NORTHWEST BIOTHERAPEUTICS, INC. (OTCMKTS:NWBO) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.
| Entry into a Material Definitive Agreement. |
Commencing March 1, 2017, Northwest Biotherapeutics, Inc. (the
Company) entered into a series of six nonconvertible, promissory
notes with unrelated third parties (the Notes) in the original
principal amount of $2,020,000 with an original issuance discount
of 3% for aggregate net proceeds of $1,959,400 without interest.
The Notes have a six-month maturity, may be prepaid without
penalty by the Company prior to maturity and the lenders maintain
an option to require payment prior to maturity upon the Companys
raising a minimum of $15 million. On March 3, 2017, the Company
entered into an additional nonconvertible, promissory note with
an unrelated third party in the original principal amount of
$1,155,000 with an original issuance discount of 10% for
aggregate net proceeds of $1,000,000 with interest at 8% per
annum. Such note has a six-month maturity, may be prepaid without
penalty by the Company prior to maturity and the lender maintains
an option to require payment prior to maturity upon the Companys
raising a minimum of $5 million.
| Item 2.03 |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information contained above in Item 1.01 is hereby
incorporated by reference into this Item 2.03.
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. NORTHWEST BIOTHERAPEUTICS, INC. (OTCMKTS:NWBO) Recent Trading Information
NORTHWEST BIOTHERAPEUTICS, INC. (OTCMKTS:NWBO) closed its last trading session down -0.001 at 0.368 with 555,648 shares trading hands.