NorthWest Biotherapeutics Inc (NWBO)

[Kaizenman]

Chiugray: I have been thinking about what NWBO looks like in the near to medium term during the last couple of weeks. I am awestruck about their patent portfolio and its ramifications that has recently been revealed.

When I postulate about the work remaining to fully build out the solid cancers in humans (likely more patents and quite a few trials) as well as the significant development work remaining for deployment to animals, I am stating to wonder more about NWBO staying a R&D company funded by partnerships and licensing deals going forward.

The current company structure could continue to function as a R&D company (but hire quite a few more researchers and lawyers to accelerate the commercialization for licensing). I am thinking something like a modified Danaher corporate structure, where Danaher parent controls the IP and capital allocation between all of their subsidiaries. The structure of NWBO in this context would likely be more aligned to how their IP is monetized.

I would appreciate your thoughts on this. I am increasing the probability of this scenario in my future state enterprise value computation over what I had on the last revision, and partnerships allow this to occur.

Happy New Year and Peace.