JERUSALEM, Jan. 10, 2017 (GLOBE NEWSWIRE) -- Brainsway Ltd. (TASE:BRIN), the leader in the development of advanced noninvasive treatments for brain disorders, announced today the appointment of Yaacov Michlin as CEO. Mr. Michlin brings two decades of experience in growing biomedical organizations. His proficiency in corporate finance, capital markets and business management and development has played a crucial role in the success of leading organizations throughout the biotech industry. He joined Brainsway in 2015 serving as a director on its board providing exceptional guidance.
“We are pleased to welcome Yaacov as CEO, following a rigorous selection process, as he brings extensive expertise in steering biomedical companies to success,” said Dr. David Zacut, chairman at Brainsway. “Yaacov possesses the right blend of strategic acumen, interpersonal skills, relationship assets and management capabilities necessary to maximize Brainsway's technological potential and human talent. We are confident that these factors will enable the company to achieve its objectives and that Yaacov will succeed in positioning Brainsway as the leading global growth engine for the treatment of brain disorders.”
For the past seven years, Mr. Michlin has served as president and CEO of Yissum, the technology transfer company of Israel's Hebrew University in Jerusalem. At Yissum, he facilitated and oversaw numerous major corporate transactions and initiatives in partnership with corporations across the globe. Mr. Michlin also currently serves as chairman of the board for three biotech companies: Integra Holdings, a healthcare investment company; Avraham Pharmaceuticals, a developer of neurodegenerative treatment and prevention products; and Agrinnovation, an agritech fund.
Prior to Yissum, Mr. Michlin practiced as a corporate lawyer, advising on major corporate matters including mergers and acquisitions, capital raising and initial public offerings for clients including Teva Pharmaceutical Industries. Mr. Michlin previously served as chairman for QLIGHT Nanotech Ltd., a developer of semiconductors and nanocrystals, which he led from the company's founding until its acquisition by Merck. He also served as co-chairman of ITTN, an organization which facilitates the commercialization of Israeli technologies.
Mr. Michlin is a lawyer and economist by training, and holds an MBA from the Technion in high-tech company management. Dr. Zacut has been instrumental in bridging the gap as interim CEO, bringing his passion and extensive knowledge. In the new year, Mr. Michlin will take the reins and lead Brainsway to high growth and success.
Brainsway Ltd./ Brainsway USA is a leader in noninvasive treatments for brain disorders utilizing Deep Transcranial Magnetic Stimulation (Deep TMS). Our unique patented technology was developed in collaboration with the National Institute of Health (NIH) and is FDA and CE cleared to treat patients with depression who are not currently responding to medication. The treatment has been enthusiastically supported by many academic communities and is widely covered by most insurance payers. For more information, please visit www.brainsway.com.
Media Contact: Megan Vandenbos Brainsway@antennagroup.com 201-465-8019