JERUSALEM Jan 21 Israel's Brainsway
is in talks with a number of companies in the United States and
Canada to sell its device for the treatment of depression in
patients who fail to respond to medication.
"Brainsway is in negotiations and in discussions with a few
companies - large and mid-sized - to finalise partnerships and
marketing agreements in North America," Uzi Sofer, Brainsway's
chief executive, told Reuters.
Earlier this month, Brainsway received U.S. and Canadian
regulatory approval to market its Deep TMS (transcranial
magnetic stimulation). The company estimates the U.S. market
alone at tens of billions of dollars.
Sofer said negotiations with some of the companies, which he
declined to name, were advanced but no deal was imminent and
could take months.
Forging a marketing deal, he said, would be difficult since
Brainsway's product has numerous applications so it is not clear
whether there will be one or multiple distribution agreements.
Sofer noted that once a deal is finalised the company
intends to list its shares on Nasdaq in addition to the Tel Aviv
Brainsway's shares were 6.3 percent higher at 46.21 shekels
in early afternoon trading.