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July 10, 2007

Northwest Biotherapeutics gets Swiss jolt

Posted by Angel Gonzalez at 5:40 PM

It seems Northwest Biotherapeutics, a local biotech once derided by U.S. capital markets, is benefitting from the Alpine climate.

Shortly after its debut at London Stock Exchange's stock market for small caps, the company said that Swiss regulatory authorities approved the use of its brain cancer therapeutic vaccine.

The announcement, sent the stock into a wild ride Monday, closing 36 percent higher in London's Alternative Investment Market. The stock jumped even higher on Tuesday --- to an unbelievable 280 pence, up 104 percent.

Not bad for a Bothell-based company that was once kicked out of Nasdaq for running out of cash.

Chief Executive Alton Boynton said:

"Switzerland is an attractive place to begin commercialization, due to its highly respected regulatory oversight, and its growing experience with cellular therapies. Switzerland is also increasingly noted for medical tourism, and is easily accessible for many medical tourists."

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