24 Jul Can a magnetic helmet heal the brain? These innovative corporations think so:
Can a magnetic helmet heal the brain? These innovative corporations think so:
Transcranial magnetic stimulation (TMS) (wearing a helmet and having magnetic pulses delivered to specific areas of the brain) has been a Food and Drug Administration (FDA) approved treatment for a variety of psychological and neurological indications:
TMS has been FDA approved for treatment of Major Depression since 2007. It is normal to feel sad from time to time, but depression is different. It is a loss of ability to experience any pleasure and a loss of motivation that becomes disabling. It will strike up to 20% of people at some time in their lives.
In 2013, the FDA also approved TMS for treatment of certain types of migraine headaches (those preceded by an aura (visual disturbances). About 12% of people suffer from migraine headaches and about a third of those have auras.
In 2018, TMS was approved by the FDA for treatment of obsessive compulsive disorder (OCD). People who suffer from OCD have recurring thoughts, which they cannot dispel, and recurring urges to repeat behaviors, which they cannot resist. About 2% of the population will suffer from OCD at some point during their lives.
In 2020, TMS was approved for the treatment of smoking addiction. Up to 20% of people in the developed world are smokers, more than half of whom are trying to quit.
In 2021, The FDA granted Breakthrough Device Certification for a device that works somewhat differently. The device, manufactured by a company called BrainQ, improves recovery after stroke or brain injury. It uses machine learning AI (artificial intelligence) algorithms to evaluate EEG (electroencephalogram) after a patient has suffered a stroke or traumatic brain injury. Like TMS, it delivers magnetic energy, but at a much lower energy. The treatment aims to reprogram the damaged area of the brain by taking advantage of the brain’s innate neuroplasticity (ability to rewire neuronal (brain cell) circuitry).
In the USA, many insurers will pay for some or all of the above indications.
Outside the USA the devices are approved for a wider variety of purposes. Bipolar disorder, Post traumatic stress disorder, schizophrenia, Alzheimer’s disease, Autism, Chronic Pain, Multiple Sclerosis, Parkinson’s Disease, Post stroke rehabilitation.
Investors may be interested in companies that manufacture devices which deliver TMS.
Neuronetics produces a TMS machine called NeuroStar. It is being marketed to treat Depression. It trades on nasdaq as STIM. Its Market Cap in July, 2021 is $350 million.
Greenbrook produces a TMS machine. It is being marketed for Depression, OCD and smoking. It is a Canadian company and trades on NASDAQ as GBNH. Its Market Cap in July 2021 is $195 million.
Brainsway produces a TMS machine called DeepTMS. It is being marketed for all of the above indications (Depression, OCD and smoking in the USA and worldwide and other indications worldwide outside the USA). It is an Israeli company, whose ADR trades on NASDAQ as BWAY. Its Market Cap in July 2021 is $152 million.
Magstim produces a family of TMS based devices. It is being marketed to treat depression. It is a privately held company in the UK.
Brain Ultimate produces a family of TMS based devices. It is being marketed to treat depression and research a host of other neurological maladies. It is a privately held company in China.
MagVenture produces a family of TMS based devices. It is being marketed to treat depression and OCD. It is a privately held company in Denmark.
eNeura produces a TMS machine called SpringTMS or Cerena. It is being marketed to treat Migraine. It is a privately held company in the USA.
Neuroprex is a privately held American company that is marketing a TMS machine for depression and other neurological ailments.
Axilum produces a robotic device to administer TMS. The company is based in France and its capital is held by several individuals and other companies.
Cloud Neuro LLC produces a TMS device called Cloud TMS that is designed to be portable. It is being marketed to treat depression. It is a privately held multinational corporation.
Nexstim produces a machine called SmartFocus TMS. It is being marketed for the treatment of depression and pain. It is a Finnish company whose shares trade in Stockholm and Helsinki.
Mag & More produces the Apollo machine to deliver TMS. It is being marketed for the treatment of depression, pain, tinnitus, incontinence, paresis, migraine, stroke, schizophrenia and anxiety. It is a privately held German company.
Neurosoft manufactures the Neuro-MSX machine to deliver TMS. It is being marketed for the treatment of depression. It is a privately held Russian company.
Salience manufactures the Star*D machine to deliver TMS. It is being marketed for the treatment of depression. It is a privately held American company.
BrainQ is an Iraeli startup. In the summer of 2021 the company raised $40 million to take it’s device to market.