Company announcement, Helsinki, 16 June 2020, at 7.00 pm EET

Nexstim Plc (NXTMH:HEX, NXTMS:STO) (“Nexstim” or “the Company”) announces that the Board of Directors has appointed, effective immediately, the current interim CEO Mikko Karvinen (born in 1976) as permanent CEO and the current interim CFO Joonas Juokslahti (born in 1986) as permanent CFO.

Mikko Karvinen holds a Master in Science (M.S) and an Executive MBA from Aalto University. Karvinen worked as Nexstim’s CFO between August 2014 and 10 February 2020 and as of 11 February 2020 as the interim CEO. Joonas Juokslahti holds a Master in Science (M.S), and he joined Nexstim in May 2014 as Business Controller and has been a key part of the Nexstim finance team acting first as Finance Manager and since 11 February 2020 as the interim CFO.

Leena Niemistö, the Chairman of the Board of Directors, comments as follows: “The Board of Directors of Nexstim wishes to thank Mikko Karvinen and Joonas Juokslahti for their critical contribution in the company’s subscriptions rights issue which ended with excellent results. It is now important – or should I say necessary – to ensure the positive development of the company by making their positions in the management permanent.”

NEXSTIM PLC

Leena Niemistö, Chair of the Board of Directors

Further information is available on the website www.nexstim.com or by contacting:

Leena Niemistö, Chair of the Board of Directors
+358 9 2727 170
leena.niemisto@nexstim.com

Erik Penser Bank AB (Certified Adviser)                                                                                                                                  
+46 8 463 83 00
certifiedadviser@penser.se

About Nexstim Plc

Nexstim is a Finnish medical technology company operating in international markets. Our mission is to enable the individual and efficient diagnosis and treatment of challenging brain diseases and disorders. 

Nexstim has developed a pioneering non-invasive brain stimulation technology entitled SmartFocus®. SmartFocus® is based on transcranial magnetic stimulation (TMS) combined with a 3D navigation system. The unique technology allows the required area of brain to be stimulated accurately and individually.

The SmartFocus® TMS technology is used in NBT® (Navigated Brain Therapy) equipment developed by Nexstim. Marketing and distribution of the equipment for the treatment of serious depression in the USA has been authorised by FDA. NBT® equipment has been CE approved in Europe for the treatment of serious depression and chronic neuropathic pain.

Furthermore, Nexstim is marketing the Navigated Brain Stimulation (NBS) equipment, developed by it and based on   SmartFocus® TMS technology. Nexstim’s NBS system is the only FDA cleared and CE marked navigating TMS equipment for the pre-surgical mapping of the speech and motor cortices of the brain. Nexstim shares are listed on the Nasdaq First North Growth Market Finland and Nasdaq First North Growth Market Sweden trading facilities.

For more information, please visit www.nexstim.com