Neuronetics Prepares for Market Launch of New Depression Therapy; Hires Peter Anastasiou as Vice President, Marketing
MALVERN, Pa., April 10 /PRNewswire/ -- 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 Therapy(TM) 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(R), 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(R), 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 http://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., respectively.
SOURCE Neuronetics, Inc.
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