NorthWest Biotherapeutics Inc (NWBO)

[Poor Man -]

Not sure the Roche-GNE is the most likely scenario In terms of scale, just because GNE was just a more established (and listed) entity. But the principle is the same. Rather than pay full value before approval and market results, MRK could enter into licensing agreements or smaller JV with milestone payments.

With a large equity purchase, I do wonder how licensing agreements with other BP that are competitors are structured in the event that MRK eventually acquire 100% of the shares NWBO.