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

al investor," commented Dr. Alton Boynton.  "It reflects a growing recognition in the investor community of NWBT's progress operationally, and NWBT's significant growth potential."

As the second component of the overall financing arrangements, Toucan Partners has agreed to provide an equity facility to enable NWBT to issue registered, tradable shares for future financings of up to $25 million over a 30-month period.  The shares involved in this equity facility will be registered in several tranches, and the 30-month period will begin on the effective date of the first registration statement.

Any use of this equity facility will be entirely in the Company's discretion.  If the Company elects to make maximum use of the facility, it can potentially cover all of the remaining costs for the ongoing 240-patient GBM brain cancer clinical trial to complete the patient enrollment and reach the primary endpoint of the trial, as well as other near term initiatives.  

Upon notification by the Company, Toucan will be obligated to purchase a specified amount of stock based upon a backward-looking, fixed price formula of ninety-five percent (95%) of the average of the three (3) lowest closing bid prices of the Company's common stock during the fifteen (15) trading days prior to the Company's notification date.  Toucan will receive a one percent (1%) commitment fee for the facility upon execution, and a five percent (5%) fee on the sales of shares under the facility when the sales are executed.

"This equity facility marks an important step in taking control of our own financing destiny, as it will enable us to access a much wider pool of investors who have been expressing interest but can only invest in tradable shares, while also providing the comfort of knowing that the equity facility will be administered by a major shareholder whose interests are aligned with the Company's," commented Dr. Alton Boynton.  "The facility a
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SOURCE Northwest Biotherapeutics, Inc.
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