NW Bio Enters Into Agreement For $30M Of New Equity Funding From Woodford Investment Management

Northwest Biotherapeutics

announced today that the Company has entered into agreement for funding of $30 million from Woodford Investment Management in the UK ("Woodford"). Woodford will purchase $30 million of the Company's common stock at $5.50 per share, for a total of 5,454,545 shares, raising Woodford's total holdings to 25,915,937 shares, or about 28.1% of the Company.  The purchase will take place in a closing on or before October 22, 2015. NW Bio also announced that it has engaged Ondra Partners (www.ondra.com), a London-based corporate finance firm with a focus on value creation and an integrated approach to medium and long term financing and related initiatives. In connection with this financing, the Company has issued 0.7 million shares to Cognate BioServices on the same terms as Woodford's stock purchase, for certain current payment obligations, as well as completing the issuance of shares to Cognate that were approved and reported in November 2014, but had not yet been issued. "NW Bio has reported encouraging interim clinical data from both its DCVax-L and DCVax-Direct clinical programs, both last