The DC's for DCVax-L and Direct are grown from stem cells extracted from the patient's blood. I don't know whether that is what the text you are pointing to is talking about, or not.
If not... counter to what I have seen posted here, I think it was understood from early on that Cognate would be serving many customers. For a bear, that is evidence that Cognate is just using NWBO to stay afloat, but to a bull, it also makes total sense. NWBO needs to show the ability to mfg on a large scale to gain approval for therapies that are applicable on a large scale. It does not makes sense to attempt to keep such a large facility afloat and growing with only the business they would receive from NWBO during these trials. If approval is gained, there will be a large jump in the needed floorspace and personel to meet production needs. They cannot make that jump fast enough starting from the small levels of production capability needed to support the current trials. So... they fill up their facilities with as many other contracts as they can get, but keep the contracts flexible enough to allow changeover to NWBO products at a pace that would satisfy everyone, if that need arises.
You failed to rub LP's halo. That is why you cannot see these things as clearly as I do. It's magic!
NWBO became obligated to issue Cognate 500,000 shares due to this press release below. Basically it is a $2.5 million payout for entering into an agreement to grow. A crazy expensive sign-on bonus in my opinion. Let’s not forget that this agreement has month payment terms of its own. But, for the record, it's probably apparent that I'm NOT a fan of the COI relationship between the two.
The first time I read the SEC statement my initial reaction was to think it might be related to a Phase III trial milestone, or at least I had hoped. If I could find out what it was for (i.e., blind statistician analysis) then maybe I could see if they repeated such milestone issuance of shares later down the road (completion on enrollment). Unfortunately I found that not to be the former not to be the case (issuance due to agreement below), yet I did look over the past summer and fall (for full enrollment) for a potential SEC obligatory share due admission and sadly, I came up blank. Hopefully we'll see a nice milestone issuances in the future...
Does e=mcc help explain our existance? If it does, then maybe what you read about the Sawston project can help explain Cognate's relationship to NWBO better. You have one of the more interesting puzzle pieces. Let's see if you figure out where to place it in the puzzle.