Over 450 million individuals face depression, with over 800,000 suicide deaths per year, delivering a death rate of one person every 40 seconds. These figures are set to increase as estimates put 1 out of 4 individuals in the future to face similar mental disorders at some stage of life.
NPX-101 is the first product line for treating moderate to severe depression, especially the 30% of patients who are currently drug-resistant. It is a patented non-invasive bioelectronic device that delivers Transcranial Magnetic Stimulation (TMS) in the form of a wearable Magnetic Resonance Imaging (MRI) helmet with shield protection. It delivers more precise and deeper energy stimulation, for fuller more effective therapy, removing the side-effects and other treament discomforts with current day treatment. Phase 1 of the SME instrument fits into the overall company plan of NeuroPrex and Omsbar to reach the market by contributing the financial resources needed to plan a fast sound wider deployment of the NPX-101. It would importantly help to deduce the quickest routes of distribution and market uptake for its entry-point of the U.K.