NorthWest Biotherapeutics Inc (NWBO)

[Jack2479]

It’s obvious to any objective thinking individual that the future value of Advent could be potentially similar in terms of multiple paid as a percentage of revenue as Cognate. But no doubt some will deny this even when future account filings will prove this very point as previous account filings of Cognate uk/Advent showing how lucrative this business is but then gets completely ignored. Cognate inc does not need to file anything as is their right as a private business in the US so we couldn’t see but the UK division of cognate did (name change to Advent) and ownership transferred from Cognate to Toucan for what looks like nil value it’s not disclosed anyway…..since that moment revenues starting coming into Advent that may well previously have gone directly to Cognate inc I don’t know but within a year Advent had transformed from a dormant company to one making a small loss to one making a very healthy profit when you consider the number of employees —

2014 - Cognate Bioservices Ltd - Dormant - equity £1.00
2015 - Cognate Bio - (£443k) loss - equity £1.00
2016 - Advent - £1m improvements in performance balance sheet £505k - equity £1.00 with 3 employees
2017 - Advent - balance sheet £719k - equity £1.00 with 5 employees
2018 - Advent - balance sheet £3.61m equity £1.00 with 6 employees
2019 - Advent - balance sheet £4.85m equity £1.00 with 11 employees

This is without a license to operate at Sawston so the only income will be that of fees to project manage the build up - 15% which to be fair is not an unreasonable charge and any income generated from using the single room facility at a London hospital (max 5 patients per month capacity)

With a license to make vaccines at Sawston we should see volumes increase to around 50 per month initially and continue to fit out further investment in Sawston for which a 15% project mgt fee will likely be invoiced.