Northwest Bio Awarded $5.5 Million German Govern... ( BETHESDA Md. May 1 2012 /- North...)

Northwest Bio Awarded $5.5 Million German Government Grant

Date:5/1/2012

BETHESDA, Md., May 1, 2012 /PRNewswire/ -- Northwest Biotherapeutics, Inc. (OTC Bulletin Board: NWBO) (NW Bio) today announced that, working together with the Fraunhofer Institute (IZI), it has received approval of a major grant from the Sachsische Aufbau Bank (SAB or Saxony Development Bank) in Germany. The grant will reimburse fifty percent (50%) of the costs for manufacturing in Germany and for NW Bio's clinical trial with DCVax®-L for brain cancer at up to 30 clinical sites in Germany. The amount of the grant will be euro 4.15 million (~$5.5 million).

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The clinical sites in Germany and their data will become part of the 240-patient, double blind, randomized, placebo-controlled clinical trial for newly diagnosed Glioblastoma multiforme (GBM) brain cancer, which is under way at more than 30 sites across the U.S. The German clinical sites and data will also provide domestic data for European Union (EU) approval processes.

"After working closely for more than 7 months on this grant application process with partners at Fraunhofer IZI, Bioville GmbH, the Translational Center for Regenerative Medicine and Cognate GmbH, we are excited and honored to be awarded one of the largest such R&D grants ever made by the Saxony Development Bank," commented Linda Powers, CEO of NW Bio. "This award will help us build our base in Germany, and accelerate our brain cancer clinical trial in Europe as well as the US, with some of the most respected institutions on both sides of the Atlantic."

As noted last week, following recent completion of 13 months of technology transfer and regulatory processes for certification of DCVax®-L manufacturing in Germany, the final regulatory inspection of Fraunhofer IZ
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SOURCE Northwest Biotherapeutics, Inc.
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