NovoCure Announces Departure Of Chief Commercial Officer

ST. HELIER, Jersey--(BUSINESS WIRE)--Novocure (NASDAQ: NVCR) announced today that its Chief Commercial Officer, Peter Melnyk, will be leaving the company to pursue other interests. Mr. Melnyk will continue his employment with the company until March 15, 2017 to ensure a smooth transition.

“I want to thank Peter for his more than five years of leadership at Novocure. During his tenure, Peter developed our commercial business model, launched the Optune brand and drove eight consecutive quarters of active patient and revenue growth after the presentation of our EF-14 clinical data in Q4 2014. Peter leaves our commercial organization in a strong position to continue its success,” said Asaf Danziger, Novocure’s Chief Executive Officer. “I look forward to following Peter’s continued accomplishments as he begins the next chapter of his career.”

Upon Mr. Melnyk’s departure, Pritesh Shah, Senior Vice President of the Americas, Thomas Hefti, Vice President of Europe and Emerging Markets, and Shungo Matori, General Manager of Japan, will report directly to Mr. Danziger.

About Novocure

Novocure is an oncology company developing a profoundly different cancer treatment centered on a proprietary therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Novocure’s commercialized product, Optune, is approved for the treatment of adult patients with glioblastoma. Novocure has ongoing or completed clinical trials investigating TTFields in brain metastases, non-small cell lung cancer, pancreatic cancer, ovarian 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 and Japan, and a research center in Haifa, 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, development of potential products, interpretation of clinical results, prospects for regulatory approval, manufacturing development and capabilities, market prospects for its products, 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 23, 2017, 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.