Northwest Biotherapeutics (OTCQB: NWBO), a biotechnology company developing DCVax personalized immune therapies for solid tumor cancers, today announced that the Company has completed a non-dilutive debt financing for net proceeds of another $5 million.

The Company anticipates that this financing will help further build the Company's momentum by providing resources for expansion of production capacity and for ramp up of certain readiness activities as the Company approaches the readout of topline data from its Phase III trial of DCVax®-L for Glioblastoma.

The Company entered into this 21-month Note (the "Loan") on August 17, 2020 for $5,505,000 at an 8% annualized interest rate, with no payments due for the first 7 months. Prepayment of the Loan can be made at any time with a 15% prepayment penalty. If the Loan remains outstanding past month 8, it will be amortized through month 21 with monthly payments of 110% of 14 equal monthly principal payments. The note also includes a $500,000 original issue discount. The lender is Iliad Research and Trading, LP.

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 of DCVax®-L for 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 development of DCVax®-Direct for inoperable solid tumor cancers. It has completed a 40-patient Phase I trial, and is preparing for Phase II trials. The Company previously conducted a Phase I/II trial with DCVax-L for advanced ovarian cancer together with the University of Pennsylvania.