BrainsWay Signs Exclusive Distribution Agreement with Gaelan Medical Trade LLC

Following Historic Abraham Accords, Israel’s Deep Transcranial Magnetic Stimulation (Deep TMS) Treatment to Come to the United Arab Emirates

CRESSKILL, N.J. and JERUSALEM, Jan. 25, 2021 (GLOBE NEWSWIRE) -- BrainsWay Ltd. (NASDAQ & TASE: BWAY) (“BrainsWay” or the “Company”), a global leader in the advanced non-invasive treatment of brain disorders, announced an exclusive distribution agreement with Gaelan Medical Trade LLC (“Gaelan”), a leading healthcare company with extensive distribution channels in the United Arab Emirates (UAE). The agreement establishes a multiyear framework whereby BrainsWay will supply its patented, revolutionary Deep Transcranial Magnetic Stimulation (Deep TMS) system, which is currently marketed in various markets for brain disorders including major depressive disorder (MDD) and obsessive-compulsive disorder (OCD), to now be marketed and sold throughout the UAE.

The agreement between BrainsWay and Gaelan, a member of the Dubai-based international conglomerate Ghassan Aboud Group, follows the recent historic diplomatic breakthrough in economic ties established with The Abraham Accords Declaration, which was recently signed between Israel, the UAE, and the United States.

“We are thrilled to build upon the historic momentum achieved with the Abraham Accords by bringing our Deep TMS treatment to those patients suffering from often debilitating disorders such as depression and OCD in this new market,” said Christopher von Jako, Ph.D., President and Chief Executive Officer of BrainsWay. “It is truly a privilege to have this new opportunity to work with Galean in order to expand access to this lifesaving technology.”

“We are pleased to partner with BrainsWay to introduce this noninvasive, clinically-proven treatment to the UAE,” stated Ghassan Aboud, Chairman and founder of the Ghassan Aboud Group. “We are eager to begin distribution of BrainsWay’s important technology to help improve mental health and transform lives.”

About BrainsWay
BrainsWay is a commercial stage medical device company focused on the development and sale of non-invasive neurostimulation products using the Company’s proprietary Deep Transcranial Magnetic Stimulation (Deep TMS) platform technology. The Company received marketing authorization from the U.S. Food and Drug Administration (FDA) for its products for a variety of patient populations, including in 2013 for patients with major depressive disorder (MDD), in 2018 for patients with obsessive-compulsive disorder (OCD), and in 2020 for patients with smoking addiction. BrainsWay is currently conducting clinical trials of Deep TMS in various psychiatric, neurological, and addiction disorders. To learn more, please visit www.brainsway.com.