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Novocure Inaugurates New Global Headquarters in Canton of Zug, Switzerland
New headquarters supports Novocure’s continued growth as it pursues its mission of extending survival in some of the most aggressive forms of cancer
BAAR, Switzerland, January 22, 2025--(BUSINESS WIRE)--Novocure (NASDAQ: NVCR) announced today the official opening of its new global headquarters in the Canton of Zug, Switzerland. Novocure is an oncology company working to extend survival in some of the most aggressive forms of cancer, through the development and commercialization of its innovative therapy, Tumor Treating Fields (TTFields).
The company opened its first office in Switzerland in 2013 and has grown its Swiss-based workforce to more than 200 people in the greater Zurich area. The company’s new cutting-edge facility offers a variety of collaborative workspaces designed to foster creativity and productivity.
"The opening of our new global headquarters aligns with a significant point in Novocure’s history as we begin our 25th year of business and move closer to realizing the full potential of Tumor Treating Fields therapy," said Ashley Cordova, Chief Executive Officer, Novocure. "The dynamic life sciences cluster in the Canton of Zug is an ideal location for Novocure’s global headquarters. Our new offices have been thoughtfully designed to foster collaboration and provide flexibility to support Novocure’s continued growth as we pursue our patient-forward mission to extend survival in aggressive forms of cancer."
Member of the Government Council of the Canton of Zug, Silvia Thalmann-Gut, Director of the Department of Economic Affairs, will join Ms. Cordova at the ribbon-cutting ceremony to open the new headquarters.
Ms. Thalmann-Gut commented, "The Canton of Zug is home to many nationally and internationally successful life sciences and MedTech companies, from large players to innovative start-ups. We are pleased that Novocure has chosen the Canton of Zug for its global headquarters. The unique combination of a great business environment, access to highly skilled professionals and the central location in the heart of Europe has obviously convinced Novocure. We warmly welcome Novocure’s employees and look forward to supporting the company in its future endeavors."
ABOUT THE NEW GLOBAL HEADQUARTERS
After many years of being based in Root, Canton of Lucerne, Novocure has now moved into its new global headquarters in Baar, Canton of Zug. The building in Baar was constructed using state-of-the-art technology reflecting the company’s commitment to reducing the environmental impact of its operations wherever possible. A variety of innovative approaches to increase the sustainability of its workspaces, and decrease consumption and waste were incorporated into the building, including a reversible air-to-water heat pump for heating and cooling, which is powered by rooftop solar panels.
ABOUT TUMOR TREATING FIELDS
Tumor Treating Fields (TTFields) are electric fields that exert physical forces to kill cancer cells via a variety of mechanisms. TTFields do not significantly affect healthy cells because they have different properties (including division rate, morphology, and electrical properties) than cancer cells. These multiple, distinct mechanisms work together to target and kill cancer cells. Due to these multi-mechanistic actions, TTFields therapy can be added to cancer treatment modalities in approved indications and demonstrates enhanced effects across solid tumor types when used with chemotherapy, radiotherapy, immune checkpoint inhibition, or targeted therapies in preclinical models. TTFields therapy provides clinical versatility that has the potential to help address treatment challenges across a range of solid tumors.
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 its innovative therapy, Tumor Treating Fields. Novocure’s commercialized products are approved in certain countries for the treatment of adult patients with glioblastoma, non-small cell lung cancer, malignant pleural mesothelioma and pleural mesothelioma. Novocure has several additional ongoing or completed clinical trials exploring the use of Tumor Treating Fields therapy in the treatment of glioblastoma, non-small cell lung cancer and pancreatic cancer.
Novocure’s global headquarters is located in Baar, Switzerland, with U.S. headquarters located in Portsmouth, New Hampshire and research and development facilities located in Haifa, Israel. For additional information about the company, please visit Novocure.com and follow @Novocure on LinkedIn and X (Twitter).
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, clinical trial progress, development of potential products, interpretation of clinical results, prospects for regulatory 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, environmental, regulatory and political conditions and other more specific risks and uncertainties facing Novocure such as those set forth in its Annual Report on Form 10-K filed on February 22, 2024, and subsequent filings 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.
