Novocure Announces 5th Annual AACR-Novocure Grants for Tumor Treating Fields Research Program

Rhea-AI Summary

Novocure (NASDAQ: NVCR) has announced the 5th Annual AACR-Novocure Grants for Tumor Treating Fields Research Program, collaborating with the American Association for Cancer Research. The initiative allocates over $1.5 million in research grants over three years to support innovative studies on Tumor Treating Fields (TTFields) therapy. This includes three grants of $350,000 for independent researchers and one $300,000 Career Development Award aimed at junior faculty. The application deadline is set for May 30, 2023. Novocure seeks to enhance understanding of TTFields mechanisms to improve cancer treatment options.

Positive

• Allocation of over $1.5 million for TTFields research grants over three years.
• Three independent investigator grants of $350,000 each and one junior faculty award of $300,000.
• Encouragement of innovative cancer research, potentially enhancing treatment options.

Negative

• None.

ROOT, Switzerland--(BUSINESS WIRE)-- Novocure (NASDAQ: NVCR) today announced the 5^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) as well as to encourage investigators to enter the TTFields research field.

The program includes research grants and career development awards totaling more than $1.5 million over the next three years. The grants are intended to provide a deeper understanding of the mechanisms of action of TTFields therapy and to accelerate the development of new treatment strategies to advance therapeutic options for cancer.

The research grants will include three AACR-Novocure Cancer Research Grants for independent investigators, each totaling $350,000 over three years, and one AACR-Novocure Career Development Award for Cancer Research for junior faculty members, totaling $300,000 over three years.

“We are proud to continue the AACR-Novocure partnership,” said Mitch Stoller, the AACR’s Chief Philanthropic Officer. “These grant mechanisms support talented investigators and catalyze advances in TTFields research in a unique way. We look forward to welcoming another class of grantees into the program this fall.”

Novocure and the AACR encourage applicants to focus their proposals on studies promoting the transition of in vitro work into in vivo systems, combination therapies involving TTFields, or translational projects bringing treatments involving TTFields into the clinic. The deadline to submit a letter of intent is May 30, 2023.

“We value the opportunity to collaborate with the AACR, the world’s first and largest cancer research organization, to support research on TTFields,” said Moshe Giladi, Novocure’s Chief Science Officer. “As we aspire to make a difference in cancer, we believe TTFields therapy is a platform with game-changing potential. By deepening our understanding of the mechanisms of action behind TTFields, we hope to accelerate discovery that will allow us to help more patients around the world.”

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

About Tumor Treating Fields Therapy

Tumor Treating Fields (TTFields) are electric fields that exert physical forces to kill cancer cells via a variety of mechanisms. TTFields do not significantly affect healthy cells because they have different properties (including division rate, morphology, and electrical properties) than cancer cells. The multiple, distinct mechanisms of TTFields therapy work together to selectively target and kill cancer cells. Due to its multimechanistic actions, TTFields therapy can be added to cancer treatment modalities in approved indications and demonstrates enhanced effects across solid tumor types when used with chemotherapy, radiotherapy, immune checkpoint inhibition, or PARP inhibition in preclinical models. TTFields therapy provides clinical versatility that has the potential to help address treatment challenges across a range of solid tumors. To learn more about Tumor Treating Fields therapy and its multifaceted effect on cancer cells, visit tumortreatingfields.com.

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, malignant pleural mesothelioma and pleural mesothelioma. Novocure has ongoing or completed clinical studies investigating Tumor Treating Fields in brain metastases, gastric cancer, glioblastoma, liver cancer, non-small cell lung cancer, pancreatic cancer and ovarian cancer.

Headquartered in Root, Switzerland and with a growing global footprint, Novocure has regional operating centers in 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 study 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 23, 2023, and subsequent flings 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.

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Source: Novocure