PRZOOM - /newswire/ -
Clifton, NJ, United States, 2011/08/02 - ITT Corporation (NYSE: ITT) has signed a long-term supply agreement with oncology company Novocure to help produce a powerful new weapon against an aggressive, recurrent brain cancer called glioblastoma multiforme (GBM) - ITT.com. NYSE: ITT
As part of the pioneering Novocure solution, which was recently approved by the U.S. Food and Drug Administration, ITT has adapted its piezoelectric ceramic technology to produce disks that radiate a low-intensity, alternating electric field. The technology slows and reverses tumor growth by inhibiting mitosis, the process by which cells divide and replicate.
“We have been partnering with Novocure for several years to develop, refine and produce this innovative solution,” said Chris Bernhardt, president of ITT Electronic Systems. “We are elated that ITT defense technology will play a significant role in successfully treating one of the most aggressive forms of cancer.”
GBM is the most aggressive and common form of primary brain cancer in the United States, affecting approximately 10,000 Americans each year. Working closely with Novocure as one of its key suppliers in this effort, ITT’s goal from the beginning was to ensure the technology’s design was producible and effective so it could be a viable option for combating this deadly disease.
“We have been shipping 40,000 ceramic disks a month – more than 1 million total – to support clinical trials,” said Bernhardt. “Going forward, we have the capacity to meet Novocure’s emerging needs to ensure that patients who need this treatment will have access to it.”
ITT’s development and production work is being completed by its Electronic Systems business in Salt Lake City, Utah, which provides innovative integrated solutions for the global defense, intelligence, information assurance and commercial aerospace sectors. As a leader in electronic warfare and communications, it leverages experience and innovation to ensure the success of customers’ critical missions. Its 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.
About ITT Corporation
ITT Corporation (itt.com) 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.