Plans to De-list from AIM


 

TIDMNWBS TIDMNWBT 
 
RNS Number : 1441W 
Northwest Biotherapeutics Inc 
23 July 2009 
 

 
 
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| For Immediate Release                   |                           23 July 2009  | 
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("NWBT", "Northwest" or the "Company") 
 
 
 
 
NORTHWEST BIOTHERAPEUTICS ANNOUNCES PLANS TO 
DE-LIST FROM AIM AND CONSOLIDATE ITS STOCK MARKET LISTING IN U.S. 
 
 
BETHESDA, MD - July 23, 2009 - Northwest Biotherapeutics, Inc. (AIM: NWBT and 
NWBS; OTCBB: NWBO) today announces that it will seek shareholder approval for 
the Company to cancel its listing on the London Stock Exchange's AIM market 
("AIM") (the "De-listing"). The Company plans to continue its listing in the 
U.S., on the NASD Over the Counter Bulletin Board Market ("U.S. listing"), and 
plans to file an S1 registration statement under which the stock held on AIM may 
become tradable on the US market. 
 
 
After much review and evaluation, the Company has concluded that it is in the 
best interests of the Company and its shareholders to de-list from AIM. The 
reasons for this include the following: 
 
· The high direct costs of maintaining the Companys AIM listing; 
 
· The operational and legal difficulties of being subject to two different 
regulatory regimes in two different countries, under which the Company has faced 
conflicting requirements on an ongoing basis; 
 
· The management time taken up with the Companys AIM listing; 
 
· The lack of significant liquidity or other current benefits from the Companys 
AIM listing; and 
 
· The ability to continue the Companys U.S. listing, unaffected by the 
De-listing from AIM. 
 
 
The annual meeting of the Company's shareholders will be convened shortly and 
the relevant circular and proxy materials will be mailed to all of the Company' 
shareholders in advance of this meeting. One of the purposes of the meeting and 
the circular and proxy material is to explain the rationale behind the proposed 
de-listing and consolidation of trading in the Company's shares on a single 
market in the U.S.  Shareholders will be asked to vote at the annual meeting or 
through proxies on a resolution to approve the de-listing. Further details will 
be announced in due course. 
 
 
The Company has sufficient cash at hand to fund operations into August, however 
the Company will need to raise additional capital to fund its clinical trials 
and other operating activities, and 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 in a large Phase II clinical trial in GBM, with 13 
clinical sites across the U.S. The Company has also received clearance from the 
FDA for a large Phase III trial in prostate cancer, and for Phase I trials in 
five other cancers. The Company has started, and is currently enrolling patients 
in, a Phase I/II trial with DCVax  for recurrent metastatic ovarian cancer. The 
Company's second technology platform, involving antibodies to CXCR4, is at the 
late pre-clinical development stage. 
 
 
For further information about clinical sites and Company information please 
visit the company web site at www.nwbio.com. 
 
 
 
 
Disclaimer 
 
 
Statements made in this news release that are not historical facts, including 
statements concerning future securities registrations or other filings with the 
U.S. Securities and Exchange Commission ("SEC"), future treatment of patients 
with GBM using DCVax -Brain, and other future clinical trials, are 
forward-looking statements within the meaning of the Private Securities 
Litigation Reform Act of 1995. Words such as "may," "expects," "believes," 
"intends," "anticipates," 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 the SEC's review and evaluation of securities 
registrations or other filings, the Company's 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 related 
to the clinical trials process, uncertainties about the timely performance of 
third parties, and uncertainties about whether the Company's products will 
demonstrate safety and efficacy. Additional information on these and other 
factors, which could affect the Company's results, is included in its SEC 
filings and the Risk Factors section of the Form S-1 that the Cmpany is 
preparing to file. Finally, there may be other factors not mentioned above or 
included in the Company's SEC filings or upcoming Form S-1 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. 
 
 
For further information, please contact: 
 
 
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| Northwest Biotherapeutics, Inc.                                |                      | 
+----------------------------------------------------------------+----------------------+ 
| Alton L. Boynton, Chief Executive Officer                      | +1 240 497 9024      | 
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|                                                                |                      | 
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| Buchanan Communications                                        |                      | 
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| Lisa Baderoon (lisab@buchanan.uk.com) / Mary-Jane Johnson /    | +44 (0)20 7466 5000  | 
| Catherine Breen                                                |                      | 
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| Collins Stewart Europe Limited                                 |                      | 
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| Adrian Hadden/ Adam Cowen                                      | +44 (0)20 7523 8350  | 
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This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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