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Northwest Secures US$1.65 Million Debt Financing
Date:11/6/2008

Proceeds Include Strategic Funding of Operations Outside the US In

Locations Other Than Switzerland

BETHESDA, Md., Nov. 6 /PRNewswire-FirstCall/ -- Northwest Biotherapeutics, Inc. (OTC Bulletin Board: NWBO; AIM: NWBS and NWBT), today announced that it has obtained US$1.65 million in funding pursuant to Loan Agreements and Promissory Notes (the "Notes") with SDS Capital Group SPC, Ltd ("SDS") and a group of private investors (the "Private Investors"). A significant portion of the proceeds will provide strategic funding for expansion of NWBT's programs and capacity outside the United States, in locations other than Switzerland.

Under the Notes, SDS and the Private Investors have loaned the Company US$1.65 million. The Notes are unsecured obligations of the Company and accrue interest at the rate of 12% per year. The maturity date of the notes will be April 21, 2009. The Notes carry 50% warrant coverage (i.e., the aggregate exercise price of the Warrants will be equal to fifty percent of the financing). The Warrants will be exercisable for common stock of the company at a price of US$0.41, per share (the "Warrants"). The Warrants are exercisable immediately, and will expire 5 years from the date of issuance. The Notes may be prepaid at the discretion of the Company at any time prior to maturity, without any prepayment penalty; however, prepayment will not affect the Warrants.

The Company granted SDS and the Private Investors piggyback registration rights for any shares of the Company's common stock issued under the Notes. The Notes also contain customary representations, warranties and covenants. SDS will receive certain rights relating to subsequent financings, subject to the Company's right to pre-pay SDS and avoid the rights being triggered. Under these rights, the Company will notify SDS of any subsequent financings that take place while this SDS Note is outstanding, and SDS will have an opportunity to participat
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SOURCE Northwest Biotherapeutics, Inc.
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