Brain therapy system developer Nexstim said late last month it won expanded CE Mark approval in the European Union for its Navigated Brain Therapy system, now cleared for the relief of chronic neuropathic pain.
The NBT system uses navigated transcranial magnetic stimulation to treat exact areas in the brain using a 3D image rendered from a patients MRI scan, and has existing clearances for treating major depression and for use in stroke rehabilitation therapy.
“Chronic neuropathic pain is a debilitating condition worldwide with few effective therapeutic options. With our NBT technology we have the potential to make a significant difference and we look forward to further expanding applications for Nexstim’s leading technology and software into pain, and to potentially commencing commercialisation in due course,” CEO Martin Jamieson said in a press release.
The company said that neuropathic pain affects 6-7% of the general population and is estimated to affect more than 6 million people across major pharmaceutical markets in the U.S., Japan, France, Germany, Italy, Spain and the U.K. Current therapies for treating neuropathic pain return a 30-40% rate of self-reported satisfactory pain release, the company said, and the market is expected to reach $3.6 billion by 2020.
The company said the new clearance for the device will not have a significant financial impact on the company during the current fiscal year, and that it is currently reviewing a plan for potential commercialization.