Novocure Announces Appointment of Wilco Groenhuysen as Chief Financial Officer

NEW YORK, Jan. 5, 2012 /PRNewswire/ -- Novocure Ltd., a commercial stage, private oncology company, announced today that Wilco Groenhuysen has been appointed as chief financial officer, a newly created position.  Mr. Groenhuysen will assume leadership for global finance functions and join the executive management team that is leading the worldwide launch of Novocure's Tumor Treating Fields (TTF) cancer therapy devices. 

Prior to joining Novovcure, Mr. Groenhuysen was executive vice president and chief financial officer of Cephalon Inc., through its acquisition by Teva Pharmaceutical Industries Ltd. in 2011. At Cephalon, Mr. Groenhuysen was responsible for worldwide finance, commercial operations, investor relations and risk management.  Mr. Groenhuysen led financings in total of over $1.0 billion from equity, convertible debt and credit facilities for Cephalon.

Prior to joining Cephalon in 2007, Mr. Groenhuysen spent 20 years with Philips Electronics in various assignments in Europe, Asia and the United States.  At the time he left Philips, Mr. Groenhuysen was the CFO and senior vice president of Philips Electronics North America Corporation.

"Wilco Groenhuysen has a history of success leading financial operations of complex, rapidly growing, global businesses. His rare combination of experience in the electronics industry with Philips and in the oncology industry with Cephalon makes him exceptionally well-qualified to serve as our CFO," said William F. Doyle, Novocure's executive chairman.  "Wilco will play an essential role in executing Novocure's mission to bring TTF therapy to cancer patients."

"I am thrilled to join such a talented management team and rapidly expanding company," said Mr. Groenhuysen. "We have the opportunity to transform cancer care for patients around the world."

"Novocure has been fortunate to attract dedicated, experienced world class executives such as Wilco Groenhuysen to its management team," said Asaf Danziger, Novocure CEO.  "I look forward to working with Wilco over the coming years to continue Novocure's growth as a global oncology company."

About the NovoTTF-100A System™

NovoTTF-100A System™ 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. In patients with recurrent glioblastoma brain tumors, the device has shown clinical efficacy comparable to that of active chemotherapies with better quality of life without many of the side effects of chemotherapy.  The NovoTTF-100A has received marketing approval in the US and is a CE Marked device that is cleared for sale in Europe.

The US Food and Drug Administration (FDA) has approved the NovoTTF-100A System for use as a treatment for adult patients (22 years of age or older) with histologically-confirmed glioblastoma multiforme (GBM), following histologically – or radiologically-confirmed recurrence in the supratentorial region of the brain after receiving chemotherapy. The device is intended to be used as monotherapy, and is intended as an alternative to standard medical therapy for GBM after surgical and radiation options have been exhausted.

Patients should only use the NovoTTF-100A System under the supervision of a physician properly trained in use of the device.

About Novocure™

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 New York, NY and Portsmouth, NH and the company's research center is located in Haifa, Israel. For additional information about the company, please visit www.novocure.com.

SOURCE Novocure

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