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Northwest Biotherapeutics Raises Funding and Proceeds With Balance Sheet Restructuring
Date:7/7/2010

BETHESDA, M.D., July 7 /PRNewswire-FirstCall/ -- Northwest Biotherapeutics, Inc. ("NWBT" or the "Company") (OTC Bulletin Board: NWBO), developer of the DCVax® personalized cancer vaccines, announced today that during the second quarter it raised funding of $2.65 million from investors.  The funding included $1.75 million in purchases of restricted common stock of the Company (the "Common Stock") by a number of private investors, together with purchases of restricted Common Stock totaling $900,000 by SDS Capital and by Ms. Linda F. Powers, Chair of the Company's Board.  The Company also continued to make progress on restructuring of its balance sheet, through debt conversions and extensions with its largest debt holders.  The new investment by SDS Capital was part of a larger restructuring transaction with SDS.

The $1.75 million in purchases of Common Stock by private investors were made at a price of seventy-five cents ($0.75) per share, with ten percent (10%) warrant coverage.

The restructuring transaction with SDS Capital was undertaken pursuant to a Conversion and Extension Agreement, which included the conversion or extension of all outstanding debt held by SDS, as well as new investment of $250,000 by SDS.  Prior to this Agreement, SDS was the second largest holder of investment debt of the Company.

As previously reported, the Company already entered into an agreement with the Al Rajhi Group in March, 2010, for the extension of all outstanding debt held by Al Rajhi. The Al Rajhi Group is the largest holder of investment debt of the Company.


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SOURCE Northwest Biotherapeutics, Inc.
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