USD1.0 million Debt Financing

    RNS Number : 9023E
  Northwest Biotherapeutics Inc
  02 October 2008
   

 For Immediate Release  2 October 2008



    Northwest Biotherapeutics, Inc.
    (the "Company")

    Northwest Secures US$1.0 million Debt Financing


    BETHESDA, MD - 2 October 2008 - Northwest Biotherapeutics, Inc. (AIM: NWBS and NWBT; OTC BB: NWBO), today announced that it has entered
into a Loan Agreement and Promissory Note (the "Note") with SDS Capital Group SPC, Ltd ("SDS").    Under the Note, SDS has loaned the
Company US$1,000,000. The Note is an unsecured obligation of the Company and accrues interest at the rate of 12% per year. The term of the
Note is six months, with a maturity date of April 1, 2009. The Note may not be prepaid without the consent of SDS. The Note contains
customary representations, warranties, and covenants. In connection with the Note, the Company has issued to SDS a warrant (the "Investment
Warrant") to purchase up to 299,046 shares of the Company's common stock at an exercise price equal to US $0.53 per share, which was the
closing price of the Company's common stock on the AIM market of the London Stock Exchange on October 1, 2008. The Investment Warrant is
exercisable immediately, and expires 5 years from the date of issuance.

    In addition to the Investment Warrant, under the terms of the Note, the Company issued SDS an additional warrant (the "Placement
Warrant") to purchase up to 398,729 shares of the Company's common stock at an exercise price equal to US $0.53 per share. The Placement
Warrant is on the same terms and conditions and in the same form as the Investment Warrant. Accordingly, the Placement Warrant is also
exercisable immediately and expires 5 years after issuance.

    The US$1,000,000 loan received by the Company will be sufficient to fund its cash needs into November 2008. The Company remains in
advanced stage negotiations with several different providers for additional near-term funding of at least US$1,000,000, and for further
financing transactions, which it hopes to complete by the end of the year. 

    The Company will need to raise additional capital to fund its clinical trials and other operating activities and to repay indebtedness.
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 NWBT

    Northwest Biotherapeutics, Inc. is a biotechnology company focused on developing immunotherapy products that treat cancers more
effectively than current treatments, with limited 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 has started, and is
currently enrolling patients in, a Phase I/II trial with DCVax® for recurrent ovarian cancer. 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, including statements concerning the Company's plans to move its programs
forward, statements regarding the Company's clinical trials and other business development activities, and statements regarding its
fundraising activities, 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 risks and uncertainties regarding the Company's ability to secure
additional financing or 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, which could affect the Company's results, is included in its
Securities and Exchange Commission ("SEC") filings, including in the Risk Factors section of the Company's Annual Report on Form 10-K for
the year ended December 31, 2007 and in its recently filed Form S-1. Finally, there may be other factors not mentioned above or included in
the Company's SEC filings or recently filed Form S-1 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.


    For further information, please contact:

 Northwest Biotherapeutics, Inc.
 Alton L. Boynton, Chief Executive Officer                 [phone]

 Buchanan Communications
 Lisa Baderoon ([e-mail]) / Mary-Jane         [phone]
 Johnson / Catherine Breen 

 Collins Stewart Europe Limited
 Adrian Hadden/ Adam Cowen                                 [phone]



This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
MSCFSFSIESASEFS