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Related Party Transactions
12 Months Ended
Dec. 31, 2021
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
Novartis Institutes for BioMedical Research, Inc.
Novartis is a related party because it is a greater than 5% stockholder of the Company. In January 2016, the Company entered into the Novartis Agreement and sold 2,000,000 shares of its Series A-1 preferred stock to Novartis for gross proceeds of $13,500. In addition, concurrent with the Company’s initial public offering of common stock, the Company issued Novartis 766,666 shares of its common stock at $15.00 per share for proceeds of $11,500 in a private placement. During the year ended December 31, 2021, the Company did not receive any cash payments from Novartis. As of December 31, 2021 and 2020, no amounts were due from Novartis.
During the years ended December 31, 2021, 2020 and 2019, the Company made no cash payments to Novartis related to the Novartis Agreement.
Research Agreement with Vaccinex, Inc.
On November 30, 2017, the Company entered into a research agreement (the "Vaccinex Research Agreement") with Vaccinex, whereby Vaccinex will use its technology to assist the Company with identifying and selecting experimental human monoclonal antibodies against targets selected by the Company. On March 23, 2021, the Company exercised its option under the Vaccinex Research Agreement to enter into the Vaccinex License Agreement to exclusively license certain antibodies generated under the Vaccinex Research Agreement. The Company's former Chief Executive Officer and current member of its board of directors is a member of the board of directors of Vaccinex.
During the years ended December 31, 2021, 2020, and 2019, the Company paid Vaccinex an aggregate of $50, $50 and $606, respectively, relating to the Vaccinex Research Agreement. During the year ended December 31, 2021, the Company paid Vaccinex $850 relating to the Vaccinex License Agreement. The payments under the Vaccinex Research Agreement and the Vaccinex License Agreements were recognized as research and development expense during the years ended December 31, 2021, 2020, and 2019. No amounts were due by the Company to Vaccinex as of December 31, 2021 and 2020.