Company Announcement, Helsinki, 27 June 2024 at 4:45 PM (EEST)
Nexstim Plc Has Agreed on a Digitalization and Innovation Loan with Finnvera to Finance Product Development Project
Nexstim Plc (NXTMH:HEX) ("Nexstim" or "Company") has agreed on an EUR 1.5 million digitalization and innovation loan with Finnvera. The loan has been implemented in cooperation with the European Investment Fund. The Company intends to use the loan for financing product development work of its NBS 6 system. The loan period is six years, and the digitalization and innovation loan program’s loan conditions apply. More information about the loan program is available at https://www.finnvera.fi/eng/financing/loans/digitalisation-and-innovation-loan.
Mikko Karvinen, CEO of Nexstim, comments: “One of Nexstim’s strategic goals for 2024 is launching diagnostic applications as part of the new NBS 6 system. NBS 6 is a new combination system built on Nexstim's unique, clinically established technology and the modular system concept makes it easy to add new features to existing systems. The new system creates long-term value for Nexstim's customers and investors alike, and we’re very happy of Finnvera’s debt financing for this important product development work.”
Further information is available on the website www.nexstim.com, or by contacting:
Mikko Karvinen, CEO
+358 50 326 4101
mikko.karvinen@nexstim.com
The Company’s Certified Advisor is Carnegie Investment Bank AB (publ).
About Nexstim Plc
Nexstim is a Finnish, globally operating growth-oriented medical technology company. Our mission is to enable personalized and effective diagnostics and therapies for challenging brain diseases and disorders.
Nexstim has developed a world-leading non-invasive brain stimulation technology for navigated transcranial magnetic stimulation (nTMS) with highly sophisticated 3D navigation providing accurate and personalized targeting of the TMS to the specific area of the brain.
Nexstim’s Diagnostics Business focuses on commercialization of the Navigated Brain Stimulation (NBS) system. The NBS System 5 is the only FDA cleared and CE marked navigated TMS system for pre-surgical mapping of the speech and motor cortices of the brain.
Nexstim’s Therapy Business markets and sells the NBS System 6 which is FDA cleared for marketing and commercial distribution for the treatment of major depressive disorder (MDD) in the United States. In Europe, the NBS 6 system is CE marked for the treatment of major depression and chronic neuropathic pain.
Nexstim shares are listed on Nasdaq First North Growth Market Finland.
For more information, please visit www.nexstim.com
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