Zai Lab and Novocure Awarded Deal of the Year
November 14 2018 - 7:30AM
Zai Lab Limited (NASDAQ: ZLAB), a Shanghai-based innovative
biopharmaceutical company, and Novocure Limited (NASDAQ: NVCR)
today announced that they have received the Deal of the Year Award
at the 9th Annual BayHelix Awards Lunch Banquet held during the
annual BioCentury-BayHelix China Healthcare Summit in Shanghai,
China. The annual award recognizes a groundbreaking collaboration,
technology transfer, licensing, capital raising, M&A or joint
venture that involves a Chinese company in the healthcare sector.
In September of this year, Zai Lab and Novocure announced a
strategic collaboration and an exclusive license agreement in the
field of oncology by which Zai lab would develop and launch
Novocure’s Tumor Treating Fields (TTFields) technology, under the
brand name Optune®, in Greater China and to collaborate with
Novocure in the global development of the product. TTFields
is a cancer therapy that uses electric fields tuned to specific
frequencies to disrupt cell division, inhibiting tumor growth and
causing affected cancer cells to die. The agreement enables
Novocure to access the Chinese market and is intended to accelerate
clinical trial enrollment across multiple indications in oncology.
“This is a great honor for Zai Lab and
highlights the ingenuity of our business development and execution
teams to identify a proven, innovative technology that would be
both beneficial to patients in China and a synergistic fit with our
oncology pipeline and commercial infrastructure,” said Dr. Samantha
Du, CEO of Zai Lab. “It is also an excellent opportunity to develop
a long-term relationship with Novocure so that a win-win deal could
be realized. We are very impressed with the efficacy and safety of
TTFields in treating glioblastoma multiforme as well as with the
Novocure team that has brought it to commercial success.”
Bill Doyle, Executive Chairman of Novocure said,
“We thank the event organizers for recognizing the important
strategic collaboration between Novocure and Zai Lab which we
believe establishes a pathway for patients in Greater China to gain
access to TTFields. Zai Lab shares our passion to bring innovative
treatments to patients in need. I look forward to working with
Samantha and the Zai Lab’s world-class team as we strive to make a
meaningful difference in the way cancer is treated in Greater
China. In addition, their strong interest in partnering to further
develop TTFields on a global basis was very important and strategic
for us. We look forward to many years of a successful
collaboration.”
Zai Lab and Novocure held an Investor and Media
event on Wednesday, November 14, 2018, at 2:30 p.m. CT (1:30 a.m.
EST) at the Jing An Shangri-La Hotel, Shanghai. A replay of the
webcast will be available on the events page of the Zai Lab website
at www.zailaboratory.com for 90 days following the live event.
About Zai Lab
Zai Lab (NASDAQ: ZLAB) is a Shanghai-based
innovative biopharmaceutical company focused on bringing
transformative medicines for cancer, autoimmune and infectious
diseases to patients in China and around the world. The Company’s
experienced team has secured partnerships with leading global
biopharma companies, generating a broad pipeline of innovative drug
candidates targeting the fast-growing segments of China’s
pharmaceutical market and global unmet medical needs. Zai Lab’s
vision is to become a fully integrated biopharmaceutical company,
discovering, developing, manufacturing and commercializing its
partners’ and its own products in order to impact human health
worldwide.
About NovocureNovocure is an
oncology company developing a profoundly different cancer treatment
utilizing a proprietary therapy called Tumor Treating Fields, the
use of electric fields tuned to specific frequencies to disrupt
solid tumor cancer cell division. Novocure’s commercialized product
is approved for the treatment of adult patients with glioblastoma.
Novocure has ongoing or completed clinical trials investigating
Tumor Treating Fields in brain metastases, non-small cell lung
cancer, pancreatic cancer, ovarian cancer, liver 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, Japan and Israel. For additional information about the
company, please visit www.novocure.com or follow us at
www.twitter.com/novocure.
About BayHelixBayHelix is an
organization of leaders of Chinese heritage in the global life
sciences and health care community. BayHelix China Healthcare
Awards are presented each year in five categories: R&D
Achievement of Year; Deal of the Year; Commercial Achievement of
the Year; Company of the Year; and Person of the Year. This
is the fourth award that Zai Lab has received from BayHelix.
In 2014, Zai La received China Pharmaceutical Awards-Alliance of
the year. In 2016 and 2017, Dr. Samantha Du received the
Person of the Year and Lifetime Achievement awards,
respectively. In 2017, Zai Lab also received the Company of
the Year award.
Zai LabBilly Cho+86 137 6151
2501 billy.cho@zailaboratory.com
Media: Nancie Steinberg / Robert FlammBurns
McClellan, on behalf of Zai Lab212-213-0006
nsteinberg@burnsmc.com / rflamm@burnsmc.com
Investors: Jill SteierBurns McClellan, on behalf
of Zai Lab212-213-0006jsteier@burnsmc.com
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