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(OTCBB:NWBO) Northwest Biotherapeutics, Inc.
BETHESDA, Md. -- Northwest Biotherapeutics, Inc. , recently announced that it has entered into a Loan Agreement and Promissory Note with SDS Capital Group SPC, Ltd . 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 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.
Profile for Northwest Biotherapeutics, Inc.
Northwest Biotherapeutics, Inc., a development stage biotechnology company, engages in the discovery, development, and commercialization of immunotherapy products that generate and enhance immune system responses to treat cancer. Its technology platforms include dendritic cell-based cancer vaccines (DCVax) and monoclonal antibodies for cancer therapeutics. The company's primary products include DCVax-Prostate for the treatment of hormone independent nonmetastatic prostate cancer, which cleared Phase III clinical trial; DCVax-Brain, which is in Phase II clinical trial, for the treatment of Glioblastoma multiforme; and DCVax-LB, which cleared Phase I clinical trial for the treatment of non-sma...
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