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Family Foundation of Business Leader Invests $4.55 Million in Northwest Biotherapeutics for Promising Clinical Trials in the US and Europe
Date:7/8/2011

striking.  The patients who received DCVax®-L showed a median survival of 3 years, compared with median survival of only 14.6 months with standard of care today (surgery, radiation and chemotherapy).  The patients treated with DCVax®-L did not have their tumor recur for approximately 2 years, on average, as compared with tumor recurrence in just 7 months with standard of care today.  Moreover, these patients did not experience any toxicity from DCVax®-L.

"With these additional resources from the Foundation and Whitebox, augmented by the $25 million equity financing facility through Toucan Capital which we recently announced, NWBT now has a strong resource base to pursue the completion of its clinical trials and progress toward commercialization," said Ms. Linda Powers, CEO of NWBT.  "It is gratifying to see growing support for our vision of DCVax®  as a more effective, non-toxic, easier to administer, and less expensive new treatment for multiple cancers."

"I am impressed by the clinical trial results to date, and encouraged that the Company is pursuing these trials in both the US and Europe," commented Richard M. Schulze, President of The Richard M. Schulze Family Foundation.  "I share NWBT's vision that with its cost-effective manufacturing, and the simplicity of the DCVax®  product, like a flu shot, this new treatment can be made available at reasonable cost to patients."

About Whitebox Advisors

Whitebox Advisors is an SEC-registered investment adviser located in Minneapolis, Minnesota. Founded in 2000, the firm currently manages over $2.5 billion and employs 65 professionals.

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 b
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SOURCE Northwest Biotherapeutics
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