NorthWest Biotherapeutics Inc (NWBO)

[Poor Man -]

All contracts have assignment and change of ownership clauses. It was likely that NWBO had the right to terminate at its discretion — perhaps with some carve outs — not CRL, at least not w/o LDs.

It’s also very possible that Toucan remained on Cognate’s board even after the management buyout, and had some say during the negotiations for the sale.

My guess is this issue was nailed down well prior to closing.