JERUSALEM, Oct. 13, 2014 (GLOBE NEWSWIRE) -- Brainsway Ltd. (TASE:BRIN) announced that its Deep TMS treatment has won the 2014 Federal Laboratory Consortium for Technology Transfer (FLC) Mid-Atlantic Regional Award for Excellence in Technology Transfer.
Brainsway's accomplishment will be recognized at a special presentation on Wednesday, November 19, 2014 at the FLC Mid-Atlantic Regional Meeting, which will take place at the Maritime Institute of Technology and Graduate Studies in Linthicum Heights, Maryland.
The FLC Tech Transfer award is given annually both on a regional (Mid-Atlantic) and National level. The Federal Laboratory Consortium is a non-profit organization in which federal agencies with basic research and technology transfer components participate. The technology transfer award honors a particular technical transfer interaction between a government agency and a private entity that has a substantial public health impact.
The award was granted to Brainsway jointly with the National Institutes of Neurological Disorder and Stroke, which also plans to submit Brainsway Deep TMS for the FLC National award as well.
"Since the US President recently sent out a research initiative focused on the brain, we thought that our research collaborations with Brainsway would be a good fit," says Michael A. Shmilovich, Esq., CLP, National Institutes of Health. "We look forward to submitting this nomination to compete on the national level."
"It is a great honor for Brainsway to receive this distinguished award," said Uzi Sofer, CEO, Brainsway. "As the award signifies, I believe our Deep TMS technology will have a revolutionary impact on public health, potentially restoring wellbeing, calm and happiness to many thousands of people worldwide."
Brainsway Ltd. is dedicated to the development and marketing of dTMS (deep Transcranial Magnetic Stimulation) systems, for treatment of brain disorders. The unique technology of Brainsway is based on patents filed by the National Institute of Health (NIH), and by the company. Brainsway has an exclusive license from the NIH for the patent and technology. Brainsway's technology was cleared by the FDA for treatment of depression patients who did not respond to any number of medication treatments in the current depressive episode. Brainsway's dTMS was enthusiastically received by the international academic community, with 60 clinical trials held in major institutions worldwide.
This press release contains forward-looking statements, which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein. Investors should consult the Company's ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements.
CONTACT: For further information, please contact: Ronen Segal COO Brainsway Ltd. Chairman of BSMT Brain Stimulation & Monitoring Technologies Consortium Tel: +972 2 5824030 Email: firstname.lastname@example.orgSource:Brainsway Ltd.