Novocure Announces 4th Annual AACR-Novocure Grants for Tumor Treating Fields Research Program

Rhea-AI Summary

Novocure (NASDAQ: NVCR) announced the 4th Annual AACR-Novocure Grants for Tumor Treating Fields Research Program, totaling over $2 million in grants and awards over three years. This program, in collaboration with the American Association for Cancer Research (AACR), will fund five research grants of $250,000 each and two career development awards of $225,000 each. The focus is on innovative TTFields research to enhance treatment strategies. The application deadline is January 20, with winners announced at the AACR Annual Meeting in April.

Positive

• Total funding of over $2 million for TTFields research over three years.
• Partnership with AACR enhances credibility and outreach in cancer research.

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• None.

ST. HELIER, Jersey--(BUSINESS WIRE)-- Novocure (NASDAQ: NVCR) today announced the 4^th Annual AACR-Novocure Grants for Tumor Treating Fields Research Program. The program represents a joint effort with the American Association for Cancer Research (AACR) to promote and support innovative research on Tumor Treating Fields (TTFields) to help deepen the understanding of the mechanism of action and to accelerate the development of new treatment strategies. The program includes research grants and career development awards totaling more than $2 million over the next three years.

The research grants will include five AACR-Novocure Tumor Treating Fields Research Grants and two AACR-Novocure Career Development Awards for Tumor Treating Fields Research. Recipients of the research grants will receive a total of $250,000 over two years. Recipients of the career development awards will receive a total of $225,000 over three years.

“We are thrilled to continue our partnership with Novocure,” said Mitch Stoller, the AACR’s Chief Philanthropic Officer. “These two grant mechanisms represent an important means for advancing the science of TTFields research and attracting talented investigators. We once again look forward to learning about the outstanding projects that will result from these grants and to meeting next year’s class of grantees.”

Novocure and the AACR encourage applicants to focus their proposals on translational approaches, promoting the transition of in vitro work into in vivo systems; combination therapies involving Tumor Treating Fields; and bringing treatments involving Tumor Treating Fields to the clinic. The application deadline is January 20. Recipients will be announced in April at the AACR Annual Meeting 2022 in New Orleans.

“Deepening our understanding of the mechanism of action of Tumor Treating Fields can potentially advance our efforts to extend survival in some of the most aggressive forms of cancer,” said Dr. Uri Weinberg, Novocure’s Chief Science Officer. “We are excited to partner with the AACR to offer this innovative research program for the fourth year and look forward to the announcement of recipients at the AACR Annual Meeting.”

To apply for the AACR-Novocure Grants for Tumor Treating Fields Research, visit www.aacr.org/funding.

About Tumor Treating Fields

Tumor Treating Fields, or TTFields, are electric fields that disrupt cancer cell division. Fundamental scientific research on TTFields extends across more than two decades and, in all preclinical research to date, TTFields have demonstrated a consistent anti-mitotic effect. TTFields therapy is intended principally for use together with other standard-of-care cancer treatments. There is a growing body of evidence that supports TTFields’ broad applicability with certain other cancer therapies, including radiation therapy, certain chemotherapies and certain immunotherapies. In clinical research and commercial experience to date, TTFields therapy has exhibited no systemic toxicity, with mild to moderate skin irritation being the most common side effect. The TTFields global development program includes a network of preclinical collaborators and a broad range of clinical trials across all phases, including four phase 3 pivotal trials in a variety of tumor types. To date, more than 20,000 patients have been treated with TTFields therapy.

About Novocure

Novocure is a global oncology company working to extend survival in some of the most aggressive forms of cancer through the development and commercialization of its innovative therapy, Tumor Treating Fields. Novocure’s commercialized products are approved in certain countries for the treatment of adult patients with glioblastoma and in the U.S. for the treatment of adult patients with malignant pleural mesothelioma. Novocure has ongoing or completed clinical trials investigating Tumor Treating Fields in brain metastases, gastric cancer, glioblastoma, liver cancer, non-small cell lung cancer, pancreatic cancer and ovarian cancer.

Headquartered in Jersey, and with a growing global footprint, Novocure has regional operating centers in Root, Switzerland, Portsmouth, New Hampshire and Tokyo, as well as a research center in Haifa, Israel. For additional information about the company, please visit Novocure.com and follow @Novocure on LinkedIn and Twitter.

Forward-Looking Statements

In addition to historical facts or statements of current condition, this press release may contain forward-looking statements. Forward-looking statements provide Novocure’s current expectations or forecasts of future events. These may include statements regarding anticipated scientific progress on its research programs, clinical trial progress, development of potential products, interpretation of clinical results, prospects for regulatory approval, manufacturing development and capabilities, market prospects for its products, coverage, collections from third-party payers and other statements regarding matters that are not historical facts. You may identify some of these forward-looking statements by the use of words in the statements such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe” or other words and terms of similar meaning. Novocure’s performance and financial results could differ materially from those reflected in these forward-looking statements due to general financial, economic, environmental, regulatory and political conditions as well as issues arising from the COVID-19 pandemic and other more specific risks and uncertainties facing Novocure such as those set forth in its Annual Report on Form 10-K filed on February 25, 2021 with the U.S. Securities and Exchange Commission. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore, you should not rely on any such factors or forward-looking statements. Furthermore, Novocure does not intend to update publicly any forward-looking statement, except as required by law. Any forward-looking statements herein speak only as of the date hereof. The Private Securities Litigation Reform Act of 1995 permits this discussion.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211206005151/en/

Investors:

Ingrid Goldberg

investorinfo@novocure.com

610-723-7427



Media:

Leigh Labrie

media@novocure.com

610-723-7428

Source: Novocure

FAQ

What are the AACR-Novocure Grants for Tumor Treating Fields Research?

The AACR-Novocure Grants support innovative TTFields research, providing over $2 million in funding for projects focused on cancer treatment.

When is the application deadline for the AACR-Novocure Grants?

The application deadline for the AACR-Novocure Grants is January 20.

How much funding do recipients of the AACR-Novocure Grants receive?

Recipients of the research grants will receive $250,000 over two years, and career development award winners will receive $225,000 over three years.

When will the AACR-Novocure Grant recipients be announced?

The recipients will be announced at the AACR Annual Meeting in April.

What is the focus of the AACR-Novocure Grants?

The grants encourage research on TTFields, emphasizing translational approaches and combination therapies.