Press release, Helsinki, 2 June 2017, there 14.30
Nexstim Plc (NXTMH:HEX, NXTMS:STO) (“Nexstim” or the “company”), a medical device company that developed and markets a ground-breaking system to navigate a non-invasive brain stimulation for therapeutic and diagnostic applications, announces that it has agreed with Innovationsfinansieringsverket Tekes for an extension of three years on the payback period on the two R & d loans. Through the agreement, refunds to an amount of up to eur 1.8 million maturing in 2017-2019 to take place between 2020 and 2022. The two R & d loans from Tekes shall be refunded to the full amount of the weather conditions the end of 2023.
Nexstims chairman of the board and ceo Martin Jamieson comments on the agreement: “the Agreement to put on återbetalningsschemat of R & d loans from Tekes will have a positive effect on the Nexstims cash flow and contributes to our working capital as we prepare the commercialisation of the NBT®system for the treatment of stroke in the united states.”
NEXSTIM PLC
Martin Jamieson, chairman of the board and ceo
Additional information is available on the website
www.nexstim.com
or per telephone:
Nexstim +44 771 516 39 42
Martin Jamieson, chairman of the board and ceo martin.jamieson@nexstim.com
UB Securities Oy (Certified Adviser) +358 (0)9 2538 02 46
Citigate Dewe Rogerson +44 (0)207 2821066
Katja Stout katja.stout@citigatedr.co.uk
About Nexstim Plc
Nexstim is a medical device company that developed and markets a ground-breaking system to navigate a non-invasive brain stimulation for therapeutic applications (NBT®system) and diagnostic applications (NBS-system). Nexstims NBS system is the first and only FDA-approved and CE-marked system to navigate transcranial magnetic stimulation (navigated Transcranial Magnetic Stimulation, nTMS) for mapping of the areas of motor skills and speech in the brain before a surgical procedure.
On the same technology platform the company has developed a system to navigate hjärnterapi (Navigated Brain Therapy, NBT®), which has received CE marking for the treatment of stroke, severe depression and chronic neuropathic pain. The NBT®system is currently undergoing additional Phase III trials (E-FIT) with 60 patients. Nexstim expects the trial ends the second quarter of 2018 and that the company then can request for authorization from the FDA. With the approval from the FDA would Nexstim able to begin marketing and selling the NBT®system for the treatment of stroke in the united states.
Nexstims shares are listed on Nasdaq First North Finland and Nasdaq First North Sweden. More information is available at www.nexstim.com.
Nexstim Plc Tekes R & d loan extension of repayment period
