Equity Financing

 

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RNS Number : 0499N 
Northwest Biotherapeutics Inc 
10 February 2009 
 

 
 
 
 
Northwest Biotherapeutics, Inc. 
("NWBT", "Northwest" or the "Company") 
 
 
Northwest Secures US$700,000 Equity Financing 
 
 
 
 
Bethesda, MD- February 10, 2009 - Northwest Biotherapeutics, Inc. (AIM: NWBS and 
NWBT; OTC BB: NWBO) announces today receipt of US$700,000 in cash from Al Rajhi 
Holdings through the subscription of 1,000,000 new shares in the form of the 
Company's common stock at US$0.70 per share. The new stock is expected to be 
admitted to trading on AIM on 16 February 2009. The shares will not be tradable 
on the Company's OTC bulletin board listing in the US without prior 
registration. 
 
 
The proceeds will be used to support the Company's ongoing working capital 
needs. The Company's directors consider, having consulted with its Nominated 
Advisor, Collins Stewart Europe Limited, that the terms of this financing are 
fair and reasonable in so far as all of its shareholders are concerned. 
 
 
"We are very pleased to have completed another interim financing despite 
severely adverse general market conditions," said NWBT's Chief Executive Officer 
Alton Boynton. "We look forward to continuing the financing discussions 
currently under way with several additional parties for short-term and long-term 
funding of the Company". 
 
 
The US$700,000 received by the Company will be sufficient to fund its cash needs 
during February.  The Company remains in an advanced stage of negotiations with 
several different providers for additional near-term funding and longer term 
funding, which it hopes to complete during H1 of 2009. 
 
 
The Company will need to raise additional capital to fund its clinical trials 
and other operating activities and to repay indebtedness in due course. 
Shareholders should be aware that if the Company's capital raising efforts are 
unsuccessful, this will have a material adverse effect on the Company's 
financial position and operations. 
 
 
 
 
About Northwest Biotherapeutics 
 
Northwest Biotherapeutics is a biotechnology company focused on developing 
immunotherapy products that treat cancers more effectively than current 
treatments, without toxicity, on a cost-effective basis. The Company has two 
broad platform technologies: dendritic cell-based vaccines, and therapeutic 
antibodies. The Company is currently conducting a large clinical trial in 
Glioblastoma multiforme, which is designed and powered to serve as a pivotal 
trial. The Company has also received clearance from the FDA for a large Phase 
III trial in prostate cancer, and clearance from the FDA for Phase I trials in 
five other cancers. The Company also has a second technology platform, involving 
monoclonal antibodies to CXCR4, which is at the late pre-clinical development 
stage. 
 
 
For further information, please visit the company web site at www.nwbio.com. 
 
 
Disclaimer 
 
 
Statements made in this news release that are not historical facts 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. Additional 
information on these and other 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 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. 
 
 
For further information, please contact: 
 
 
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| Northwest Biotherapeutics, Inc.                                |                      | 
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| Alton L. Boynton, Chief Executive Officer                      | [phone]      | 
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|                                                                |                      | 
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| Buchanan Communications                                        |                      | 
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| Lisa Baderoon ([e-mail]) / Mary-Jane Johnson /    | [phone]  | 
| Catherine Breen                                                |                      | 
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|                                                                |                      | 
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| Collins Stewart Europe Limited                                 |                      | 
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| Adrian Hadden/ Adam Cowen                                      | [phone]  | 
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This information is provided by RNS 
            The company news service from the London Stock Exchange 
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