Intangible Assets

12 Months Ended

Dec. 31, 2025


14.	Intangible Assets

Intangible assets consist of licenses of intellectual property acquired by the Group through various agreements with third parties

and are recorded at the value of the consideration transferred. Information regarding the cost and activities of intangible assets is

as follows:


Cost	Licenses $
Balance as of January 1, 2024	906
Write-off	(80)
Deconsolidation of subsidiary	(225)
Balance as of December 31, 2024	601
Balance as of December 31, 2025	601

All the intangible asset licenses represent in-process-research-and-development assets that are currently still being developed and

not ready for their intended use. As such, these assets are not amortized but tested for impairment annually.

During the year ended December 31, 2024, the Group wrote off one of its research intangible assets for which research was ceased

in the amount of $80.

During the year ended December 31, 2024, Seaport Therapeutics, Inc. was deconsolidated and as such, $225 in net intangible assets

were derecognized.

The Group tested all intangible assets for impairment as of the balance sheet date and concluded that none of such assets

were impaired.