SOURCE: BioMedReports


July 11, 2011 08:39 ET

"Growing Momentum and Recognition" for Northwest Biotherapeutics Should Continue

LOS ANGELES, CA--(Marketwire - Jul 11, 2011) - Shares of Northwest Biotherapeutics (OTCBB: NWBO) rose after officials released details about a $4.55 million equity investment by The Richard M. Schulze Family Foundation and a $3 million investment by Whitebox Advisors, a multi-billion-dollar hedge fund group headquartered in Minneapolis, Minnesota.

Richard M. Schulze is the founder and current Chairman of the Board of Best Buy -- one of the leading specialty retailers of consumer electronics in the world. Since establishing his foundation in 2004 as "a way to give back to the community," the non-profit has become a major supporter of research and clinical programs at medical centers such as the University of Minnesota and the Mayo Clinic.

As biotech investors know, Northwest Biotherapeutics' leading product candidate DCVax®-L, which targets solid tumor cancers like Glioblastoma multiforme (the most lethal form of brain cancer), is currently in a 240-patient Phase II clinical trial.

The $7.55 million raised in the last 30 days, together with the $25 million equity financing facility announced in the same time frame, is another positive signal to the investment community that Northwest Biotherapeutics now has the financial base to pursue acceleration of the GBM clinical trial both here in the United States and Europe. Furthermore, our own in-depth research on the company continues to point to positive developments and progressive breakthroughs ahead.

When contacted about the investments and what they mean for the continued development of their drug platform, Northwest Biotherapeutics' CEO Linda Powers said:

"Our science and clinical trial results involving multiple cancers have always been strong. Thanks to the Schulze Family Foundation, Whitebox Advisors and the equity facility agreement, the resources are now finally in place to ramp up execution of our key clinical trial for brain cancer. With growing momentum and recognition, we move closer to the day when DCVax can lead the way to harnessing the power of the immune system for improved treatment of the broad range of cancers in our product pipeline."

A special report on the significance of this important financing development and what it could mean to investors of this company is available now at:

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