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news.Northwest Biotherapeutics, a biotechnology company, has received $700,000 in cash from Al Rajhi Holdings through the subscription of one million new shares in the form of the company's common stock at $0.70 per share. The proceeds will be used to support the company's ongoing working capital needs.
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Alton Boynton, Northwest Biotherapeutics’s CEO, said: “We are very pleased to have completed another interim financing despite severely adverse general market conditions. We look forward to continuing the financing discussions currently under way with several additional parties for short-term and long-term funding of the company.”