Novocure Announces Addition to Its Board of Directors

Rhea-AI Summary

Novocure (NASDAQ: NVCR) has appointed Timothy J. Scannell to its board of directors as of February 5. Scannell, currently the President and COO of Stryker Corporation, brings extensive experience in medical technology. His expertise is expected to enhance Novocure's product development and drive innovation. Scannell will also serve on the Nominating and Corporate Governance Committee. Novocure focuses on advancing Tumor Treating Fields, a therapy for aggressive cancers, and has ongoing trials for various cancer types.

Positive

• Timothy J. Scannell's appointment is expected to provide valuable guidance and strengthen the board's expertise.
• Scannell's extensive background in medical technology may enhance product development and innovation at Novocure.

Negative

• None.

Novocure (NASDAQ: NVCR) has announced an addition to its board of directors. Timothy J. Scannell, an experienced executive leader, was elected to Novocure’s board on Feb. 5.

“We are extremely pleased to welcome Tim to our board of directors,” said Bill Doyle, Novocure’s Executive Chairman. “His extensive and impressive background at Stryker, one of the world’s leading medical technology companies, will provide invaluable guidance as we advance product development and prepare for an anticipated period of significant innovation and growth.”

Mr. Scannell is currently President and Chief Operating Officer of Stryker Corporation where he is responsible for all of Stryker’s operating businesses and regions, a position he has held since August 2018. Prior to this position, he served as Group President of Stryker’s MedSurg and Neurotechnology group from 2009 to 2018. He also serves on the board of directors for Insulet Corporation. Mr. Scannell holds bachelor’s and master’s degrees in business administration from the University of Notre Dame.

Mr. Scannell has been appointed to the Nominating and Corporate Governance Committee of the Board, effective upon his election to the board.

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. Tumor Treating Fields is a cancer therapy that uses electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Novocure’s commercialized products are approved for the treatment of adult patients with glioblastoma and malignant pleural mesothelioma. Novocure has ongoing or completed clinical trials investigating Tumor Treating Fields in brain metastases, non-small cell lung cancer, pancreatic cancer, ovarian cancer and liver cancer.

Headquartered in Jersey, Novocure has U.S. operations in Portsmouth, New Hampshire, Malvern, Pennsylvania and New York City. Additionally, the company has offices in Germany, Switzerland, Japan and Israel. For additional information about the company, please visit www.novocure.com or follow us at www.twitter.com/novocure.

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, 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 27, 2020 and its Quarterly Report on Form 10-Q filed on April 30, 2020, as amended to date, 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/20210208005822/en/

FAQ

Who is Timothy J. Scannell and what role has he taken at Novocure?

Timothy J. Scannell has been appointed to Novocure's board of directors as of February 5. He is currently the President and COO of Stryker Corporation.

What experience does Timothy J. Scannell bring to Novocure?

Scannell has extensive experience in medical technology, previously serving as Group President at Stryker, which is beneficial for Novocure's product development.

What committees will Timothy J. Scannell serve on at Novocure?

He will serve on the Nominating and Corporate Governance Committee of the Board, effective upon his election.

What is Novocure's main product focus?

Novocure develops Tumor Treating Fields, a therapy aimed at treating aggressive forms of cancer.

What ongoing clinical trials is Novocure currently conducting?

Novocure has ongoing trials investigating Tumor Treating Fields in brain metastases, non-small cell lung cancer, pancreatic cancer, ovarian cancer, and liver cancer.