Shots:
- Novocure is a global oncology company working to extend survival in aggressive forms of cancer through the development & commercialization of our innovative therapy, Tumor Treating Fields, also known as TTFields
- TTFields are low-intensity, wave-like electric fields. These invisible electric fields are not strong enough to hurt you or your healthy cells, but they are strong enough to slow or stop cancer cells from dividing (splitting apart. When a cancer cell divides, it creates even more cancer cells
- Novocure has grown from a market cap of $1.87B in 2015 to over $10B currently – a nearly 500% increase
Tuba: Please tell us about your company, its mission and how it is reimagining your industry?
William: Novocure is a global oncology company working to extend survival in some of the most aggressive forms of cancer through the development and commercialization of our innovative therapy, Tumor Treating Fields, also known as TTFields.
Novocure’s commercialized products are approved in certain countries for the treatment of adult patients with glioblastoma, or GBM, and for the treatment of adult patients with malignant pleural mesothelioma, or MPM.
Our company is reimagining the industry by putting patients first in our goal to deliver innovative cancer therapy.
Tuba: How would you describe Novocure’s clinical pipeline and overall product portfolio?
William: We believe our mechanism of action is broadly applicable across a variety of solid tumors. Currently, we are focused on cancers of the brain, torso and abdomen.
Our Optune® device is currently approved for two indications of Glioblastoma, also called glioblastoma multiforme, which is the most aggressive type of malignant primary brain tumor. In 2019, we received our first torso indication with the approval of the Optune Lua ® device to help treat malignant pleural mesothelioma, a tumor of the tissue that lines the lungs, stomach, heart, and other organs.
With a focus on treating rare and aggressive cancers, we are also studying our Tumor Treating Fields technology in 6 additional indications, including four late-stage clinical trial programs in brain metastasis, non-small cell lung cancer, pancreatic cancer and ovarian cancer.
We continue the effort to extend our pipeline by building pre-clinical evidence for Tumor Treating Fields in additional solid tumor cancers
Tuba: What are Tumor Treating Fields (TTFields) and how do they help fight the most deadly cancers?
William: TTFields are low-intensity, wave-like electric fields. These invisible electric fields are not strong enough to hurt you or your healthy cells, but they are strong enough to slow or stop cancer cells from dividing (splitting apart. When a cancer cell divides, it creates even more cancer cells. TTFields may destroy some cancer cells completely TTFields but have not been shown to affect healthy cells.
Tuba: I hear you are celebrating a couple of different 5-year anniversaries for both your IPO and an FDA approval in glioblastoma. How have you seen the glioblastoma business change and grow since that approval?
A4: Shortly after our IPO, we began our commercial launch for our second Indication in GBM in the U.S. and our device is now marketed in eight active markets, the U.S., Austria, Germany, Israel, Japan, Sweden, Switzerland and most recently in China. To date, we have treated more than 17,000 patients globally with 3,361 active patients on Optune at the end of Q3 2020. Additionally, we have broadened access to Optune with more than 500 million covered lives globally.
Tuba: From a financial standpoint, how have you seen the company evolve in the past five years?
William: Novocure has grown from a market cap of $1.87 billion in 2015 to over $10 billion currently – a nearly 500% increase.
Most recently, Novocure announced that the company delivered another record quarter of financial performance, with net revenues for the quarter ending September 30, 2020, at $132.7 million, representing 44% growth compared to the third quarter of 2019. We also had a quarterly net income of $9.3M with a $0.09 in earnings per share in Q3 2020.
Our investment in R&D to support the continued advancement of Tumor Treating Fields’ science and technology has also grown. In Q3 2020, we invested $33M in R&D in comparison to $19M in Q3 2019.
Tuba: Can you tell us about some ongoing collaborations, specifically your recently announced strategic alliance with the NYU Grossman School of Medicine’s Department of Radiation Oncology?
William: Zai Lab’s early launch of Optune in China in 2020 was a success. The goal of this collaboration was to commercialize Optune in mainland China, as well as to accelerate development in other solid tumor indications. It became the first innovative medical device supported by commercial health insurance in China.
Additionally, we recently announced our alliance with the NYU Grossman School of Medicine’s Department of Radiation. The partnership establishes NYU as a center for Tumor Treating Fields’ research and development. The goal of the collaboration is to expand understanding of the interaction between Tumor Treating Fields and radiation therapy, to study Tumor Treating Fields in combination with various pharmacological agents, and to identify new indications for use. This translational research is intended to deepen the understanding of Tumor Treating Fields’ effects on cancer and to fuel the development of new treatment strategies.
Tuba: What do you like best about working at Novocure?
William: At Novocure, patients remain at the heart of the work we do every day. What I like best about working at Novocure is having the ability to help drive the company’s efforts in the development and delivery of a completely different type of cancer therapy that could lengthen the lives of patients while maintaining their quality of life.
About William F. Doyle:
William F. Doyle is an Executive Chairman at Novocure 2009 and has been a director since 2004.
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The post ViewPoints Interview: Novocure’s William F. Doyle Shares Insight on Company’s Accomplishments in the Treatment of Glioblastoma and Mesothelioma first appeared on PharmaShots.
