– ISRAEL, Jerusalem – Brainsway Ltd. (NASDAQ:BWAY / TASE:BWAY), a commercial stage medical device company focused on the development and sale of non-invasive neuromodulation products using the Company’s proprietary Deep Transcranial Magnetic Stimulation system (Deep TMS) technology for the treatment of major depressive disorder and obsessive-compulsive disorder, today announced that Professor Abraham Zangen, Ph.D., a pioneering scientist in the field of TMS, has been appointed as a director. In addition, Ms. Eti Mitrany’s tenure as a director has been extended. Professor Zangen’s and Ms. Mitrany’s tenure will expire at the Company’s next general meeting of shareholders. Finally, Ms. Eynat Tsafrir has completed her tenure on Brainsway’s Board of Directors.
“We are extremely excited to welcome Professor Zangen to the Company’s Board of Directors, in addition to his current role on our Scientific Advisory Board,” said David Zacut, M.D., Chairman of the Board of Directors of Brainsway.
“As a scientific co-founder of the Company whose early work in Deep TMS was instrumental in the development of the H-Coil, he is a pioneer in the industry, and we look forward to further benefiting from his technological insights as we continue to push the boundaries of Deep TMS beyond MDD and OCD. I would also like to thank Ms. Tsafrir for her vast contributions to Brainsway and wish her well in her future endeavors,” he added.
About Pr. Abraham Zangen
Professor Zangen is the Head of the Brain Stimulation and Behavior Lab and the Chair of the PsychoBiology Brain Program at Ben-Gurion University in Israel. His research is directed at identifying and understanding altered neuroplasticity in psychiatric disorders, primarily depression, addiction, and ADHD, utilizing brain stimulation and imaging techniques to explore mechanisms and potential clinical applications. He co-developed, along with Dr. Yiftach Roth, the Deep TMS coil which serves as Brainsway’s platform technology.
“As a scientific co-founder and member of Brainsway’s Scientific Advisory Board, I am impressed by the exponential growth in the number of patients benefiting from the Company’s technology,” said Professor Zangen. “I am pleased to be joining Brainsway’s Board of Directors at such a transformational period in the Company’s history and look forward to working with the rest of the Board to identify additional growth opportunities.”
Professor Zangen has published over 150 peer-reviewed articles, reviews and book chapters. He has been awarded numerous prizes for his scientific achievements, including the Medical Futures Innovation Award in London, the Sieratzki Prize for Advances in Neuroscience and the Juludan Prize at the Technion. He has also received several distinguished research grants, including from the National Institutes of Health, H2020, and the Israel Science Foundation.
About Brainsway
Brainsway is a commercial stage medical device company focused on the development and sale of non-invasive neuromodulation products using the Company’s proprietary Deep Transcranial Magnetic Stimulation (Deep TMS) technology for the treatment of major depressive disorder and obsessive-compulsive disorder, for which Brainsway received marketing authorization from the U.S. Food and Drug Administration (FDA) in 2013 (for MDD) and in August 2018 (for OCD). Brainsway is currently conducting clinical trials of Deep TMS in other psychiatric, neurological and addiction disorders, including smoking cessation and post-traumatic stress disorder, and is planning trials for opioid addiction, fatigue in multiple sclerosis (MS) and post-stroke rehabilitation.
For more information: https://www.brainsway.com
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