Northwest Biotherapeutics Unit Completes $7.86M Purchase

On December 9, 2014, Aracaris Capital Ltd, a subsidiary of the Company in the UK, completed the purchase of the second portion of the property intended for the manufacturing expansion for DCVax products in the UK. This property is located within and surrounded by the first portion of the property already acquired by Aracaris, as previously reported. The purchase price for the additional property was £5 million (approximately $7.86 million). The additional property includes approximately 12 acres of potentially developable land (as well as non-developable land), and certain existing buildings. Development of the property for DCVax manufacturing will require approval by the Planning Commission to re-classify the property, removal of certain existing structures, making certain site improvements, Planning Commission approval of the intended use after re-classification, and Planning Commission approval of the specific designs and engineering. The Company plans to explore various structures and approaches for financing and/or development of the property that may enable the Company to withdraw its capital from the property.