PHILADELPHIA, Oct. 16, 2012 — /PRNewswire/ — Neuronetics, Inc., a privately-held medical device company committed to the development of innovative, non-invasive therapies to treat psychiatric conditions, announced today that its NeuroStar TMS Therapy® System has been awarded the prestigious Phoenix 2012 Most Promising New Product Award at the 19th annual Phoenix Conference. Phoenix, the Medical Device and Diagnostic Conference for Chief Executive Officers, presents awards each year to exceptional individuals and companies representing the medical device and diagnostic industry.
The NeuroStar TMS (Transcranial Magnetic Stimulation) Therapy System is a non-invasive, non-drug therapeutic device that delivers magnetic resonance imaging (MRI)-strength, pulsed magnetic fields to stimulate nerve cells in the part of the brain thought to control mood. The NeuroStar TMS Therapy® System is the first and only TMS system cleared by the US FDA formajor depressive disorder (MDD). It has been proven to be safe and effective for patients with MDD who have not benefitted from antidepressant medication. The goal of NeuroStar TMS Therapy is remission from depression without the side effects typical of antidepressant medications.
“On behalf of the entire team at Neuronetics, I am honored to receive the Phoenix 2012 Most Promising New Product Award for NeuroStar TMS, a breakthrough in depression treatment, and appreciative that the industry has recognized its value to patients and physicians,” said Bruce Shook, President and CEO, Neuronetics, Inc. “We are privileged to offer a proven treatment to the millions of people suffering with major depressive disorder and contribute toward their wellness.”
Depression is a serious illness that affects about 20 million Americans annually. People with depression may experience a range of physically and emotionally debilitating symptoms, including anxiousness, sadness, irritability, fatigue, changes in sleep patterns, loss of interest in previously enjoyable activities and digestive problems. It is estimated that about four million patients do not benefit from standard treatments for depression, even after repeated treatment attempts.
About NeuroStar TMS Therapy®
Neuronetics’ NeuroStar TMS Therapy System was cleared by the FDA in October 2008 for the treatment of Major Depressive Disorder (MDD). NeuroStar TMS Therapy is indicated for the treatment of MDD in adult patients who have failed to achieve satisfactory improvement from one prior antidepressant medication at or above the minimal effective dose and duration in the current episode. NeuroStar TMS Therapy is a non-systemic (does not circulate in the bloodstream throughout the body) and non-invasive (does not involve surgery) form of neuromodulation. It stimulates nerve cells in an area of the brain that has been linked to depression by delivering highly-focused MRI-strength magnetic field pulses. The treatment is available by prescription and typically administered daily for 4-6 weeks. For full safety and prescribing information, visitwww.NeuroStar.com.
About Neuronetics, Inc.
Neuronetics, Inc., is a privately-held medical device company focused on developing non-invasive therapies for psychiatric and neurological disorders using MRI-strength magnetic field pulses. Based in Malvern, PA, Neuronetics is the leader in the development of TMS Therapy, a non-invasive form of neuromodulation. Neuronetics was created as a spin-out of The Innovation Factory, a medical device incubator in Duluth, GA. For more information, please visitwww.neuronetics.com.
NeuroStar®, NeuroStar TMS Therapy® and TMS Therapy® are registered trademarks of Neuronetics, Inc.
SOURCE Neuronetics, Inc.