Neuronetics Announces Retirement of Brian Farley and Appointment of Robert Cascella as Chairman of its Board of Directors
April 14 2021 - 5:15PM
Neuronetics, Inc. (NASDAQ: STIM), a commercial stage medical
technology company focused on designing, developing and marketing
products that improve the quality of life for patients who suffer
from psychiatric disorders, today announced that Brian Farley will
retire from the Neuronetics’ Board of Directors and his role as
Chairman following the company’s Annual Meeting of Stockholders on
May 27, 2021. Robert Cascella, who joined the Board of Directors on
April 1, 2021, will be appointed as Chairman of its Board of
Directors following Mr. Farley’s retirement. Following Mr. Farley’s
retirement, the Board of Directors will have seven members.
“On behalf of the entire organization, I would like to express
our deep gratitude to Brian for his 11 years of service with our
company, during which time he played an integral role in
commercializing NeuroStar Advanced Therapy for Mental Health and
solidifying our position as the leading provider of non-drug
therapies for patients suffering from drug-resistant mental health
conditions,” said Keith Sullivan, President and Chief Executive
Officer of Neuronetics, Inc. “We wish Brian and his family all the
best following his retirement. I appreciate Rob stepping into the
Chairman role and look forward to working with him in this new
capacity.”
Mr. Farley has served on the Company’s Board since 2009, and as
Chairman of the Board since 2011. “I’ve had a wonderful run at
Neuronetics and am deeply honored to be part of an organization
that has brought relief to so many people suffering from MDD. I
have tremendous confidence in the company’s leadership and the
current business trajectory. I will look forward to watching the
company’s continued success,” said Mr. Farley.
About Neuronetics
Neuronetics, Inc. is a commercial-stage medical technology
company focused on designing, developing, and marketing products
that improve the quality of life for patients who suffer from
psychiatric disorders. Its commercial product, the NeuroStar®
Advanced Therapy System, is a non-invasive and non-systemic
office-based treatment that uses transcranial magnetic stimulation,
or TMS, to create a pulsed, MRI-strength magnetic field that
induces electrical currents designed to stimulate specific areas of
the brain associated with mood. The system is cleared by the United
States Food and Drug Administration, or FDA, for the treatment of
major depressive disorder in adult patients who have failed to
achieve satisfactory improvement from prior antidepressant
medication in the current episode. NeuroStar is also available in
other parts of the world, including Japan, where it is listed under
Japan’s national health insurance. Additional information can be
found at www.neuronetics.com.
Investor Contact:
Mike Vallie or Mark Klausner Westwicke Partners 443-213-0499
ir@neuronetics.com
Media Contact:
Chelsey MankoVault
Communications610-455-2778cmanko@vaultcommunications.com
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