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Northwest Biotherapeutics closes $47.3M UK property transaction

Northwest Biotherapeutics Inc. closed the previously announced sale of its U.K. property, raising gross proceeds of about $47.3 million.

The Bethesda, Md.-based developer of cancer immunotherapies retained 17 acres of the property in the research triangle of Oxford, Cambridge and London, along with a leaseback for up to 40 years on an 87,000-square-foot manufacturing facility its has been developing on the site, which includes substantial adjacent areas.

Northwest Biotherapeutics said the proceeds will fund its obligations and operations, including clinical development of DCVax-L, its brain cancer immunotherapy.