Why did you exclude several key parts of the interview? This article was published over 7 years ago.
Published -November 1, 2011
CEOCFO: Where are you in the process?
Ms. Powers: We are pretty late-stage in the process. It takes an exceptionally long amount of time and an exceptionally large amount of money to develop a new medical product. It takes more than a decade of time and usually hundreds of millions of dollars. We are more than a decade into this. We spent more than a decade in clinical trials and we are now in what we hope will be the last clinical trial for the lead product that we have, which is an immune therapy for brain cancer. So, we are now on the home stretch. We are down to the last eighteen to twenty-four months after more than a decade of work up till now.
CEOCFO: What is the financial picture like today for Northwest Biotherapeutics?
Ms. Powers: The financial picture is stronger than it has been at any time in the last five to six years, which is quite exciting for us. Early in the summer we closed two significant financings -- significant in the scheme of things for the company. Those two together totaled about $7.5 million, and we also entered into an agreement for a financing facility for up to $25 million ontop of that $7.5 million. That facility is essentially equivalent to a shelf registration. With those financing mechanisms as well as some ongoing interest from investors who already have positions in the company, we feel like we are really strongly positioned financially for this home stretch push. I have to say that, like all small biotech companies, for Northwest the Great Recession was really tough, and the company made it through that very, very tough period on a shoestring, while a lot of small biotech companies did not make it through. We are quite excited to have come out the other side and now to have these major financings in place. So, things are looking bright.
