NovoCure, the Israeli tumor specialist announces NASDAQ €170M IPO

23/09/2015 - 2 minutes

NovoCure, originally from Haifa (Israel) is planning an IPO on NASDAQ with a target of €170M to make from its 12.5M shares on offer. It is hoped this financial injection will further commercialize its FDA-approved tumor treating field (TTField) medical device Optune.

logoNovoCure is a commercial stage oncology biotech specialising in trials for solid-tumor treatments. Founded in 2000, they have a rich oncology-focused pipeline, with their Tumor treating field (TTField) therapy having successfully been approved by the FDA for recurrent glioblastoma in 2011.

TTFields works by emitting altnerating low-frequency electrical fields which disrupt tumor cell division during mitosis. This causes cell-death in solid tumors (watch their explanatory videos here), and is particularly effective as a non-invasive transdermal delivery through its Optune transportable device. You can read more about Optune in this GizMag article from 2012.

 

 

TTField technology was originally invented by NovoCure’s co-founder Yoram Palti, an emeritus Biophysics professor at the Israel Institute of Technology.

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