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Northwest Biotherapeutics Announces Series of Financing Arrangements
Date:6/5/2011

BETHESDA, Md., June 5, 2011 /PRNewswire/ -- Northwest Biotherapeutics (OTC.BB: NWBO) today announced that it has put in place a series of financing arrangements, including a $3 million investment already received, and access to up to $25 million of further funding on fixed, specified and favorable terms, at such times and in such amounts as the Company chooses.  This series of financing arrangements will provide a strong financial foundation for completion of the Company's ongoing 240-patient clinical trial of DCVax®-L for the treatment of Glioblastoma multiforme (GBM) brain cancer, and will also provide for certain other programs in the Company's near term pipeline.

(Logo:  http://photos.prnewswire.com/prnh/20110329/SF73084LOGO)

As the first component of the overall financing arrangements, the initial $3 million investment has been provided by a multi-billion dollar institutional investment fund based in Minnesota.  The investment is structured as a convertible note with warrants.  The note is not convertible until maturity, 18 months after closing, and is only convertible into unregistered restricted stock at that time.  The conversion price of the note is a fixed, specified price per share, at a three percent (3%) discount from the market price at the time of the note agreement (the volume weighted average price over the 10 trading days ending on the May 31st closing date), and the warrant coverage is one hundred percent without any cashless exercise provision.

As such, this $3 million investment reflects a long-term interest in the Company on the part of the investor, and will provide for the continued acceleration of the Company's GBM brain cancer clinical trial while the arrangements for the $25 million follow-on facility are being implemented.

"We are pleased to receive strong support and long-term interest from a major institution
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SOURCE Northwest Biotherapeutics, Inc.
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