Northwest Biotherapeutics to Acquire Advent BioServices Ltd. for Enhanced Operations and Synergies

Northwest Biotherapeutics has agreed to acquire Advent BioServices Ltd. from Toucan Holdings LLC. The acquisition is expected to close soon, enabling the Company's operations to become fully integrated, enhancing its positioning for scale-up, and yielding important synergies and cost savings. The Company will receive Advent's fixed assets, intellectual property, and 19 million NWBio securities that were previously issued to Advent. The consideration for the acquisition will be paid in installments over two years.

Northwest Biotherapeutics, Inc. (OTCQB:NWBO), a biotechnology company focused on personalized immunotherapy for solid tumor cancers, has announced an agreement to acquire Advent BioServices Ltd. from Toucan Holdings LLC. The acquisition is expected to close soon, subject to certain legal conditions, and will enable the Company's operations to become fully integrated, enhancing its positioning for scale-up and yielding important synergies and cost savings.

Under the terms of the agreement, Northwest Biotherapeutics will receive all of Advent's fixed assets, including extensive cryostorage and other equipment, as well as 19 million NWBio securities previously issued to Advent. Additionally, certain intellectual property and other intangibles acquired by Advent will transfer to Northwest Biotherapeutics.

The acquisition is part of a strategic plan to consolidate the operations of the London GMP facility and the Sawston GMP facility, with a focus on ramping up manufacturing in Sawston. This move is expected to facilitate the implementation of these plans and increase operational efficiency.

The consideration for the acquisition will be paid in installments over two years, beginning 90 days after the acquisition agreement, with potential acceleration after regulatory approval of Northwest Biotherapeutics' DCVax®-L product. The consideration includes a payment of £1.4 million and the net amount of accounts payable due from the Company to Advent as of the date of the acquisition agreement.

"This is an exciting day for the Company, entering into an agreement to bring its manufacturing and product development operations in-house," commented Linda Powers, the Company's CEO. "We believe this is an opportune time to join forces under one roof, integrating our teams, streamlining our processes, increasing our efficiency and preparing for potential substantial scale-up of our capacity."

Northwest Biotherapeutics has a broad platform technology for DCVax® dendritic cell-based vaccines and is focused on developing personalized immunotherapy products that are designed to treat cancers more effectively than current treatments, without toxicities associated with chemotherapies, and on a cost-effective basis. The Company's lead program involves DCVax®-L treatment for glioblastoma (GBM), an orphan disease. The Company has completed a 331-patient Phase III trial of DCVax-L for GBM, presented the results in scientific meetings, published the results in JAMA Oncology, and submitted a Marketing Authorization Application (MAA) for commercial approval in the UK. The MAA is currently undergoing review.

References:
[1] https://www.marketscreener.com/news/northwest-biotherapeutics-announces-agreement-to-acquire-advent-bioservices-ltd-ce7c50ded188f624
[2] https://finance.yahoo.com/news/advent-technologies-pursuing-trailblazing-initiatives-123000104.html