AZN

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

News provided by

Oct 24, 2025, 12:03 ET

BETHESDA, Md., Oct. 24, 2025 /PRNewswire/ -- Northwest Biotherapeutics, Inc. (OTCQB:NWBO) (the "Company" or "NWBio"), a biotechnology company developing DCVax® personalized immune therapies for solid tumor cancers, announced that its acquisition of Advent BioServices Ltd. ("Advent") has closed. As a result of this acquisition, Advent is now a wholly owned subsidiary of NWBio.

The Company anticipates that this acquisition will help enable efficiencies and scale-up of operations. The Company believes that integration of the companies can result in:

A fully integrated platform combining the technologies, expertise and intellectual property of NWBio, Advent and Flaskworks;
Streamlining and efficiencies in supply chain management and facilities management;
Closing of operations at the GMP facility in London and reallocation of resources to the Sawston, UK facility and to capacity development in the US;
Facilitating scale-up of manufacturing capacity;
Streamlining and efficiencies in interactions with clinical sites and distribution of DCVax products.
As previously announced, through the acquisition of Advent, NWBio is receiving all of Advent's fixed assets, including extensive cryostorage and other equipment purchased by Advent over the last several years. Intellectual property and other intangibles that Advent had acquired are also included.

The Company is not issuing any shares or other securities in connection with acquiring Advent. On the contrary, 19 million NWBio securities (13.5 million shares and 5.5 million options) that were previously issued to Advent as payment for contract services are reverting back to the Company along with the acquisition of the other Advent assets.

The consideration for the acquisition will be paid in installments over two years, with potential acceleration after regulatory approval of the Company's DCVax®-L product. The consideration consists of a payment of £1.4 million and payment of the net amount of accounts payable ("Net AP") already due from the Company to Advent for services under existing contracts. The acquisition agreement was updated to provide that the installment payments will not begin until 90 days after the October closing, rather than 90 days after the August agreement, and the Net AP is likewise being determined as of the closing date.

"We are excited to have completed the necessary conditions for closing the acquisition of Advent, and to be moving into position for potential significant scale-up," commented Linda Powers, the Company's CEO. "We believe this integration can also help accelerate development of additional applications and next-generation versions of our technologies, applying the combined expertise and the large portfolio of intellectual property that we have amassed. We believe this represents important progress in building a dominant franchise."

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