who is Professor Markus Heilig and why has he joined BrainsWay?

Professor Markus Heilig is an expert in addiction and anxiety treatment, recently added to BrainsWay's scientific advisory board to enhance its research and clinical strategies.

What is the impact of adding Professor Heilig on BrainsWay's business?

His addition is expected to improve BrainsWay's research capabilities and treatment efficacy, particularly in Deep TMS therapy.

When was Professor Heilig appointed to BrainsWay’s advisory board?

Professor Heilig was appointed to BrainsWay's scientific advisory board on January 26, 2022.

What is BrainsWay's focus in terms of treatment?

BrainsWay focuses on advanced noninvasive neurostimulation treatments for mental health disorders, including its proprietary Deep TMS technology.

What are the qualifications of Professor Heilig?

Professor Heilig has extensive research experience in addiction and anxiety disorders, serving as a director at the National Institute on Alcohol Abuse and Alcoholism and leading various neuroscience initiatives.