NorthWest Biotherapeutics Inc (NWBO)

[Poor Man -]

The issue has always been that NWBO shareholders have funded the startup of Advent, not to mention the common control by Toucan that results in unreconcilable conflicts of interest. Advent’s business model is the same as for Cognate. So no surprise they’re signing contracts with other biotech's and third parties.

The argument is irrelevant about whether Toucan should or shouldn’t own a CDMO to support NWBO. That’s a separate issue. What’s relevant is NWBO has funded Advent and subsidizes the company by paying the lease on space for future expansion.

And for those reasons, NWBO and it’s shareholders should also hold an ownership interest in Advent as a subsidiary. Hey, wouldn’t we all like to have Mike Scott work for NWBO as an executive, and perhaps board member — maybe he could take over from Linda some day?

It’s amusing that the same arguments made by insiders for how worthwhile and beneficial it is for Toucan to own and control Advent, make every argument in the world as to why NWBO shareholder shouldn’t own any of it.

If you fund a startup, you should own the startup.

We (NWBO) should be getting a cut of that, and not just through heavily discounted rents. Yes, I know its not structured that way, and therein lies the rub.