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
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
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.