NorthWest Biotherapeutics Inc (NWBO)

[Poor Man -]

Just so the implication is understood, Merck could lose the patent upon its expiration, but Keytruda’s useful life as a profitable drug in combination would be extended if Merck also holds the patent for DCVax. That’s why DCVax holds more value to Merck than perhaps any other BP.

It’s hard the make a logical business case for Merck NOT making a large offer. And as I’ve said a couple of times, Merck’s acquisition of Acceleron is irrelevant to any of this vis a vis an acquisition of NWBO.

New patent only applies to combination. The Keytruda patent in question expires in 7 years.