BETHESDA, Md., Nov. 30, 2015 /PRNewswire/ -- Northwest
Biotherapeutics (NASDAQ: NWBO) ("NW Bio"), a U.S. biotechnology
company developing DCVax® personalized immune therapies for solid
tumor cancers, announced today that the Board is committed to
adding an additional independent director, and the Company welcomes
Neil Woodford's call for an
independent investigation of allegations in a recent anonymous
internet report on NW Bio. The Company's Board is under way
on both initiatives.
NW Bio CEO Linda Powers stated,
"We agree with Mr. Woodford that, at NW Bio's current stage of
development, expanding our Board to include another independent
director with financial expertise can be quite helpful for the
Company's continued growth. Our clinical programs are
growing, and we have expanded the management personnel in important
areas during this year, including expansion of the independent
external team that has been performing our CFO function since 2012,
as well as expansion of internal financial personnel and clinical
personnel. It makes sense to expand the Board as well."
"The interview and consideration process for a new Board seat is
well under way with Mr. Woodford's candidate, Mr. Elliott Leary. Our Board is hoping to meet
with him again in the next couple of days, and to promptly complete
the process."
Ms. Powers also commented: "We also welcome Mr. Woodford's
proposal for an independent investigation of claims made in a
recent internet report. Most of those claims have been
recycled over and over, and the internet report was
anonymous. However, the Company and the Board take such
claims seriously, the Board has already been meeting to address the
report, and the Board plans to meet again this week in regard to
moving forward on an independent investigation such as Mr. Woodford
has proposed."
About Northwest Biotherapeutics
Northwest Biotherapeutics is a biotechnology company focused on
developing immunotherapy products to treat cancers more effectively
than current treatments, without toxicities of the kind associated
with chemotherapies, and on a cost-effective basis, in both
the United States and
Europe. The Company has a broad platform technology for DCVax
dendritic cell-based vaccines. The Company's lead program is
a 348-patient Phase III trial in newly diagnosed Glioblastoma
multiforme (GBM). GBM is the most aggressive and lethal form
of brain cancer, and is an "orphan disease." The Company is
under way with a 60-patient Phase I/II trial with DCVax-Direct for
all inoperable solid tumors cancers, with a primary efficacy
endpoint of tumor regression. It has completed enrollment in
the Phase I portion of the trial. The Company previously
received clearance from the FDA for a 612-patient Phase III trial
in prostate cancer. The Company conducted a Phase I/II trial
with DCVax for metastatic ovarian cancer together with the
University of Pennsylvania. In
Germany, the Company has also received approval of a 5-year
Hospital Exemption for the treatment of all gliomas (brain cancer)
patients outside the clinical trial.
Disclaimer
Statements made in this news release that are not historical
facts, including statements concerning future treatment of patients
using DCVax and future clinical trials, are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Words such as "expect," "believe,"
"intend," "design," "plan," "continue," "may," "will,"
"anticipate," and similar expressions are intended to identify
forward-looking statements. Actual results may differ
materially from those projected in any forward-looking
statement. Specifically, there are a number of important
factors that could cause actual results to differ materially from
those anticipated, such as risks related to the Company's ongoing
ability to raise additional capital, risks related to the Company's
ability to enroll patients in its clinical trials and complete the
trials on a timely basis, uncertainties about the clinical trials
process, uncertainties about the timely performance of third
parties, risks related to whether the Company's products will
demonstrate safety and efficacy, risks related to the Company's and
Cognate's abilities to carry out the intended manufacturing
expansions contemplated in the Cognate Agreements, risks related to
the Company's ability to carry out the Hospital Exemption program
and risks related to possible reimbursement and pricing.
Additional information on these and other factors, including Risk
Factors, which could affect the Company's results, is included in
its Securities and Exchange Commission ("SEC") filings.
Finally, there may be other factors not mentioned above or included
in the Company's SEC filings that may cause actual results to
differ materially from those projected in any forward-looking
statement. You should not place undue reliance on any
forward-looking statements. The Company assumes no obligation
to update any forward-looking statements as a result of new
information, future events or developments, except as required by
securities laws.
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SOURCE Northwest Biotherapeutics, Inc.