NorthWest Biotherapeutics Inc (NWBO)

[DocLee]

I would suspect that this says a great deal about Woodford's investing ethos for his particular (adventurous/cutting edge) funds and explain why he is still invested in NWBO despite the less than happy relationship with Mrs Powers.

He may think that LP is someone who is only a few steps above AF for reliability and honesty (purely my own conjecture), but he clearly places more reliance on the process he is investing in and on the persona/quality of the scientist(s) behind the process. In NMBO's case he clearly believes in the science that underpions DCVAX and has confidence in Linda Lau (and UCLA) and the other scientists/clinicians involved and that is enough for him, although I'm absolutely sure that in retrospect he would have preferred a CEO other than Mrs Powers. If he didn't believe in the process I have no doubt he would have sold a long time ago and put his somewhat depleted returns into something that he felt to be more likely to succeed.

With this new venture he clearly believes in the process (CAR-T) as well as the Prof. Lowdell (and UCH) who is behind the new company. The fact that Mrs Powers is also involved clearly doesn't faze Mr Woodford (although I bet he would prefer her not to be involved).