Collaborative Agreements

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

COLLABORATIVE AGREEMENTS

NOTE 10 – COLLABORATIVE AGREEMENTS

During the year ended December 31, 2020, the Company was awarded a $500,000 grant from the Amyotrophic Lateral Sclerosis (“ALS”) Association to fund a study of the efficacy of XPro to reverse ALS in vitro and to fund a study of the efficacy of XPro to protect against ALS model phenotypes in vivo. During the years ended December 31, 2021 and 2020, the Company received $200,000, and $300,000, respectively of cash proceeds pursuant to this grant which the Company recorded as deferred liabilities. The Company records costs incurred related to the ALS study as a reduction of the deferred liabilities. As of December 31, 2021, the Company has $257,000 recorded as deferred liabilities related to the ALS grant.

During September 2020, the Company was awarded a grant of up to $2.9 million from the National Institutes of Health (“NIH”). The grant will support a Phase 2 study of XPro in patients with treatment resistant depression. As of December 31, 2021, the Company has not received any proceeds pursuant to this grant.