Nexstim Plc receives R&D loan from Business Finland
Helsinki, Finland: 23 January 2018 – Nexstim Plc (NXTMH:HEX, NXTMS:STO), a medical technology company developing and marketing pioneering navigated non-invasive brain stimulation systems for both therapeutic and diagnostic applications, announces that Business Finland has granted the company an R&D loan amounting to approximately € 1 million for the development of a next-generation user interface (GUI) for the Navigated Brain Therapy (NBT®) System indicated for the treatment of Major Depressive Disorder (MDD) and chronic neuropathic pain. To enable extensive therapeutic use of the NBT® System, the project is a major part of Nexstim’s commercialisation process of its therapeutic products.
The loan is unsecured, and the interest rate is three percentage points below the base interest rate, or at least one percent. The loan period is seven years and the three first three years are amortisation-free. The loan will be repaid in annual instalments.
More info on Nexstim‘s website.