31 Years Managing Portfolios At Several Major Wall Street Firms, With Emphasis On Biotech
BETHESDA, Maryland, Feb. 26, 2019 /PRNewswire/ -- Northwest Biotherapeutics (OTCQB: NWBO) ("NW Bio"), a biotechnology company developing DCVax® personalized immune therapies for solid tumor cancers, today announced that it has hired David Innes as Vice President, Investor Relations.
Innes comes to NW Bio with over 31 years of managing portfolios at major Wall Street firms, and a degree in biology. For the last 10 years, Innes has worked as Senior Director-Investments at Oppenheimer & Co., LLC. At Oppenheimer, Innes managed over $175 million in assets with a concentration in emerging biotech companies, including as an advisor to many shareholders at NW Bio. Prior to Oppenheimer, he spent 20 years at UBS, including 10 years as a Vice President of Investments.
Innes noted, "After decades of focusing on small to mid-cap biotech and biomedical companies, I was attracted to NW Bio by what I believe is their broad potential, due to their approach to addressing the complexity of solid tumors which comprise most cancers. Their DCVax technology is precision-tailored to a patient's cancer, while also designed to mobilize a broad-spectrum attack on the cancer. As such, I believe NW Bio's DCVax technology has the potential to be a meaningful therapy for many types of solid tumor cancers."
"I am honored to be joining NW Bio at this pivotal time in the Company's history. I look forward to further strengthening the relationships with both current and prospective retail and institutional shareholders, as well as communicating this DCVax immunotherapy's potential to an ever broader marketplace."
Linda Powers, CEO of NW Bio, noted, "We are pleased to have someone of Dave's experience in the biotech investment community joining us. We see this as an important initial step in expanding our team with first class personnel as we move toward completion of the Phase III DCVax®-L trial for GBM and initiation of Phase II DCVax®-Direct trials. Welcome aboard Dave."
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 North America and Europe. The Company has broad platform technologies for DCVax® dendritic cell-based vaccines. The Company's lead program is a 331-patient Phase III trial of DCVax®-L for newly diagnosed Glioblastoma multiforme (GBM). GBM is the most aggressive and lethal form of brain cancer, and is an "orphan disease." The Company is also pursuing a Phase I/II trial with DCVax®-Direct for all types of inoperable solid tumor cancers. It has completed the 40-patient Phase I portion of the trial, and is preparing for Phase II portions. The Company previously conducted a Phase I/II trial with DCVax®-L for metastatic ovarian cancer together with the University of Pennsylvania.
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, although not all forward-looking statements contain these identifying words. We cannot guarantee that we will achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results may differ materially from those projected in any forward-looking statements. 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 ability to complete its clinical trials on a timely basis, uncertainties about the clinical trial results and data, 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 ongoing ability to raise additional capital, and other risks included in the Company's Securities and Exchange Commission ("SEC") filings. Additional information on the foregoing risk factors and other factors, including Risk Factors, which could affect the Company's results, is included in its 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. 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.