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 5th 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 Chinas 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 Novocures 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. Novocures 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 Companys experienced team has secured partnerships with leading global biopharma companies, generating a broad pipeline of innovative drug candidates targeting the fast-growing segments of Chinas pharmaceutical market and global unmet medical needs. Zai Labs 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.
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