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Related Party Transactions
12 Months Ended
Dec. 31, 2019
Related Party Transactions [Abstract]  
Related Party Transactions
Related Party Transactions
Members of the Company’s board of directors held 1,002,776 and 782,083 shares of the Company’s common stock as of December 31, 2019 and 2018, respectively.
Malin Corporation
In June 2017, G. Kelly Martin was appointed as the Company’s Interim CEO before being named as the Company’s CEO in April 2018. Mr. Martin continued to serve as a member of the Company’s board of directors following his appointment as Interim CEO and continued to serve as chief executive officer of Malin Corporation plc (“Malin”) until October 1, 2017. Malin is the parent company of Malin Life Sciences Holdings Limited, which beneficially owns approximately 10% of the Company’s outstanding common stock.
See Note 16—Subsequent Events regarding the Company’s CEO transition in February 2020.
Two of the Company’s directors during 2018 were also affiliated with Malin. Sean Murphy, who resigned from the Company’s board in September 2018, was an executive officer and a director of Malin, and an executive vice president of Malin Corporation plc. In addition, Robert A. Ingram, the Company’s executive chairman of the board, was also a director of Malin Corporation plc until July 2018.
Cilatus BioPharma
In August 2019, Malin completed the sale of its former subsidiary, Cilatus BioPharma AG (“Cilatus”). Prior to this disposition, Cilatus was majority-owned by Malin. During the nine months ended September 30, 2019 and the year ended and December 31, 2018, respectively, the Company incurred costs of $250 and $601 in relation to a development and manufacturing consulting agreement with Cilatus. These costs were expensed as incurred and are classified as research and development expenses in the accompanying consolidated statements of operations and comprehensive loss.
Health Decisions
On October 25, 2018, the Company announced the formation of a dedicated women’s health business unit as well as a foundational collaboration with Health Decisions, Inc. (“Health Decisions”). Health Decisions is a full-service contract research organization specializing in clinical studies of therapeutics for women’s health indications. The Company’s women’s health business unit is led by Paula Brown Stafford, who also is a shareholder and serves on the board of directors of Health Decisions.
Reedy Creek
Reedy Creek beneficially owns approximately 15% of the Company’s outstanding common stock and approximately 3.9 million warrants, all of which was acquired during the January 2018 Offering. Accordingly, Reedy Creek is a related party of the Company. The purchase agreement with Reedy Creek, described in Note 7—Research and Development Arrangements, was evaluated and approved pursuant to the Company’s existing related party transactions policy.