Related Parties

3 Months Ended

Mar. 31, 2025

Related Parties

Related Parties

12.Related Parties

Under the Option Agreements and the License Agreements, Paragon, a stockholder of the Company that was founded by a Series A Preferred Unit investor, received upfront consideration in the form of common units, is entitled to receive milestone and royalty payments upon specific conditions and receives payments from the Company for providing ongoing services under the agreements (see Note 8). As of March 31, 2025, an immaterial amount was due to Paragon. As of December 31, 2024, $0.1 million was due to Paragon. For the three months ended March 31, 2025, the Company incurred immaterial research and development expenses with Paragon. For the three months ended March 31, 2024, the Company incurred research and development expenses of $6.5 million with Paragon.