Northwest Biotherapeutics Announces That Its Acquisition of Advent BioServices Ltd. Has Closed

Core Points - Northwest Biotherapeutics, Inc. has successfully closed the acquisition of Advent BioServices Ltd., making Advent a wholly owned subsidiary [1][2] - The acquisition is expected to enhance operational efficiencies and scale-up capabilities for the company [2][5] - The company will not issue any new shares for the acquisition; instead, 19 million NWBio securities previously issued to Advent will revert back to the company [3][4] Financial Details - The acquisition consideration includes a payment of £1.4 million and the net amount of accounts payable already due from the company to Advent [4] - Payments for the acquisition will be made in installments over two years, starting 90 days after the closing date [4] Strategic Implications - The integration of Advent is anticipated to accelerate the development of additional applications and next-generation technologies [5] - The acquisition will facilitate a fully integrated platform combining the technologies and intellectual property of both companies, leading to streamlined operations and enhanced manufacturing capacity [8] Company Overview - Northwest Biotherapeutics focuses on developing personalized immunotherapy products for cancer treatment, particularly through its DCVax® platform [6] - The company has completed a Phase III trial for its DCVax-L treatment for glioblastoma and is currently awaiting regulatory approval in the UK [6]