BURLINGTON, Mass. and JERUSALEM, Feb. 23, 2023 (GLOBE NEWSWIRE) -- BrainsWay Ltd. (NASDAQ & TASE: BWAY) (“BrainsWay” or the “Company”), a global leader in advanced noninvasive neurostimulation treatments for mental health disorders, today announced that Colleen Hanlon, Ph.D., Vice President of Medical Affairs, received the 2023 International Brain Stimulation Early Career Award (IBSECA) at the 5^th International Brain Stimulation Conference in Lisbon, Portugal. This award acknowledges outstanding contributions to the field of brain stimulation that have had a profound influence in shaping the field of neuroscience and medicine.

Dr. Hanlon was nominated for and elected to receive the award while she was a faculty member at Wake Forest University and before she joined BrainsWay.

“I am honored to receive this prestigious award, as I have dedicated my career to advancing neuroscience to improve mental health,” said Dr. Hanlon. “This is an exciting time with so many new neural-circuit based treatments with the potential to make a positive difference for patients.”

Dr. Mark George, Editor in Chief of Brain Stimulation and an uncompensated member of the BrainsWay Scientific Advisory Board, said, "In her brief but amazingly productive career so far, Colleen Hanlon has used imaging and neuroscience principles to innovate and elevate the field of transcranial magnetic stimulation (TMS) for addictions.”

Since earning her Ph.D. in Neurobiology from Duke University in 2005, Dr. Hanlon’s career has focused on developing noninvasive neural-circuit-based therapeutics for individuals struggling with alcohol or substance use disorders. She has been the principal investigator of over $12 million in National Institute of Health (NIH)-supported awards and has shaped international conversations regarding the development of transcranial magnetic stimulation (TMS) as a therapeutic approach for addictions. She is also the senior author on the first consensus paper for noninvasive neuromodulation in addiction, which represents a unifying effort from over 70 scientists from over 10 countries.

In addition to therapeutic development, Dr. Hanlon has also made important methodological contributions to the field of TMS at large. Using advanced brain imaging techniques, she and her trainees have highlighted the importance of cortical topography, gray and white matter density, and scalp-to-cortex distance as factors that influence the biologic effects of TMS. Her team was one of the first groups to apply TMS to the frontal pole and medial prefrontal cortex, areas which are now frequently evaluated as therapeutic targets across multiple psychiatric and neurologic diseases. She has also served as a primary mentor to 47 individuals, many of whom have become emerging leaders in the brain stimulation, imaging, and substance dependence fields.

About BrainsWay

BrainsWay is a global leader in advanced noninvasive neurostimulation treatments for mental health disorders. The Company is boldly advancing neuroscience with its proprietary Deep Transcranial Magnetic Stimulation (Deep TMS™) platform technology to improve health and transform lives. BrainsWay is the first and only TMS company to obtain three FDA-cleared indications backed by pivotal clinical studies demonstrating clinically proven efficacy. Current indications include major depressive disorder (including reduction of anxiety symptoms, commonly referred to as anxious depression), obsessive-compulsive disorder, and smoking addiction. The Company is dedicated to leading through superior science and building on its unparalleled body of clinical evidence. Additional clinical trials of Deep TMS in various psychiatric, neurological, and addiction disorders are underway. Founded in 2003, with offices in Burlington, MA and Jerusalem, Israel, BrainsWay is committed to increasing global awareness of and broad access to Deep TMS. For the latest news and information about BrainsWay, please visit www.brainsway.com.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. These forward-looking statements and their implications are based on the current expectations of the management of the Company only and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In addition, historical results or conclusions from scientific research and clinical studies do not guarantee that future results would suggest similar conclusions or that historical results referred to herein would be interpreted similarly in light of additional research or otherwise. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: inadequacy of financial resources to meet future capital requirements; changes in technology and market requirements; delays or obstacles in launching and/or successfully completing planned studies and clinical trials; failure to obtain approvals by regulatory agencies on the Company’s anticipated timeframe, or at all; inability to retain or attract key employees whose knowledge is essential to the development of Deep TMS products; unforeseen difficulties with Deep TMS products and processes, and/or inability to develop necessary enhancements; unexpected costs related to Deep TMS products; failure to obtain and maintain adequate protection of the Company’s intellectual property, including intellectual property licensed to the Company; the potential for product liability; changes in legislation and applicable rules and regulations; unfavorable market perception and acceptance of Deep TMS technology; inadequate or delays in reimbursement from third-party payers, including insurance companies and Medicare; inability to commercialize Deep TMS, including internationally, by the Company or through third-party distributors; product development by competitors; inability to timely develop and introduce new technologies, products and applications, which could cause the actual results or performance of the Company to differ materially from those contemplated in such forward-looking statements.

Any forward-looking statement in this press release speaks only as of the date of this press release. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. More detailed information about the risks and uncertainties affecting the Company is contained under the heading “Risk Factors” in the Company’s filings with the U.S. Securities and Exchange Commission.

Contacts:
BrainsWay:
Scott Areglado
SVP and Chief Financial Officer
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Investors:
Bob Yedid
LifeSci Advisors
646-597-6989
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Media Contact:
Meghan Seale Laska
610-212-0125
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