We had two operating leases in Copenhagen, Denmark for office space that expired in August 2021 and December 2021, respectively.

In March 2021, we entered into a new lease for our office space in Copenhagen, Denmark that expires in January 2025, terminable upon three months’ notice. In August 2021, we entered into a new lease for laboratory facilities and office space in Rockwell, Maryland that expires in April 2027. In October 2021, we entered into a new lease for office space in New York, NY that expires in January 2027.

Rent expense for years ended December 31, 2021 and 2020 was $290,000 and $202,000 respectively.

Future minimum rental payments under noncancellable leases are as follows at December 31, 2021 (in thousands):


Year ending December 31,	Amount
2022	$	411
2023		605
2024		621
2025		547
2026		553
Thereafter		150
Total	$	2,887

From time to time, we may be party to litigation arising in the ordinary course of its business. We were not subject to any material legal proceedings during the years ended December 31, 2021 and 2020, and, to our knowledge, no material legal proceedings are currently pending or threatened.

We enter into certain types of contracts that contingently requires us to indemnify various parties against claims from third parties. These contracts primarily relate to procurement, service, consultancy or license agreements under which we may be required to indemnify vendors, service providers or licensees for certain claims, including claims that may be brought against them arising from our acts or omissions with respect to our products, technology, intellectual property or services.

From time to time, we may receive indemnification claims under these contracts in the normal course of business. In the event that one or more of these matters were to result in a claim against us, an adverse outcome, including a judgment or settlement, may cause a material adverse effect on our future business, operating results or financial condition. It is not possible to estimate the maximum amount potentially payable under these contracts since we have no history of prior indemnification claims and the unique facts and circumstances involved in each particular claim will be determinative.

We, as permitted under Delaware law and in accordance with our certification of incorporation and bylaws and pursuant to indemnification agreements with certain of our officers and directors, indemnifies our officers and directors for certain events or occurrences, subject to certain limits, which our officer or director is or was serving at the our request in such capacity.