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Neuronetics Prepares for Market Launch of New Depression Therapy; Hires
Peter Anastasiou as Vice President, Marketing
Twenty sites conduct clinical research trials on investigational, non-medication approach to treat depression.
MALVERN, PA – April 10, 2006 – Neuronetics, Inc., a privately held medical
device company and developer of therapeutic neuromodulation technology for
depression, today announced that Mr. Peter Anastasiou has joined as Vice
President, Marketing. Mr. Anastasiou will lead the Company’s efforts to bring its
therapeutic Transcranial Magnetic Stimulation (TMS) technology to market.
Neuronetics’ TMS TherapyTM is a non-invasive treatment for depression. It uses
highly focused, pulsed magnetic fields to restore function in brain regions
believed to be linked to depression. TMS Therapy is an outpatient procedure
performed in a physician’s office in about 30 minutes daily for several
consecutive weeks.
Neuronetics recently completed a randomized, placebo controlled clinical trial at
23 leading clinical research institutions throughout the U.S., Canada and
Australia. It tested the efficacy and safety of TMS Therapy on more than 300
patients suffering from major depression who had not benefited from
antidepressant medication therapy. The trial results will be presented at the
American Psychiatric Association Meeting in Toronto, Canada on May 23, 2006.
The selection of Mr. Anastasiou as Vice President of Marketing is a critical step in
preparing Neuronetics for launching its TMS Therapy product line following
regulatory clearance. He will lead a marketing team that works closely with
psychiatrists using this advanced new therapy.
“Peter brings a wealth of experience in marketing antidepressants and detailed
knowledge of our key customers--- psychiatrists,” said Bruce J. Shook, President
and CEO of Neuronetics. “His leadership and experience will be a tremendous asset
as we work to make TMS Therapy available for people struggling with major depression.”
"Depression afflicts nearly 20 million Americans annually and is a growing
problem,” said Mr. Anastasiou. “I firmly believe TMS Therapy can help a
significant number of them and am excited about helping make it widely
available.”
Mr. Anastasiou joins Neuronetics from Bristol-Myers Squibb where he spent
three years and was a Director of the U.S. Marketing Team for Abilify®, a leading
antipsychotic medication. Prior to BMS, Mr. Anastasiou was at Eli Lilly for 11
years where his responsibilities included the market preparations for the launch
of Cymbalta®, Lilly’s latest entry into the antidepressant marketplace. He earned
an MBA degree from Indiana University and an undergraduate degree in
Economics and Management from Albion College.
About Neuronetics, Inc.
Neuronetics, Inc. is a privately held medical device company focused on
developing therapies for psychiatric and neurological disorders by using the
energy in magnetic fields. Based in Malvern, PA., Neuronetics is the leader in
the development of TMS Therapy, a completely non-invasive form of
neuromodulation. For more information, visit www.neuronetics.com.
TMS Therapy is investigational and is not yet commercially available in the U.S.
TMS Therapy is a trademark of Neuronetics, Inc.
Abilify and Cymbalta are registered trademarks of Otsuka Pharmaceutical Co, Ltd and Eli Lilly & Co.,
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