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May 29, 2014
09:34 EDTNWBONorthwest Biotherapeutics refutes claims by Adam Feuerstein
Northwest Biotherapeutics refuted the statements made by Adam Feuerstein in an article on Tuesday, May 27. Regarding Feuerstein's headline, "Cancer Patients Aren't Responding to Northwest Bio's DCVax-Direct" and the claim that "None of the 19 patients with advanced, metastatic cancers have responded to treatment with DCVax-Direct in an ongoing Phase I clinical trial", Northwest stated that "While still only part way through treatment, more than 50% of these patients - 11 of the 19 - have already shown tumor shrinkage of up to 28%, substantial tumor cell death and substantial accumulation of immune cells in the tumors." Regarding Feuerstein's claim that "Under the globally accepted definition of tumor response known as RECIST, a partial response requires a 30% reduction in the size of the target lesion. DCVax-Direct: 0% response rate", Northwest stated that "There are numerous types of established measures of patient responses to treatments. The measures reported in the company's announcement are considered clinically significant and are regularly the focus of peer reviewed scientific and medical publications in oncology, particularly for late stage disease. Further, the RECIST criteria themselves include multiple categories."
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November 25, 2015
09:35 EDTNWBOWoodford turns activist on Northwest Biotherapeutics
Woodford Investment Management transitioned from a passive investor to an active shareholder in Northwest Biotherapeutics after sending a letter to the company's board requesting an independent non-executive director be appointed. In a letter to the board disclosed last night in a regulatory filing, Neil Woodford of Woodford Investment stated, "I am writing to ask you to formally accept our proposal to appoint an independent non-executive director to the Board. As we have stated, we believe that, at your current stage of development, the Company and its shareholders would greatly benefit from the appointment of one or more directors with the skills and experience to provide significant contributions and oversight to the Company's operations and growth." Woodford has also engaged Freeh Group International Solutions to provide risk management services in relation to its investment in Northwest Bio. "These services include the provision of a suitably qualified candidate, Mr Elliott Leary, for appointment to the Company's Board. Following your agreement in principle to this proposal on 13 November, 2015, we submitted a highly qualified candidate who met with the Board last week," the letter to the board stated. Woodford explained, "We believe the candidate's skills are especially suited to the current situation of the Company in relation to the various allegations of financial improprieties and regulatory failure that have been published by at least one anonymous source. We would like to note that we only became aware of certain of these allegations after the completion of our recent investment in the Company comprising US $30 million in new equity." Woodford Investment owns 28.1% of Northwest's outstanding shares. The stock is up 5c to $5.01 in early trading.

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