Neuronetics is a privately held company developing non-invasive treatments for depression and other chronic psychiatric and neurological disorders based upon neuromodulation technology. On September 1, 2010, the World Economic Forum announced the company as a Technology Pioneer for 2011. Neuronetics' first product, the NeuroStar TMS Therapy System is designed to non-invasively stimulate the brain using highly focused MRI-strength magnetic pulses, or transcranial magnetic stimulation (TMS). NeuroStar delivers therapy that is highly targeted, involving a brain region that is thought to be involved in depression. NeuroStar TMS Therapy is prescribed by a psychiatrist and is delivered in an outpatient setting. The patient sits in the chair and undergoes 40-minute sessions over the course of four to six weeks.