Northwest Biotherapeutics (OTCQB: NWBO) --, a biotechnology company developing DCVax personalized immune therapies for solid tumor cancers, announced today that on November 7, 2018, it completed an aggregate financing of $5 million from long term angel investors.

The notes have a one-year maturity, subject to the Company's right to prepay the loan at any time by paying the principal plus the interest due until maturity, and subject to the holders' rights to require prepayment of the principal and accrued interest after 4 months. The Notes carry an interest rate of 10%, with OID of 5%. The notes carry 50% warrant coverage, with a warrant exercise price of $0.35 per share and an exercise period of 2 years.

The Company also agreed with the Company's CEO, Linda Powers, on further extensions of the Demand Notes relating to the $5.4 million of funding which Ms. Powers provided to the Company in February, March and April of 2018 as a short-term bridge. The further extensions will extend the notes to a maturity of one year from the funding dates. In consideration of this continuing forbearance, the Company will issue 50% warrants with the same exercise price and exercise period as in the angel investors' notes.

The note proceeds are being used for ongoing company programs and operations.

About Northwest Biotherapeutics

Northwest Biotherapeutics is a biotechnology company focused on developing personalized immunotherapy products designed to treat cancers more effectively than current treatments, without toxicities of the kind associated with chemotherapies, and on a cost-effective basis, in both North America and Europe. The Company has a broad platform technology for DCVax® dendritic cell-based vaccines. The Company's lead program is a 331-patient Phase III trial in newly diagnosed Glioblastoma multiforme (GBM). GBM is the most aggressive and lethal form of brain cancer, and is an "orphan disease." The Company is also pursuing a Phase I/II trial with DCVax-Direct for all types of inoperable solid tumor cancers. It has completed the 40-patient Phase I portion of the trial, and is preparing for the Phase II portion. The Company previously conducted a Phase I/II trial with DCVax-L for metastatic ovarian cancer together with the University of Pennsylvania.