NW Bio Announces Annual Meeting Results, Re-Election of Directors
BETHESDA, Md., Dec. 21, 2015 /PRNewswire/ -- Northwest Biotherapeutics (NASDAQ: NWBO) ("NW Bio"), a U.S. biotechnology company developing DCVax® personalized immune therapies for solid tumor cancers, announced today the results of its 2015 Annual Shareholder Meeting, held on Friday, December 18, 2015. There were three matters subject to a shareholder vote: the re-election of Linda Powers and Dr. Navid Malik as Directors for 3-year terms, and the re-appointment of the Company's auditors, Marcum LLP. NW Bio has a staggered Board, with one or two of the current five Directors up for re-election each year, and with each election being for a 3-year term.
Ms. Powers was re-elected with over 82% of the vote, Dr. Malik was re-elected with over 80% of the vote and Marcum was re-appointed with over 85% of the vote.
"We greatly appreciate the high turnout and the strong support from our shareholders," commented Linda Powers, CEO. "The support is particularly gratifying after the waves of false and misleading attacks upon the Company and its Directors and Managers personally, in recent months, many of them anonymous. Such attacks divert Company time, attention and resources. Despite this, we remain committed to our mission, and in March, May and September we reported encouraging data from our DCVax-L and DCVax-Direct programs. We also look forward to making more progress in the New Year."
"We encourage any interested parties to review the most recent data from both programs that was presented on September 16 and that can be found in slides 21, 37 and 38 of the slide deck on the home page of the Company's website (www.nwbio.com)."
"We are very pleased that Dr. Malik is willing to serve for another 3-year term, as we believe his expertise in the biotech and pharma sector is of great value for NW Bio. I, too, am looking forward to serving another term on NW Bio's Board as we work toward bringing our DCVax treatments to patients with some of the most lethal cancers, who need new and better treatment options."
About Northwest Biotherapeutics
Northwest Biotherapeutics is a biotechnology company focused on developing personalized immunotherapy products designed to treat cancers more effectively than current treatments, without toxicities of the kind associated with chemotherapies, and on a cost-effective basis, in both the United States and Europe. The Company has a broad platform technology for DCVax dendritic cell-based vaccines. The Company's lead program is a 348-patient Phase III trial in newly diagnosed Glioblastoma multiforme (GBM), which is on a partial clinical hold in regard to new screening of patients. GBM is the most aggressive and lethal form of brain cancer, and is an "orphan disease." The Company is under way with a 60-patient Phase I/II trial with DCVax-Direct for all types of inoperable solid tumors cancers. It has completed enrollment in the Phase I portion of the trial. The Company previously conducted a Phase I/II trial with DCVax-L for metastatic ovarian cancer together with the University of Pennsylvania. The Company previously received clearance from the FDA for a 612-patient Phase III trial in prostate cancer. In Germany, the Company has received approval of a 5-year Hospital Exemption for the treatment of all gliomas (primary brain cancers) outside the clinical trial.
Statements made in this news release that are not historical facts, including statements concerning future treatment of patients using DCVax and future clinical trials, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expect," "believe," "intend," "design," "plan," "continue," "may," "will," "anticipate," 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, such as risks related to the Company's ongoing ability to raise additional capital, risks related to the Company's ability to enroll patients in its clinical trials and complete the trials on a timely basis, uncertainties about the clinical trials process, uncertainties about the timely performance of third parties, risks related to whether the Company's products will demonstrate safety and efficacy, risks related to the Company's and Cognate's abilities to carry out the intended manufacturing and expansions contemplated in the Cognate Agreements, risks related to the Company's ability to carry out the Hospital Exemption program and risks related to possible reimbursement and pricing. Additional information on these and other factors, including Risk 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 from 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.
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SOURCE Northwest Biotherapeutics