NWBS Northw.Bio Regs

    RNS Number : 3829L
  Northwest Biotherapeutics Inc
  09 January 2009
   

    For Immediate Release                                                                                             9 JANUARY 2009



    Northwest Biotherapeutics, Inc.
    ("NWBT", "Northwest" or the "Company")

                
    Northwest Biotherapeutics Settles Class Action Complaint, and
    SEC Investigation Closed Without Action


    Bethesda, MD- 9 January 2009 - Northwest Biotherapeutics, Inc. (AIM: NWBS and NWBT; OTC BB: NWBO). Northwest Biotherapeutics announced
today settlement of a putative securities class action lawsuit, In re Northwest Biotherapeutics, Inc. Securities Litigation, No.
C-07-1254-RAJ. The Company has agreed to pay in settlement US$1 million, which is to be funded entirely out of insurance proceeds. The
settlement must be approved by the Court. Additional details about the settlement can be found in the formal settlement documents, which are
available from the United States District Court for the Western District of Washington. The case alleged that the Company misrepresented
certain facts that resulted in the artificial inflation of the price of Northwest Biotherapeutics publicly-traded common stock between April
17, 2007 and July 18, 2007. The Company disputes the allegations of the lawsuit, and denies that there was any such misrepresentation or
that the shares of Northwest's common stock were artificially inflated. Nevertheless the Company is settling the lawsuit to avoid potentially expensive and protracted litigation.  

    The Company also announced today that the formal investigation by the SEC into these matters has been closed without any action taken. 


    Dr. Alton Boynton, CEO of Northwest , stated that "we are pleased to have settled this litigation, and we believe this outcome is in the
best interests of the Company and its shareholders. Of course, we are also pleased to have the SEC investigation behind us." 

    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         +44 (0)20 7466 5000
 Johnson / 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 
 
MSCSSISMUSUSELF

Northw.Bio Regs (LSE:NWBS)
Historical Stock Chart
Von Mai 2024 bis Jun 2024

Northw.Bio Regs (LSE:NWBS)
Historical Stock Chart
Von Jun 2023 bis Jun 2024