Financing Update - replacement
04 Febrero 2009 - 3:39AM
UK Regulatory
TIDMNWBS TIDMNWBT
RNS Number : 7692M
Northwest Biotherapeutics Inc
04 February 2009
Northwest Biotherapeutics, Inc.
("NWBT", "Northwest" or the "Company")
Financing Update
This replaces RNS announcement 7480M released at 07:00 on Wednesday, 4 February
2009. The first sentence had stated BETHESDA, MD - 6 November 2008 when it
should have stated BETHESDA, MD - 4 February 2009.
BETHESDA, MD - 4 February 2009 - Northwest Biotherapeutics, Inc. (AIM: NWBS and
NWBT; OTC BB: NWBO), today announces that it is at an advanced stage of
discussions with a potential provider of finance to the Company.
The Company will need to raise additional capital to fund its clinical trials
and other operating activities and to repay indebtedness in due course.
Shareholders should be aware that if the Company's capital raising efforts are
unsuccessful, this will have a material adverse effect on the Company's
financial position and operations.
A further announcement will be made in due course as appropriate.
About NWBT
Northwest Biotherapeutics, Inc. is a biotechnology company focused on developing
immunotherapy products that treat cancers more effectively than current
treatments, with limited toxicity, on a cost-effective basis. The Company has
two broad platform technologies: dendritic cell-based vaccines, and therapeutic
antibodies. The Company is currently conducting a large clinical trial in
Glioblastoma multiforme, which is designed and powered to serve as a pivotal
trial. The Company has also received clearance from the FDA for a large Phase
III trial in prostate cancer, and clearance from the FDA for Phase I trials in
five other cancers. The Company has started, and is currently enrolling patients
in, a Phase I/II trial with DCVax for recurrent ovarian cancer. The Company
also has a second technology platform, involving monoclonal antibodies to CXCR4,
which is at the late pre-clinical development stage.
For further information, please visit the company web site at www.nwbio.com.
Disclaimer
Statements made in this news release that are not historical facts,
including statements concerning the Company's plans to move its programs
forward, statements regarding the Company's clinical trials and other business
development activities, and statements regarding its fundraising activities, are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Words such as "expects," "believes," "intends,"
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
and uncertainties regarding the Company's ability to secure additional financing
or 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, the
uncertainty of the clinical trials process, uncertainties about the timely
performance of third parties, and whether the Company's products will
demonstrate safety and efficacy. Additional information on these and other
factors, which could affect the Company's results, is included in its Securities
and Exchange Commission ("SEC") filings, including in the Risk Factors section
of the Company's Annual Report on Form 10-K for the year ended December 31, 2007
and in its recently filed Form S-1. Finally, there may be other factors not
mentioned above or included in the Company's SEC filings or recently filed Form
S-1 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.
For further information, please contact:
+----------------------------------------------------------------+----------------------+
| Northwest Biotherapeutics, Inc. | |
+----------------------------------------------------------------+----------------------+
| Alton L. Boynton, Chief Executive Officer | +1 240 497 9024 |
+----------------------------------------------------------------+----------------------+
| | |
+----------------------------------------------------------------+----------------------+
| Buchanan Communications | |
+----------------------------------------------------------------+----------------------+
| Lisa Baderoon (lisab@buchanan.uk.com) / Mary-Jane Johnson / | +44 (0)20 7466 5000 |
| Catherine Breen | |
+----------------------------------------------------------------+----------------------+
| | |
+----------------------------------------------------------------+----------------------+
| Collins Stewart Europe Limited | |
+----------------------------------------------------------------+----------------------+
| Adrian Hadden/ Adam Cowen | +44 (0)20 7523 8350 |
+----------------------------------------------------------------+----------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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