So Corning did not facilitate Flaskworks products ultimately selling the tech for practically nothing, two full years after the alleged great DCVAX trial results in 2018. My sense is the Murthy machine was repurposed from T-cell to DC. Also odd Powers / NWBO was not involved in the machine's creation, which is odd given as far back as 2016 the urgency to find cost savings to put the Street's concerns to rest on an affordable path forward. Instead the inventor relied on small grants while NWBO blew through tens of millions on "stuff" even as the trial for all intensive purposes had ended in 2018. All very strange.
Then there's the issue of Flaskworks as an LLC, and its tech people working with Advent, a company not owned by NWBO but by NWBO's CEO / Chair / CFO.
>>In 2016, IP partner Adam Schoen met Boston-based inventor and entrepreneur Shashi Murthy (presently Founder and Chief Technology Officer at Flaskworks, LLC). Due to Brown Rudnick’s close industry connections and deep relationships with both companies and investors, Adam kept the relationship growing over many months, eventually looping in other key partners such as corporate partner Michael Cohen. When the time came for Mr. Murthy to start the process of forming his second company, he reached out to Brown Rudnick for help to obtain the license to get the technology out of Northeastern University and into the company being formed: Flaskworks, LLC.
Founded in 2016, Flaskworks is a biotechnology company whose technology aims to transform and improve the manufacturing of immuno-therapeutics and dendritic cell-based vaccines. Since Flaskworks’ inception, Brown Rudnick has served as IP and corporate counsel, working on several transactions throughout the entire lifecycle of the company. We handled their entire IP/protection strategy and all financings, including some of the strategic financing that helped them raise money to become an interesting target in the industry.
In 2018, we represented the company in an equity financing coupled with a commercial contract led by Corning Incorporated, which intended to facilitate the distribution of Flaskworks’ products into the marketplace. In addition to this, we also handled the eventual sale of the company: in early 2020, Flaskworks was acquired by Northwest Biotherapeutics. We have been asked to stay on as counsel.
Like many of our clients, Brown Rudnick attorneys are entrepreneurs. We help life sciences companies build, grow, and strategically deploy capital all over the world. We have an impressive track record working with university spinouts, university funds, and incubators.
