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

Rhea-AI Summary

Northwest Biotherapeutics (OTCQB:NWBO) announced on October 24, 2025 that its acquisition of Advent BioServices Ltd. has closed and Advent is now a wholly owned subsidiary.

The deal transfers Advent's fixed assets, cryostorage equipment, intellectual property and intangibles to NWBio; 19 million NWBio securities previously issued to Advent (13.5M shares and 5.5M options) are reverting back to the company. Consideration includes £1.4 million plus the net accounts payable due to Advent, payable in installments over two years with possible acceleration after regulatory approval of DCVax-L. The company expects operational consolidation, GMP facility closure in London, reallocation to Sawston and U.S. capacity development, and manufacturing scale-up.

Positive

• Advent assets acquired: fixed assets, cryostorage, IP
• Reversion of 19M securities (13.5M shares, 5.5M options)
• Potential manufacturing scale-up and supply-chain efficiencies
• London GMP operations closing; resources reallocated to Sawston and U.S.

Negative

• Consideration includes £1.4M plus Net AP payable over two years
• Installment payments depend on regulatory timing and may accelerate

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." 

About Northwest Biotherapeutics

Northwest Biotherapeutics is a biotechnology company focused on developing personalized immunotherapy products that are designed to treat cancers more effectively than current treatments, without toxicities of the kind associated with chemotherapies, and on a cost-effective basis. The Company has a broad platform technology for DCVax^® dendritic cell-based vaccines. The Company's lead program involves DCVax^®-L treatment for glioblastoma (GBM). GBM is the most aggressive and lethal form of primary brain cancer, and is 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 MAA for commercial approval in the UK. The MAA is currently undergoing review. The Company has also developed DCVax^®-Direct for inoperable solid tumor cancers. It has completed a 40-patient Phase I trial and is planning for Phase II trials. The Company previously conducted a Phase I/II trial with DCVax-L for advanced ovarian cancer together with the University of Pennsylvania.

Disclaimer

Statements made in this news release that are not historical facts, including statements concerning plans for DCVax^® are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expect," "believe," "intend," "design," "plan," "continue," "may," "will," "anticipate," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those projected in any forward-looking statement. Readers should not rely upon forward-looking statements. There are a number of important factors that could cause actual results to differ materially from those anticipated, including, without limitation, risks related to delays or uncertainties in regulatory processes and decisions, risks related to the Company's ability to achieve timely performance of third parties, risks related to whether the Company's products will be viewed as demonstrating safety and efficacy, risks related to the Company's ongoing ability to raise additional capital, and other risks included in the Company's Securities and Exchange Commission ("SEC") filings. Additional information on the foregoing risk factors and other factors, including Risk Factors, which could affect the Company's results, is included in its SEC filings. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual plans, results or timelines to differ materially from those projected in any forward-looking statement. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by securities laws.

CONTACTS

Northwest Biotherapeutics

Dave Innes
804-513-6758
dinnes@nwbio.com

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SOURCE Northwest Biotherapeutics, Inc.

FAQ

What did NWBO announce on October 24, 2025 about Advent BioServices?

NWBO announced the acquisition of Advent BioServices closed and Advent is now a wholly owned subsidiary.

How much cash consideration will NWBO pay for Advent BioServices?

The stated consideration includes a payment of £1.4 million plus the net accounts payable due to Advent.

What happens to the 19 million NWBO securities issued to Advent?

The 19 million securities (13.5M shares and 5.5M options) are reverting back to NWBO as part of the acquisition.

Will NWBO change manufacturing locations after the Advent acquisition (NWBO)?

Yes; the company plans to close the GMP facility in London and reallocate resources to the Sawston facility and U.S. capacity development.

Does the Advent acquisition affect NWBO's DCVax-L regulatory timetable?

The acquisition includes a potential payment acceleration tied to regulatory approval of DCVax-L, but no regulatory dates were specified.