Neuronetics Settles Litigation Against BrainsWay

Neuronetics, Inc

MALVERN, PA — Neuronetics, Inc. (NASDAQ: STIM) this week announced that it has settled the litigation filed in the District of Delaware against BrainsWay Ltd. and BrainsWay USA Inc. for unfair competition under the Lanham Act and state law.

Under the terms of the settlement, BrainsWay agreed to stop the use of the efficacy data for the treatment of anxious depression with NeuroStar® Advanced Therapy for Mental Health that was at issue in the Complaint filed by Neuronetics.

“As I said at the outset of this litigation, Neuronetics will vigorously defend our data and the efficacy of NeuroStar® Advanced Therapy for Mental Health,” said Keith J. Sullivan, President and Chief Executive Officer. The parties have agreed to keep the additional terms of the settlement agreement confidential.

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