Fenwick Represents Pharmakon Advisors in its $400 Million Funding Agreement with Novocure

Fenwick represented Pharmakon Advisors, a leading investor in non-dilutive debt for the life sciences industry, in IP diligence in Pharmakon’s up to $400 million funding agreement with Novocure (NASDAQ: NVCR). Headquartered in Root, Switzerland, 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 adults with glioblastoma, pleural mesothelioma, and malignant pleural mesothelioma, and the company has ongoing and completed clinical studies investigating Tumor Treating Fields in brain metastases, gastric cancer, glioblastoma, liver cancer, non-small cell lung cancer, pancreatic cancer, and ovarian cancer. This funding from Pharmakon will support Novocure’s anticipated launch in non-small cell lung cancer and will, upon maturity, settle Novocure’s convertible notes. The first $100 million was issued at the time of closing and an additional $100 million will be issued by June 30, 2025. The final $200 million will be available to Novocure at their discretion, and subject to certain milestones, in two tranches through March 31, 2026.

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The Fenwick team included intellectual property partner Dr. Carl Morales, associate Dr. Stefan Ochiana, and patent scientist Dr. Nadzeya Kukhta, as well as corporate partner Eric Shedlosky.