Brainsway Ltd is hoping to reach an agreement with a medical device company in order to gain help in marketing its new non-invasive Deep TMS system that is used for treating depression. Some of the companies that Brainsway is talking to may include Medtronic, St. Jude Medical and others. So far, industry insiders say the talks are leaning toward Brainsway receiving a large upfront payment for the marketing and distribution of their device.
“We are in discussions with several large companies interested in partnering with us,” Sofer said in an interview at the company’s Jerusalem headquarters, where an assembly line is set to churn out 20 devices a month. “Our next step is to reach a deal with a distributor.”
The focus of all this is the Brainsway’s Deep TMS device, which is said to provide doctors with a depression treatment that doesn’t require dangerous drugs like Paxil or surgery. The device was approved recently by the American FDA and Health Canada.
If this device works, it could wind up making Brainsway a ton of money, since depression medication continues to be prescribed at an alarming rate. With the number of people being diagnosed with depression constantly rising, there is always a need for doctors to find a new and safer way to treat them. Current studies have revealed that antidepressants like Paxil are linked to violent and suicidal thoughts and behaviors, as well as birth defects in babies whose mothers take the drugs while pregnant. Some of the side effects linked to antidepressants like Paxil include PPHN, neural tube defects, oral clefts and heart, lung and brain defects.
Since many doctors have even gone so far as to state that drugs like Paxil don’t work in alleviating the symptoms of depression, it just doesn’t make sense to even take the risk… regardless of what studies suggest. This new device by Brainsway may, in fact, prove to finally provide a cure for the condition that can rid the population of the need to use antidepressants ever again.
