BrainsWay Ltd. announced on August 21, 2025, a strategic investment in Neurolief Ltd., a developer of wearable, non-invasive neuromodulation platforms for at-home use. BrainsWay closed an initial $5 million convertible loan to Neurolief, which includes an option to acquire the company. This investment marks BrainsWay’s entrance into the market for mental health therapies administered outside of a clinic.
Neurolief’s Proliv™ Rx device is currently pending Premarket Approval from the U.S. FDA for Major Depressive Disorder (MDD) treatment. If approved, Proliv™ Rx would be the first FDA-cleared medical device for MDD treatment deliverable outside the clinic, significantly expanding the addressable market. The agreement also provides for additional milestone-based funding, including up to a $6 million convertible loan upon FDA approval and up to a $5 million equity investment upon a revenue milestone.
BrainsWay's CEO, Hadar Levy, emphasized that this technology will expand the company's addressable market by enabling care for patients who cannot easily access clinics. This strategic move aligns with BrainsWay's goal of accelerating access to innovative mental health treatments and exploring synergies between the two companies. The call option to acquire Neurolief further positions BrainsWay for long-term market expansion.
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