NWBio Expands with Advent BioServices Acquisition to Drive Growth

Northwest Biotherapeutics, Inc. a biotechnology company developing DCVax personalized immune therapies for solid tumor cancers, announced that it has entered into an agreement to acquire Advent BioServices Ltd. from its owner, Toucan Holdings LLC. The transaction is expected to close as soon as certain legal conditions are fulfilled. At closing, Advent will become a wholly owned subsidiary of the Company, and this is expected to enable the Company's operations to become fully integrated. The acquisition is also expected to enhance the Company's positioning for scale-up of operations, and yield important synergies and cost savings.

As part of the acquisition, the Company will receive all of Advent's fixed assets, including extensive cryostorage and other equipment purchased by Advent over the last several years. In addition, 19 million NWBio securities that were previously issued to Advent as payment for contract services will revert back to the Company (13.5 million shares and 5.5 million options). Certain intellectual property and other intangibles that Advent has acquired will also transfer to the Company.

"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."