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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

     Read more
  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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