Neil Woodford has invested £16m in a US biotech company working on brain tumour treatment.
The manager, who now runs his own firm Woodford Investment Management, has invested £16m in Northwest Biotheraputics which is based in Maryland, the Telegraph reports. The company said it would use the additional cash to expand its clinical programme where it plans to run Phase II trials in two cancer variants. It previously produced the first medicine to be fast-tracked by the Department of Health for a brain cancer vaccine. Woodford has a bias towards biotech and pharmaceutical companies within his £3.3bn Woodford Equity Income fund. Some 33% of his fund is allocated to the h...
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