Nexstim goes commercial with new funding
Medical technology company Nexstim is raising 1.75 million euros in equity financing via a directed issue of new shares to a UK-based fund.
Nexstim develops and markets navigated non-invasive brain stimulation systems for both therapeutic and diagnostic applications. With the new financing, Nexstim aims to begin commercialisation of its NBT system for the treatment of stroke, depression and pain in the US and Europe.
The NBT system is based on Nexstim’s navigated Transcranial Magnetic Stimulation, which allows for accurate, reproducible brain stimulation in therapy.
The shares, issued to a London-based fund managed by City Financial Investment Company, are expected to be registered with the Finnish Trade Register at the end of the month.
“We are very pleased to welcome City Financial as a new shareholder in Nexstim,” says Nexstim CEO and chairman Martin Jamieson. “Their support reflects confidence in our strategy to commercialise our NBT system for stroke, depression and pain, major indications where there are clear needs for improved treatment approaches. This investment leaves us well funded to execute our strategy through to the end of Q1 2019.”