Northwest Biotherapeutics, a biotechnology company focused on developing personalized immune therapies for solid tumor cancers, announced that it has completed the acquisition of Advent BioServices. With the deal now closed, Advent becomes a wholly owned subsidiary of Northwest Biotherapeutics (NWBio).
The acquisition is expected to drive efficiencies, streamline operations, and support the company’s broader goal of scaling up production of its DCVax® line of immunotherapy products. The combined company will benefit from a fully integrated platform that unites the technologies, intellectual property, and expertise of NWBio, Advent, and Flaskworks.
The integration is anticipated to streamline supply chain and facility management, enable the closure of the company’s GMP facility in London, and reallocate resources to the Sawston, UK site and upcoming capacity expansion efforts in the United States. It is also expected to improve coordination with clinical sites and enhance distribution capabilities for DCVax therapies.
Under the terms of the agreement, NWBio will acquire all of Advent’s fixed assets, including cryostorage systems and other high-value equipment accumulated over the past several years. The acquisition also includes intellectual property and other intangible assets held by Advent.
Notably, the company is not issuing any new shares or securities as part of the acquisition. Instead, 19 million previously issued NWBio securities—comprising 13.5 million shares and 5.5 million options—will revert back to NWBio, alongside the transfer of Advent’s assets.
The acquisition consideration will be paid in installments over two years, with potential acceleration after regulatory approval of DCVax®-L. The total consideration includes a £1.4 million payment and the settlement of net accounts payable due to Advent under prior contracts. The payment schedule has been revised so that installments will begin 90 days after the October closing, rather than 90 days after the August agreement, with the Net AP calculated as of the closing date.
According to NWBio, this transaction marks a key milestone in its strategic plan to scale up manufacturing and prepare for the commercialization of its lead product, DCVax-L, for glioblastoma (GBM)—the most aggressive and deadly form of primary brain cancer. The company has completed a 331-patient Phase III trial for DCVax-L, presented data at scientific meetings, published results in JAMA Oncology, and submitted a Marketing Authorization Application (MAA) in the UK, which remains under review.
Beyond glioblastoma, the company is also developing DCVax®-Direct for inoperable solid tumors, having completed a Phase I trial and preparing for Phase II. Additionally, it previously conducted a Phase I/II trial for DCVax-L in advanced ovarian cancer in collaboration with the University of Pennsylvania.
KEY QUOTE:
“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. 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.”
Linda Powers, Chief Executive Officer, Northwest Biotherapeutics
