BETHESDA, Md., July 8, 2011 /PRNewswire/ -- Northwest Biotherapeutics (OTC Bulletin Board: NWBO) ("NWBT") announced today a $4.55 million equity investment on June 28, 2011, by The Richard M. Schulze Family Foundation (the "Foundation"). The sale of newly issued common stock of the Company to the Foundation follows the investment of $3 million, on May 31, 2011, by investment funds managed by Whitebox Advisors, a multi-billion dollar hedge fund group headquartered in Minneapolis, Minnesota ("Whitebox"). The Foundation has been focused for a number of years on game-changing medical research and treatment breakthroughs. The Foundation has been a major supporter of basic research at universities, and clinical programs at medical centers such as the University of Minnesota and the Mayo Clinic.
NWBT is developing DCVax® immune therapies for personalized treatment of a wide range of cancers. DCVax® is a platform technology which uses a patient's own dendritic cells (the master cells of the immune system), and biomarkers of the patient's specific type of cancer. In essence, the dendritic cells are activated and "educated" to recognize that patient's cancer and mobilize the patient's immune system to attack it. As such, DCVax® is a non-toxic, broad platform technology which is expected to be applicable to most cancers.
The Company's lead product candidate is DCVax®-L, which targets solid tumor cancers (i.e., cancers in various tissues) such as Glioblastoma multiforme (''GBM''), the most lethal form of brain cancer. DCVax®-L for GBM is currently in a 240-patient Phase II clinical trial. In prior clinical trials of DCVax®-L for GBM, the results have been
|SOURCE Northwest Biotherapeutics|
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