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Related Parties
12 Months Ended
Dec. 31, 2021
Related Party Transactions [Abstract]  
Related Parties

15. Related Parties

In 2020, the Company entered into agreements with several Scientific Advisory Board (“SAB”) members whose members are comprised of the Company's board members. The Company paid monthly amounts, ranging from $3 thousand to $5 thousand per month. No board member was paid more than $0.1 million individually for the years ended December 31, 2021 and 2020, in the aggregate, all board members were paid less than $0.1 million for both periods combined.

The Company was founded out of Dr. Thomas Gajewski’s laboratory at the University of Chicago. In 2020, the Company entered into the License Agreement with the University of Chicago, as well as a sponsored research agreement, which had previously purchased 309,885 shares of the Company’s Series A preferred stock as part of the Company’s 2019 Series A financing. In partial consideration for the license from the University, the Company issued to the University 48,919 shares of its common stock in 2020. The Company recorded the value of the shares issued of $3 thousand as research and development expenses in the year ended December 31, 2020. There have been no further expenses incurred for the year ended December 31, 2021 with regards to the University License Agreement. Refer to Note 3 for additional discussion.

Prior to IPO, Pfizer along-with its affiliated entity and Bayer HealthCare LLC ("Bayer"), were principal owners of the Company. Subsequent to IPO, Pfizer and Bayer are no longer principal owners and, as a result, neither Pfizer nor Bayer are related parties of the Company. In 2020, the Company entered into the Pfizer License Agreement. The Pfizer License Agreement became effective in March 2021. During the year ended December 31, 2021, the Company incurred a combined $25.0 million (which was recorded as research and development expenses), consisting of an upfront fee equal to a cash payment of $5.0 million and the issuance of 12,152,145 shares of Series B convertible preferred stock with a value of $20.0 million in 2021 to Pfizer. Refer to Note 3 for additional discussion.

The Company and Alloy formed a joint venture company, Voxall Therapeutics, LLC (“Voxall”) to leverage the Company’s technology and Alloy’s ATX-Gxplatform and antibody discovery services. The Company and Alloy contributed $50 thousand each to Voxall along with certain license. During the year, the Company provided services to Voxall for which it recognized service fee other income of $181 thousand. Refer to Note 4 for additional discussion.