Northwest Biotherapeutics, Inc. (OTCMKTS:NWBO) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.

On May 20, 2020, Northwest Biotherapeutics, Inc. (the “Company”) entered into a Note Purchase Agreement and Note (collectively, the “Note”) with Iliad Research and Trading, L.P. (the “Holder”) in the amount of $1,655,000. The Note has a maturity of 21 months. There are no repayments during the first 7 months of the term. During months 8 through 21, the Note will be amortized in monthly installments of 110% of the pro rata principal amount. Interest on the Note accrues at a rate of 8% per annum, and the Note includes an original issue discount of $150,000.

The Note contains customary default provisions, including provisions for potential acceleration of the Note and default interest.

The information included in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

About Northwest Biotherapeutics, Inc. (OTCMKTS:NWBO)

Northwest Biotherapeutics, Inc. is a biotechnology company. The Company is focused on developing immunotherapy products to treat cancer. One of the product lines (DCVax-L) is designed to cover all solid tumor cancers in which the tumors can be surgically removed. Another product line (DCVax-Direct) is designed for all solid tumor cancers. The Company’s lead product, DCVax-L, is in an ongoing Phase III trial for diagnosed Glioblastome multiforme (GBM), with over 60 trial sites. Its second product, DCVax-Direct, is being studied in a 60-patient Phase I/II trial for all types of inoperable solid tumors. The 40-patient Phase I stage of the trial has been completed. The Company is working on preparations for Phase II trials of DCVax-Direct. The Company’s platform technology, DCVax, uses activated dendritic cells to mobilize a patient’s own immune system, including T cells, B cells and antibodies and natural killer cells, among others to attack cancer cells to attack their cancer.