Novocure Announces Long-Term Supply Agreement With ITT Corporation for Ceramic Sensor Technology
PORTSMOUTH, N.H., Aug. 4, 2011 /PRNewswire/ -- Novocure, a commercial stage private oncology company, announced today that it has entered into a long-term supply agreement with ITT Electronic Systems, a subsidiary of global engineering and manufacturing conglomerate ITT Corporation (NYSE: ITT). ITT Electronic Systems supplies Novocure with the piezoelectric ceramic components used to manufacture the disposable electrodes for the NovoTTF-100A System, an FDA approved device indicated for the treatment of adult patients with recurrent glioblastoma brain tumors (GBM).
"The NovoTTF-100A System is a highly engineered therapeutic medical device that must consistently perform within precise operating parameters," said Mike Ambrogi, Novocure's COO. "ITT Electronic Systems was able to adapt piezoelectric ceramic electrode sensing technology from an advanced military application to meet our rigorous technical specifications."
The NovoTTF-100A System consists of an electronic field generator, disposable electrodes, and related accessories. The disposable electrodes utilize piezoelectric ceramic components from ITT Electronic Systems' facility located in Salt Lake City, Utah that were originally developed to provide underwater sensing capabilities for US Navy anti-submarine forces. The NovoTTF-100A electrodes integrate high tolerance sensors that ensure the NovoTTF-100A System delivers electric fields to target tissues within parameters known to be safe and therapeutically effective and are insulated to prevent transmission of electric currents. The electrodes are used by patients over multiple days and then discarded and replaced.
"The electrodes are among the most technically advanced components of the NovoTTF-100A System and Novocure will benefit from the extraordinary engineering and manufacturing capabilities of ITT Electronic Systems," said Asaf Danziger, Novocure's CEO. "We can now scale production of the NovoTTF-100A electrodes to satisfy the anticipated clinical demand for our product."
Novocure Limited is a private oncology company pioneering a novel therapy for solid tumors. Novocure's worldwide headquarters is located in the Jersey Isle. Novocure's US operations are based in Portsmouth, NH and the company's research center is located in Haifa, Israel. For additional information about the company, please visit www.novocure.com.
About the NovoTTF-100A System
NovoTTF-100A is a portable, non-invasive medical device designed for continuous use throughout the day by the patient. The device has been shown in in vitro and in vivo studies to slow and reverse tumor growth by inhibiting mitosis, the process by which cells divide and replicate. The NovoTTF-100A device, which weighs about six pounds (three kilograms), creates a low intensity, alternating electric field within the tumor that exerts physical forces on electrically charged cellular components, preventing the normal mitotic process and causing cancer cell death prior to division. Novocure currently has US and European marketing approvals for the NovoTTF-100A System.
About ITT Corporation
ITT Corporation is a high-technology engineering and manufacturing company operating on all seven continents in three vital markets: water and fluids management, global defense and security, and motion and flow control. With a heritage of innovation, ITT partners with its customers to deliver extraordinary solutions that create more livable environments, provide protection and safety and connect our world. Headquartered in White Plains, N.Y., the company reported 2010 revenue of $11 billion. www.itt.com.
About ITT Electronic Systems
ITT Electronic Systems provides innovative integrated solutions for the global defense, intelligence, information assurance and commercial aerospace sectors. As a leader in electronic warfare and communications, we leverage our experience and innovation to ensure the success of our customers' critical missions. Our technology leadership extends into the areas of airborne electronic attack, networked and satellite communications, counter-improvised explosive devices, airspace management, surveillance systems, airborne and shipboard radar, acoustic sensors, advanced composite structures and electronic weapons interfaces. For more information on ITT's acoustic sensors capabilities, see http://uss.es.itt.com/as.
Frank Leonard, Novocure