Northwest Biotherapeutics Announces MOU for Collaboration With the Saudi Pharmaceutical Industries and Medical Appliance Company

Northwest Biotherapeutics, a biotechnology company developing DCVax personalized immune therapies for solid tumor cancers, announced that it has entered into a non-binding Memorandum of Understanding (MOU) with the Saudi Pharmaceutical Industries and Medical Appliance Company (SPIMACO) for a collaboration to bring the Company's DCVax-L products and technology to Saudi Arabia. SPIMACO is one of the largest pharmaceutical companies in Saudi Arabia and a leader in 21 markets across the Middle East North Africa (MENA) region.

The MOU establishes a general framework for discussions for the potential collaboration regarding the approval, commercialization, supply and technology transfer of the Company's DCVax®L product for glioblastoma brain cancer (Product) in Saudi Arabia (Territory). Over time, the collaboration may expand by mutual agreement to include DCVax-L products for other indications in addition to brain cancer, and may expand to include other territories, such as Gulf Cooperation Council (GCC) countries.

The collaboration is based upon a revenue sharing model. Subject to the execution of definitive agreements, the parties currently contemplate that SPIMACO would be responsible for interfacing with the Saudi Food and Drug Authority (SFDA), including the application for approval of DCVax-L for glioblastoma, and would be expected to serve as the Company's commercial partner responsible for marketing, sales and distribution. The Company will provide the data and documentation for regulatory purposes, and will provide scientific support. The Company will also produce and supply the DCVax-L products. The Company retains all ownership of all intellectual property.

The MOU also recognizes that localization and technology transfer are key parts of the contemplated collaboration. Under its Vision 2030 national plan, Saudi Arabia is becoming a regional and global hub for life sciences and biotechnology. Accordingly, the MOU provides for the parties to negotiate a license and technology transfer arrangement that will lead to enablement of localized manufacturing of DCVax-L in Saudi Arabia. The parties will negotiate separate agreements for that stage.

Prof. Ahmed Aljedai, Vice Chairman and Managing Director of SPIMACO, said: "Strategic partnerships are a key enabler of SPIMACO's long-term growth and transformation. This Memorandum of Understanding with Northwest Biotherapeutics reflects our commitment to collaborating with global innovators to strengthen our capabilities in biopharmaceuticals, advance innovation and knowledge transfer, and support the continued development of Saudi Arabia's biotechnology ecosystem in line with the ambitions of Vision 2030 and our commitment to strengthening pharmaceutical security."

Linda Powers, the Company's CEO, commented: "We are excited to join forces with SPIMACO as a leader in Saudi Arabia's building of a major global biotechnology hub. SPIMACO has been developing state-of-the-art facilities and acquiring state-of-the-art technologies for this hub. We are gratified that SPIMACO sees the important potential of DCVax technologies, and we look forward to contributing to these developments."