BrainsWay Announces Prominent Addition to Scientific Advisory Board

Rhea-AI Summary

BrainsWay Ltd. (NASDAQ: BWAY) has appointed Dr. Zafiris Daskalakis to its scientific advisory board, enhancing its expertise in brain stimulation. Dr. Daskalakis, Chair of Psychiatry at UCSD, brings extensive research knowledge and over 450 publications in neurophysiology and psychiatric disorders. This strategic addition aims to strengthen BrainsWay’s growth and clinical impact as it seeks to expand the application of its Deep TMS™ technology for mental health treatment. CEO Christopher von Jako emphasized the importance of Dr. Daskalakis’s insights in navigating the company's future.

Positive

• Appointment of Dr. Zafiris Daskalakis to the scientific advisory board enhances clinical expertise.
• Dr. Daskalakis's extensive research background could lead to improved strategies for Deep TMS™ technology.
• Expected growth in BrainsWay's clinical impact and potential expansion in mental health treatment options.

Negative

• Concerns may arise regarding continuity and experience gaps with the addition of new advisory members.

Zafiris Daskalakis, MD, PhD to Bring Extensive Research and Clinical Expertise to Assist in Guiding Growth and Clinical Impact Strategy

BURLINGTON, Mass. and JERUSALEM, Oct. 12, 2021 (GLOBE NEWSWIRE) -- BrainsWay Ltd. (NASDAQ & TASE: BWAY) (“BrainsWay" or the “Company”), a global leader in advanced noninvasive neurostimulation treatments for mental health disorders, today announced the addition of Dr. Zafiris “Jeff” Daskalakis to BrainsWay’s scientific advisory board (SAB).

“We are extremely honored that Dr. Daskalakis has agreed to join our world-class scientific advisory board,” said Christopher von Jako, PhD, President and CEO of BrainsWay. “He has been at the forefront of expanding clinical understanding of brain stimulation, and his insight and direction will be critical as BrainsWay looks to navigate this next phase of the company’s growth.”

Dr. Daskalakis, MD, PhD is Chair of the Department of Psychiatry at the University of California San Diego (UCSD) School of Medicine. Prior to joining UCSD, Dr. Daskalakis was Professor of Psychiatry at the University of Toronto and served as both co-director of the Temerty Centre for Therapeutic Brain Intervention and Chief of the General Adult Psychiatry and Health Systems Division at the Center for Addiction and Mental Health (CAMH) in Toronto. His research is focused on developing a better understanding of neurophysiology of severe psychiatric disorders and the role of brain stimulation in treating these conditions. Dr. Daskalakis has authored more than 450 peer-reviewed publications and serves on the editorial board of multiple journals.

“I look forward to working closely with both the BrainsWay team and my fellow SAB members to help fully realize the potential of Deep TMS™ in addressing mental health disorders,” said Dr. Jeff Daskalakis. “BrainsWay has held an unwavering commitment to clinical excellence, and I am excited to have this opportunity to provide informed guidance that will ultimately translate into expanded options for patients suffering from these debilitating illnesses.”

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, 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 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, and include, but are not limited to, statements about the expected proceeds, use of proceeds and closing of the underwritten offering. 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, 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
SAreglado@brainsway.com

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

Media Contact:
Will Johnson
Antenna
201-465-8019
BrainsWay@antennagroup.com

FAQ

Who is Dr. Zafiris Daskalakis and what is his role at BrainsWay?

Dr. Zafiris Daskalakis is a renowned psychiatrist and the new member of BrainsWay's scientific advisory board, bringing extensive research expertise in brain stimulation and psychiatric disorders.

What impact will Dr. Daskalakis's appointment have on BrainsWay?

Dr. Daskalakis's appointment is expected to enhance BrainsWay's growth strategy and clinical impact, specifically in advancing its Deep TMS™ technology.

What is Deep TMS™ and its significance for BrainsWay?

Deep TMS™ is a noninvasive neurostimulation treatment developed by BrainsWay, with proven efficacy for mental health disorders, and the company aims to broaden its applications under the guidance of its advisory board.

When was the announcement of Dr. Daskalakis joining BrainsWay made?

The announcement regarding Dr. Daskalakis's appointment to BrainsWay's scientific advisory board was made on October 12, 2021.