Related Parties

12 Months Ended

Dec. 31, 2024

Related Party Transactions [Abstract]

Related Parties

19. Related Parties

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. The Company incurred expenses of less than $0.1 million and $0.2 million during the years ended December 31, 2024 and 2023, respectively, with regards to the University License Agreement. Refer to Note 4, Licensing Agreements, for additional discussion.

Pfizer owns more than 10% of the Company and is considered the principal owner of the Company. The Company did not incur expenses related to the Pfizer A&R License Agreement during the year ended December 31, 2024. During the year ended December 31, 2023, in accordance with the terms of the A&R License Agreement, the Company paid $8.0 million to Pfizer in January 2023 and issued 1,811,594 shares of its common stock in March 2023. Refer to Note 4, Licensing Agreements, for additional discussion.