Noninvasive Deep TMS device has also the potential to treat schizophrenia, obesity, eating disorders, Parkinson’s disease, Alzheimer’s disease, autism and post-traumatic stress disorder.

Brainsway said it has contracted with 18 medical research centers in the US, Canada and Israel, to participate in its multicenter clinical trial and to date, seven have begun patient enrollment.

The multicenter trial is designed to evaluate the efficacy of Deep TMS device in the treatment of biopolar disorder.

Brainsway chief technology officer Ronen Segal said repeating similar positive results to those achieved in initial human experiments in the study would constitute a breakthrough in treating this difficult disorder.

"This study also serves to demonstrate the versatile potential of our Deep TMS technology to change the rules of the game — effectively addressing a number of unmet medical needs in both psychiatry and neurology," Segal added.