NovoCure, Ltd., a privately held medical device company focused on developing the Novo-TTF device, a non-invasive portable medical device for the treatment of cancer, announced the completion of a new funding round today. Key investors in this round included Pfizer Inc, Johnson & Johnson Development Corporation and Index Ventures. "We are very pleased that Pfizer, Johnson & Johnson Development Corporation and Index have taken an interest in the work we're doing with the Novo-TTF device," said William Doyle, Chairman of the Board of NovoCure. "The proceeds from their investment will be used to fund NovoCure's newly-diagnosed GBM pivotal clinical trial."
"The NovoCure TTF therapy is a completely novel approach to fighting cancer," said Bill Burkoth, Director of Pfizer Ventures. "Pilot clinical trials suggest that TTF therapy plus chemotherapy has the potential to significantly improve patient survival.
This investment aligns with Pfizer's goal to help oncology patients live longer, healthier lives."
The Novo-TTF device is a unique cancer treatment that uses specially tuned, low intensity electrical fields (Tumor Treating Fields or TTFields) to disrupt cell division. Rapidly dividing cancerous cells are affected by the TTFields , causing them to either break apart or not divide properly, while healthy, non-dividing cells are not affected, yielding a targeted treatment with minimal side effects. The fields are applied to the tumor region using non-invasive, insulated electrodes placed on a patient's skin. The electrodes, which look like bandages, are attached by wires to a battery operated, portable device that generates the fields.
INITIATION OF CLINICAL TRIAL FOR NEWLY DIAGNOSED GBM
The Novo-TTF device has been tested in more than 175 patients with various types of cancers including recurrent and newly-diagnosed glioblastoma multiforme (GBM), breast cancer and lung cancer.
NovoCure recently completed enrollment of a 236-patient, multi-center, randomized Pivotal clinical trial studying the safety and efficacy of the Novo-TTF device treating patients with recurrent GBM compared to standard-of-care chemotherapy. The results of this trial will be presented to the Food and Drug Administration (FDA) as part of a PMA application planned for early next year.