Neuronetics, Inc. Partners with Teijin Pharma Limited, a Leading Healthcare Company in Japan, to Distribute NeuroStar Advanced Therapy
Partnership expands access to transformative, non-drug depression treatment to millions
MALVERN, Pa., Oct. 16, 2017 /PRNewswire/ — Neuronetics, Inc., a privately held medical device company widely recognized as the market-leader in transcranial magnetic stimulation (TMS), announced today it has entered into an exclusive distribution agreement with Teijin Pharma Limited, the core company of the Teijin Group’s healthcare business. The agreement follows the medical device company’s recent Shonin approval to sell and distribute its NeuroStar® Advanced Therapy system in Japan.
Approximately 3 million people in Japan are diagnosed with Major Depressive Disorder (MDD). Providing this population access to an innovative, Shonin-approved, non-drug depression treatment, Neuronetics will work closely with Teijin Pharma Limited to provide sales, marketing and clinical support to medical institutions throughout Japan as they adopt NeuroStar Advanced Therapy, a safe and effective, non-invasive depression treatment.
“Our distribution partnership with Teijin Pharma Limited, a leading Japanese healthcare company, will enable us to rapidly scale up delivery of NeuroStar Advanced Therapy in the world’s second largest medical device market,” said Chris Thatcher, CEO of Neuronetics, Inc. “Not only does this alliance further extend Neuronetics’ footprint in the medical device space, it underscores our continued efforts to increase patient access and help the millions of people worldwide suffering from depression with NeuroStar therapy.”
With more than 1.5 million treatments delivered to date worldwide, NeuroStar Advanced Therapy is a proven breakthrough treatment that has helped approximately 60,000 patients worldwide who have not been able to find relief from their depression. Unlike electroconvulsive therapy (ECT), the non-invasive treatment uses MRI strength magnetic pulses to stimulate areas of the brain that are underactive in depression, resulting in 37 percent of patients achieving complete remission of their depression symptoms.
Neuronetics’ expansion into Japan marks the country’s first Shonin-approved TMS device for MDD and aligns with its mission to transform neurohealth. The partnership also meets Teijin Pharma Limited’s goal to improve the quality of life for patients with highly unmet medical needs in fields such as psychiatry.
In addition to its recent expansion into Japan, the NeuroStar Advanced Therapy device is commercially available in the United States of America as well as the Middle East and Asia regions. NeuroStar Advanced Therapy is also CE marked.
Visit www.NeuroStar.com for more information about NeuroStar Advanced Therapy.
About Neuronetics, Inc.
Neuronetics, Inc. is a privately held medical device company focused on developing non-invasive therapies for psychiatric and neurological disorders using MRI-strength magnetic field pulses. Based in Malvern, PA, Neuronetics, Inc. is the leader in transcranial magnetic stimulation (TMS) with its development of NeuroStar® Advanced Therapy, a noninvasive form of neuromodulation. For more information, please visit www.neurostar.com.
NeuroStar® is a registered trademark of Neuronetics, Inc.
About NeuroStar® Advanced Therapy
NeuroStar® Advanced Therapy is the established leader in transcranial magnetic stimulation (TMS), a non-invasive form of neuromodulation. NeuroStar Advanced Therapy is the #1 physician-preferred TMS treatment for patients with MDD, and there are over 800 NeuroStar systems in 49 states in the United States.
With over 300 million covered lives, NeuroStar is widely reimbursed by most United Statescommercial and government health plans, including Medicare and Tricare. In addition, there are programs in place, such as NeuroStar Reimbursement Support, to help U.S. patients and providers obtain coverage and reimbursement for NeuroStar Advanced Therapy.
In the United States, NeuroStar Advanced Therapy is indicated for the treatment of MDD in adult patients who have failed to receive satisfactory improvement from prior antidepressant medication in the current episode. In an NIMH-funded, independent, randomized controlled trial, patients treated with TMS using a clinical-trial version of the NeuroStar TMS System were four times more likely to achieve remission compared to patients receiving sham treatment (P = 0.0173; odds ratio = 4.05).  The most common side effect is pain or discomfort at or near the treatment site, which usually resolves within one week. It is contraindicated in people with non-removable conductive metal in or near the head.
For more information and full safety and prescribing information, visit www.neurostar.com.
About the Teijin Group
Teijin (TSE: 3401) is a technology-driven global group offering advanced solutions in the areas of environmental value; safety, security and disaster mitigation; and demographic change and increased health consciousness. Its main fields of operation are high-performance fibers such as aramid, carbon fibers & composites, healthcare, films, resin & plastic processing, polyester fibers, products converting and IT. The group has some 170 companies and around 19,000 employees spread out over 20 countries worldwide. It posted consolidated sales of JPY741.3 billion (USD 6.5 billion) and total assets of JPY 964.1 billion (USD 8.5 billion) in the fiscal year ending >March 31, 2017. Please visit www.teijin.com
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SOURCE NeuroStar Advanced Therapy