Brainsway raises NIS 33m. in IPO

Potential applications for Brainsway's Transcranial Magnetic Stimulation System include addiction, schizophrenia, obesity, eating disorders, Parkinson's disease, Alzheimer's disease, autism and post-traumatic stress disorder.

Brainsway, a biomedical developer of non-invasive medical devices for the treatment of neurological disorders finished the second phase of its initial public offering on the Tel Aviv Stock Exchange Monday, raising NIS 33 million from the sale of shares and warrants. The public offering was oversubscribed by 28% of the maximum price and followed an institutional offering last week in which the company sold 80% of its offerings. Potential applications for Brainsway's Transcranial Magnetic Stimulation System include addiction, schizophrenia, obesity, eating disorders, Parkinson's disease, Alzheimer's disease, autism and post-traumatic stress disorder.