Novocure and Zai Lab Awarded Deal of the Year at 5th Annual BioCentury China Healthcare Summit in Shanghai, China
ST. HELIER, Jersey--(BUSINESS WIRE)--Nov 14, 2018--Novocure (NASDAQ:NVCR) announced today that Novocure and Zai Lab have received the Deal of the Year Award from BayHelix at a ceremony during the 5 th annual BioCentury China Healthcare Summit in Shanghai, China. The award is part of the BayHelix China Healthcare Awards series, celebrating outstanding individuals and companies for their achievement and contribution to China’s health care ecosystem.
Novocure, a global oncology company developing Tumor Treating Fields – a proprietary platform technology for the treatment of solid tumors – and Zai Lab, a Shanghai-based innovative biopharmaceutical company, announced in September an exclusive license agreement for Tumor Treating Fields, including the brand name Optune®, for use in oncology in Greater China and a global strategic development collaboration. Tumor Treating Fields is a cancer therapy that uses electric fields tuned to specific frequencies to disrupt cell division, inhibiting tumor growth and causing affected cancer cells to die. The agreement enables Novocure to access the Chinese market and is intended to accelerate clinical trial enrollment. For Zai Lab, this agreement adds a complementary commercial stage oncology asset to its innovative pipeline.
“We thank the event organizers for recognizing the important strategic collaboration between Novocure and Zai Lab which we believe establishes a pathway for patients in China, Hong Kong, Macau and Taiwan to gain access to treatment with Tumor Treating Fields,” said Novocure’s Executive Chairman Bill Doyle. “Zai Lab shares our passion for bringing innovative treatments to patients in need. I look forward to working with the Zai Lab team as we strive to make a difference in the way cancer is treated in China.”
Novocure is an oncology company developing a profoundly different cancer treatment utilizing a proprietary therapy called Tumor Treating Fields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Novocure’s commercialized product is approved for the treatment of adult patients with glioblastoma. Novocure has ongoing or completed clinical trials investigating Tumor Treating Fields in brain metastases, non-small cell lung cancer, pancreatic cancer, ovarian cancer, liver cancer and mesothelioma.
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.
About Zai Lab
Zai Lab (NASDAQ:ZLAB) is a Shanghai-based innovative biopharmaceutical company focused on bringing transformative medicines for cancer, autoimmune and infectious diseases to patients in China and around the world. The Company’s experienced team has secured partnerships with leading global biopharma companies, generating a broad pipeline of innovative drug candidates targeting the fast-growing segments of China’s pharmaceutical market and global unmet medical needs. Zai Lab’s vision is to become a fully integrated biopharmaceutical company, discovering, developing, manufacturing and commercializing its partners’ and its own products in order to impact human health worldwide.
BayHelix is an organization of leaders of Chinese heritage in the global life sciences and healthcare community. BayHelix China Healthcare Awards are presented each year in five categories: R&D Achievement of Year; Deal of the Year; Commercial Achievement of the Year; Company of the Year; and Person of the Year.
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 submission and 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 more specific risks and uncertainties facing Novocure such as those set forth in its Annual Report on Form 10-K filed on February 22, 2018, 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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