1 unchanged sentence
We entered the lease in November 2018 with a rent-free period at the beginning of the lease term until August 2020.
−Removed: In addition, we have the option to terminate the lease in November 2026.
+Added: In addition, in January 2026, we entered into an amendment to the lease agreement that extended the lease term into November 2035.
+Added: The amendment provides certain rent-free and reduced rent periods as an incentive, and includes a break window during which the Company may terminate the lease early in exchange for payment of a pre-specified rent penalty.
Since September 2017, the Company has had an arrangement with Cell Therapy Catapult Limited to lease manufacturing suites at the Cell and Gene Therapy Catapult manufacturing center in Stevenage, United Kingdom.
−Removed: In March 2023, the Company and Cell Therapy Catapult Limited mutually agreed:
−Removed: (i) to terminate the lease relating to the leased manufacturing suite which originally had a lease term until February 2025, (ii) to extend the lease term of one of the remaining manufacturing suites from June 2023 to August 2024, and (iii) to extend the lease term of a third manufacturing suite leased by the Company from September 2023 to August 2024.
−Removed: In addition, during the year ended December 31, 2023, the Company recognized a loss on disposal on leasehold improvements of $3.8 million arising from the manufacturing suite terminated and exited on March 31, 2023.
−Removed: In August 2024, one of the manufacturing suite leases ended and the Company exited the suite.
−Removed: In September 2024, the Company extended the lease term from August 2024 to March 2025 for the remaining manufacturing suite.
−Removed: In October 2018, we entered into a sublease for 27,502 square feet of office space in Rockville, Maryland.
−Removed: On February 27, 2020, we terminated the sublease of this office space and concurrently entered into a direct lease with the building owner for the same premises.
−Removed: The lease terminated at the end of February 2025.
+Added: In March 2023, the parties mutually agreed:
+Added: (i) to terminate the lease relating to a leased manufacturing suite (known as Module 7) which originally had a lease term until February 2025, (ii) to extend the lease term of Module 3, one of the remaining manufacturing suites, from June 2023 to August 2024, and (iii) to extend the lease term of Module 4 a third manufacturing suite leased by the Company from September 2023 to August 2024.
+Added: In addition, during the year ended December 31, 2023, the Company recognized a loss on disposal on leasehold improvements of $3.8 million arising from the lease termination of Module 7 on March 31, 2023.
+Added: In August 2024, the lease term for Module 3 ended and the Company vacated the suite.
+Added: In September 2024, the Company extended the lease term for Module 4 from August 2024 to December 2026;
+Added: the Company currently uses this space for clinical manufacturing activities.
In February 2019, we entered into a lease for a manufacturing facility, consisting of approximately 39,558 square feet, in Enfield, U.K..
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The Landlord will provide funding for certain specified improvements to the facility (the “Works”), which we committed to undertake on a mutually agreed schedule.
−Removed: Funding received for the Works done are deemed lease incentives in accordance to ASC 842.
−Removed: Once the Works are complete, the rental payments under the lease will be increased according to a specified formula for the remainder of the lease term.
+Added: Funding received for the Works done are deemed lease incentives in accordance with ASC Topic 842, Leases .
+Added: The main Works will complete in March 2026.
The deed of variation does not affect the lease term, which continues to run for 20 years from September 19, 2023.
+Added: However, the deed of variation provides for enhanced rental payments according to a specified formula, commencing in December 2025.
The Nucleus will have a GMP cell manufacturing capacity of approximately 2,000 batches a year.
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In September 2023, we extended the original lease term to March 2027.
−Removed: In order to commence the scale up of our manufacturing capability, an administrative office and training facility was set up at Unit 10, Gateway 1000, Arlington Business Park in Stevenage, U.K.
−Removed: adjacent to the Catapult facility.
−Removed: This office and training space was used to support the fit out and commencement of manufacturing activities at the Nucleus facility.
−Removed: During November 2023, we vacated this facility and relocated to The Nucleus.
−Removed: The current lease expires in October 2025.
+Added: In November 2025, we decommissioned the laboratory space but continue to use the office space.
+Added: We also lease shared office facilities in Weil Am Rhein, Germany, and Basel, Switzerland.
+Added: The German lease runs through March 2027, and the Swiss lease through October 2027.
+Added: Each lease will automatically renew if we do not provide notice of termination in accordance with the applicable terms.
We anticipate leasing additional office and manufacturing space as we add employees, and we believe that suitable additional or substitute space will be available as needed to accommodate any such expansion of our operations.
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.