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Northwest Biotherapeutics Announces $15 Million Financing | Pharmtech Focus

November 30 2021

Northwest Biotherapeutics Announces $15 Million Financing

Northwest Biotherapeutics (OTCQB: NWBO) (“NW Bio”), a biotechnology company developing DCVax® personalized immune therapies for solid tumor cancers, today announced the closing of a $15 million financing on November 22, 2021, which brought the Company’s cash reserves above $20 million.

The Company plans to use the funding to help accelerate its activities related to its brain cancer program.  The financing is in the form of a 22-month loan which requires no payments for 8 months, and then provides for a subsequent 14-month amortization period. The loan has a provision for prepayment, an annualized interest rate of 8% and OID of 10%.  Upon announcement of the top line data (“TLD”) from the Company’s Phase III clinical trial of DCVax®-L for Glioblastoma brain cancer, the lender will have a then-springing right to exchange the outstanding balance of the loan for common shares priced at the price of the first private placement transaction following TLD less a 12% discount, and to purchase another 50% of that number of shares at the same price.  This then-springing right expires 14 days after that post-TLD private placement. 

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Northwest Biotherapeutics | Pharmtech Focus

Northwest Biotherapeutics
  1. Eloxx Pharmaceuticals Announces Final Data Assessment from Phase 2 Combination Clinical Trial of ELX-02 in Class 1 Cystic Fibrosis Patients

    Clinical Trials

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  2. Verge Genomics Announces Positive Safety and Tolerability Data from the Phase 1 Clinical Trial of VRG50635, a Potential Best-in-Class Therapeutic for All Forms of ALS

    Clinical Trials

     Read more
  3. DEM BioPharma Appoints Wendy Young, Ph.D., to Scientific Advisory Board

    Appointments

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  4. Confo Therapeutics Enters into Research Collaboration for GPCR-Targeting Antibody Discovery with AbCellera

    News

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  5. Vyriad Announces Expansion of T-Cell Lymphoma Trial at Mayo Clinic

    Clinical Trials

     Read more
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