Navigation Links
Northwest Bio Announces Transactions for $5.4 Million in New Financing

BETHESDA, Md., Nov. 17, 2011 /PRNewswire/ -- Northwest Biotherapeutics (OTC.BB: NWBO) (Northwest Bio) today announced $2.4 million in new funding under favorable loan terms, as well as an agreement to purchase the first $3 million in shares of common stock under the previously announced agreement for an equity facility of up to $25 million over a 30-month term.


The $2.4 million is comprised of two loans, both from existing non-affiliate investors. One loan is for $2 million with an interest rate of 6% and a maturity of 6 months, 30% warrant coverage at an exercise price substantially above the current market price ($.57 per share), and no convertibility. The second loan is for $400,000, with an interest rate of 6% and a maturity of 2 years, no warrants, original issue discount of 10%, and convertibility at a 10% discount from the market price at the time of conversion.

An existing non-affiliate investor has also entered into a Purchase Agreement to purchase the first $3 million of newly issued shares of common stock under the Company's pending equity facility, at a 5% discount from the current market price at the time of the stock purchases.  

As announced in June, the equity facility will involve filing a Registration Statement and will enable the Company to issue up to $25 million of common stock over a 30-month period.  All use of the facility will be at the Company's sole discretion.  The Company previously entered into an overall agreement with Toucan Partners for this equity facility, in order to ensure that the facility would be administered in a positive and beneficial manner for the Company.  The agreement with Toucan expressly contemplated that a series of investors would commit to purchase portions of the overall amount of stock to be issued.  With an agreement now in place for the first $3 million of such stock purchases to be made by an existing investor, in a series of transactions based upon the market price and trading volume of the stock, the Company plans to proceed rapidly with the Registration Statement.

Linda Powers, CEO of Northwest Bio observed, "We are pleased to see the growing investor interest in providing further financing to the Company.  These positive financial arrangements will help us continue to ramp up and accelerate our programs, including our 240-patient clinical trial of DCVax® for Glioblastoma multiforme (GBM) brain cancer in both the US and Europe."

About Northwest Biotherapeutics

Northwest Biotherapeutics is a biotechnology company focused on developing immunotherapy products to treat cancers more effectively than current treatments, without toxicities of the kind associated with chemotherapies, and on a cost-effective basis in both the US and Europe.  The Company has a broad platform technology for dendritic cell-based vaccines.  The Company's lead clinical trial is a 240-patient Phase II trial in newly diagnosed Glioblastoma multiforme ("GBM"), the most aggressive and lethal brain cancer.  The Company also previously received clearance from the FDA for a 612-patient Phase III trial in prostate cancer, and clearance from the FDA for Phase I trials in multiple other cancers.  The Company has also conducted a Phase I/II trial with DCVax® for recurrent metastatic ovarian cancer.  For further information about clinical sites and about the Company, please visit the Company's web site at


Statements made in this news release that are not historical facts, including statements concerning future treatment of patients with GBM using DCVax® and future clinical trials, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Words such as "expects," "believes," "intends," and similar expressions are intended to identify forward-looking statements.  Actual results may differ materially from those projected in any forward-looking statement.  Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated, such as the Company's ability to raise additional capital, risks related to the Company's ability to enroll patients in its clinical trials and complete the trials on a timely basis, the uncertainty of the clinical trials process, uncertainties about the timely performance of third parties, and whether the Company's products will demonstrate safety and efficacy.  Additional information on these and other factors, including Risk Factors, which could affect the Company's results, is included in its Securities and Exchange Commission ("SEC") filings.  Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from those projected in any forward-looking statement.  You should not place undue reliance on any forward-looking statements.  The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by securities laws.    

SOURCE Northwest Biotherapeutics
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Northwest Bio to Present at Society of Neuro-Oncology Annual Meeting
2. NORTHWEST BIO Announces Initiation of S&P Coverage, With Publication of First Company Stock Report
3. Bacterin Awarded Approved Vendor Status for American Medical Concepts Network of Hospitals in the Northwest U.S.
4. Northwest Biotherapeutics Further Expands Ongoing Brain Cancer Trial
5. Northwestern Survey Finds FDA Predictability a Top Concern Among Medtech Firms; Europe Preferred for Product Approval
6. Northwestern Memorial Maintains Top Status in Nursing Hospital Renewed for Nurse Magnet®
7. Lung Cancer Patients the Centerpiece for Northwestern Medicine Quality of Care Study
8. Swedish Cancer Institute and Elekta Launch Renewed Partnership Agreement to Continue the Flow of World-Class Technology, Services to Cancer Patients in the Pacific Northwest and Beyond
9. Northwest Biotherapeutics Receives Approval of US Patent for Cost Saving Automation of High-Concentration DCVax(R) Manufacturing
10. New Implant Device Remotely Monitors Heart Failure Patients at Northwestern Memorials Bluhm Cardiovascular Institute
11. CellCyte Genetics Signs Collaborative Agreement With Northwestern Universitys Feinberg School of Medicine to Perform Disease Model Outcome Study of CellCytes CCG-TH30 Product Candidate
Post Your Comments:
(Date:12/1/2015)...  The migration to value-based care will require ... that help patients stay healthy and reduce healthcare ... enabled, incorporate care guidelines and be reflective of ... also allow all stakeholders to collaborate across care ... That is the vision, however, research by Chilmark ...
(Date:12/1/2015)... -- --> --> ... (NKI-AVL), among the world,s largest and most prestigious ... Icon™, the company,s latest generation stereotactic radiosurgery system ... --> With the option to use ... Knife Icon offers greatly enhanced flexibility in how ...
(Date:12/1/2015)... , December 1, 2015 ... segments the concerned market with analysis and forecast of ... orthobiologics report defines and segments the concerned market with ... to the Market Research Report "North American Orthobiologics Market ... Factors & Spinal Stimulation, Stem Cell Therapy, Viscosupplementation), by ...
Breaking Medicine Technology:
(Date:12/1/2015)... ... December 01, 2015 , ... PYA’s latest ... Integration ,” addresses a main “pain point” for merging or aligning healthcare provider ... a deal is signed. This quick-read guidance suggests that failing to recognize ...
(Date:12/1/2015)... ... December 01, 2015 , ... Nurotron Biotechnology Co., Ltd., ... largest order to date. , The order will be from the China Disabled ... Cochlear Implant System is an effective solution for children and adults suffering from ...
(Date:11/30/2015)... ... November 30, 2015 , ... ... companies, announced today that it has officially launched a sleek, mobile-ready and user-centric ... that his company’s new website clearly outlines the benefits that its SEO services ...
(Date:11/30/2015)... , ... December 01, 2015 , ... ... Christina Colon as a 2015-2016 inductee into its VIP Woman of the ... NAPW is the nation’s leading networking organization exclusively for professional women, boasting 850,000 ...
(Date:11/30/2015)... MN (PRWEB) , ... December 01, 2015 , ... ... is the latest carrier to offer individual vision insurance plans on ... the unique ability to rate and review products, allowing consumers to compare, quote ...
Breaking Medicine News(10 mins):