BrainsWay Ltd. completed an additional $6 million milestone-based convertible loan to Neurolief Ltd., triggered by FDA Premarket Approval of Neurolief's Proliv™ Rx system for treatment-resistant major depressive disorder, bringing total investment to $11 million. The strategic agreement includes potential further $5 million equity tranche and a call option to acquire Neurolief.
Key takeaways
BrainsWay completed $6 million second tranche convertible loan to Neurolief on March 26, 2026
Investment triggered by FDA PMA for Proliv™ Rx for MDD in adults failing at least one antidepressant
Total BrainsWay investment in Neurolief to date: $11 million
Potential third tranche: up to $5 million equity upon revenue-based target
BrainsWay holds call option to acquire all Neurolief equity at greater of specified enterprise value or revenue multiple
Neurolief expanded Proliv™ Rx and Relivion® MG access via Veterans Affairs Federal Supply Schedule