Novocure Announces Creation of U.S. CNS Cancers Franchise Intended to Renew Focus on Growth in Glioblastoma Business

Rhea-AI Summary

Novocure has established a dedicated U.S. CNS Cancers Franchise to enhance its glioblastoma (GBM) business. Frank Leonard, previously Chief Development Officer, has been appointed President of this new unit. The organization aims to improve resource allocation and streamline decisions across the U.S. CNS operations, focusing on delivering Tumor Treating Fields therapy to more GBM patients. CEO Asaf Danziger expressed confidence in Leonard’s leadership and the company’s ongoing mission to extend survival for aggressive cancer types.

Positive

• Creation of a dedicated U.S. CNS Cancers Franchise to enhance focus on glioblastoma business.
• Appointment of experienced leader Frank Leonard as President of U.S. CNS Cancers.

Negative

• None.

Frank Leonard is appointed President, CNS Cancers U.S. 

ROOT, Switzerland--(BUSINESS WIRE)-- Novocure (NASDAQ: NVCR) today announced the creation of its U.S. CNS (central nervous system) Cancers Franchise. This new organization will add resources, streamline decision-making and improve coordination across Novocure’s U.S. CNS business, and is intended to renew focus on growth in Novocure’s glioblastoma (GBM) business.

Frank Leonard, who served as Novocure’s Chief Development Officer since 2020, is named President, CNS Cancers U.S., effective September 19, 2022. Mr. Leonard will be responsible for the entirety of the U.S. CNS business including U.S. GBM Sales and Marketing, Regional Marketing, Learning & Development, Maxpoint, Government Affairs and U.S. CNS Medical teams. Pritesh Shah, Novocure’s Chief Commercial Officer, will retain responsibility for global commercial strategy and brand management, the EMEA and APAC regions and future indications.

“I am very pleased with the creation of the U.S. CNS Cancers Franchise, specifically focused on delivering Tumor Treating Fields therapy to additional GBM patients,” said Asaf Danziger, Novocure’s Chief Executive Officer. “Frank has been a tremendously successful business leader throughout his tenure at Novocure, always driving teams to produce impactful results. I look forward to Frank’s dedicated focus on GBM and CNS cancers and to our company’s continued pursuit of extending survival in some of the most aggressive forms of cancer.”

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 malignant 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 24, 2022, 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/20220921005432/en/

Investors:

Ingrid Goldberg

investorinfo@novocure.com

610-723-7427

Media:

Leigh Labrie

media@novocure.com

610-723-7428

Source: Novocure

FAQ

What is the new U.S. CNS Cancers Franchise by Novocure?

The U.S. CNS Cancers Franchise is a newly created organization focused on enhancing Novocure's glioblastoma business and coordinating its CNS cancer operations.

Who is leading the U.S. CNS Cancers Franchise at Novocure?

Frank Leonard has been appointed as the President of the U.S. CNS Cancers Franchise.

When was the U.S. CNS Cancers Franchise announced by Novocure?

The U.S. CNS Cancers Franchise was announced on September 19, 2022.

What therapy is Novocure focusing on for CNS cancers?

Novocure is focusing on delivering Tumor Treating Fields therapy to patients with glioblastoma.

How does Novocure plan to improve its glioblastoma business?

Novocure aims to streamline decision-making and enhance resource allocation through the new U.S. CNS Cancers Franchise.