On Monday the Northwest Biotherapeutics (OTCMKTS:NWBO) stock had been on an upward trajectory and on top of that, the trading volume had also gone up by as much as 2.83 times the average daily volume. The company is currently best known for its work on the development of DCVax, a product that is meant to provide customized immune therapies related to solid cancer tumors.
Back on March 20, the company along with the UK-based contract development and manufacturing organization major Advent BioServices made a joint statement. In the statement, it was announced that an MIA license had been issued for the commercial manufacturing of cell therapy products at Northwest’s GMP-certified facility located in Sawston, United Kingdom. The license had been awarded by the Medicines and Healthcare Products Regulatory Agency.
In this regard, it ought to be noted that the MIA license is only the first of the multiple licenses that the company would need for manufacturing cell therapies commercially in the United Kingdom. The company noted that to the best of its knowledge, there are two other licenses that it would need and one of those had already been awarded.
However, investors ought to note that the award of the license had been the result of three years’ worth of work that had been put in by Northwest. As per the provisions of the license, the cell therapy products manufactured by the company at the Sawston facility could also be exported throughout the world and that was another significant outcome of the license award.