Equity Financing
10 Febrero 2009 - 1:00AM
UK Regulatory
TIDMNWBS TIDMNWBT
RNS Number : 0499N
Northwest Biotherapeutics Inc
10 February 2009
Northwest Biotherapeutics, Inc.
("NWBT", "Northwest" or the "Company")
Northwest Secures US$700,000 Equity Financing
Bethesda, MD- February 10, 2009 - Northwest Biotherapeutics, Inc. (AIM: NWBS and
NWBT; OTC BB: NWBO) announces today receipt of US$700,000 in cash from Al Rajhi
Holdings through the subscription of 1,000,000 new shares in the form of the
Company's common stock at US$0.70 per share. The new stock is expected to be
admitted to trading on AIM on 16 February 2009. The shares will not be tradable
on the Company's OTC bulletin board listing in the US without prior
registration.
The proceeds will be used to support the Company's ongoing working capital
needs. The Company's directors consider, having consulted with its Nominated
Advisor, Collins Stewart Europe Limited, that the terms of this financing are
fair and reasonable in so far as all of its shareholders are concerned.
"We are very pleased to have completed another interim financing despite
severely adverse general market conditions," said NWBT's Chief Executive Officer
Alton Boynton. "We look forward to continuing the financing discussions
currently under way with several additional parties for short-term and long-term
funding of the Company".
The US$700,000 received by the Company will be sufficient to fund its cash needs
during February. The Company remains in an advanced stage of negotiations with
several different providers for additional near-term funding and longer term
funding, which it hopes to complete during H1 of 2009.
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.
About Northwest Biotherapeutics
Northwest Biotherapeutics is a biotechnology company focused on developing
immunotherapy products that treat cancers more effectively than current
treatments, without 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 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 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. Additional
information on these and other 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 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
MSCTLMTTMMIMTML
Northw.Bio Regs (LSE:NWBS)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Northw.Bio Regs (LSE:NWBS)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024
Real-Time news about Northw.Bio Regs (London Stock Exchange): 0 recent articles
Más de Northwest Bio. Artículos de Noticias