NorthWest Biotherapeutics Inc (NWBO)

[Red_Right_Hand]

I'm not saying this is an obstacle, but there is another layer of complexity that will need to be addressed in any deal that may worked out with NWBO.

For the relevant patents, NWBO is an owner of those patents where LP, MB or another NWBO employee was listed as an inventor. UCLA is an owner on those patents where LL or another UCLA employee was listed as inventor. There is also another entity (Revimmune) that is listed as owner on at least one of the patents/applications.

Even though there may be some DCVAX-relevant patents that protect DCVAX (or its methods of use) that are not co-owned, at least some (many) of them are co-owned.

Any patent owner is allowed to practice the invention claimed in the patent they own without needing permission (i.e., a license) from any of the other co-owners. Similarly, any owner is allowed to license or sell their rights to their patent without needing permission from any of the other co-owners to do so.

So while a licensee could get a license to practice the patents from just one of the co-owners, in doing so they would leave themselves open to competition from other parties who could license those same rights from one of the other co-owners. (i.e., an exclusive license from just one co-owner is effectively a non-exclusive license, since the rights of the other co-owners are still available to be licensed by others.)

So any licensee (or coordinating group of co-licensees) that wants exclusive rights to practice the invention free from competition, would need to get an exclusive license from each and every co-owner of every relevant patent protecting DCVAX, or its methods of use.

So UCLA and Revimmune (whoever they really are) will be involved in any negotiations with a licensee that is seeking to lock up all the patent rights and obtain an exclusive license.

Involving any additional party, and especially an academic institution, in a business transaction such as this one (even assuming the interests of all co-owners are perfectly aligned) adds to the complexity of the process and will certainly add to the time it will take to satisfy each co-owners' interests.