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Related Party Transactions
12 Months Ended
Dec. 31, 2021
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 6 – RELATED PARTY TRANSACTIONS

 

UCL

 

At December 31, 2021 and 2020, the Company owed UCL Consultants Limited (“UCL”) $10,000 and $34,000, respectively, in connection with medical research performed on behalf of the Company. During the years ended December 31, 2021 and 2020, the Company paid UCL $218,000 and $335,000, respectively, for medical research performed on behalf of the Company. UCL is a wholly owned subsidiary of the University of London. The Company’s Chief Scientific and Manufacturing Officer is a professor at the University of London.

 

CTI

 

During the year ended December 31, 2021 and 2020, the Company paid CTI $0 and $127,000, respectively, for medical research performed on behalf of the Company. During the year ended December 31, 2020, the Company recorded a capital contribution of $216,000 for the forgiveness of certain accounts payable due to CTI. During the years ended December 31, 2021 and 2020, the Company paid CTI $38,000 and $25,000, respectively, pursuant to its sublease agreement with CTI. See Note 5.

 

AmplifyBio

 

During the year ended December 31, 2021, the Company engaged AmplifyBio to perform certain medical research on behalf of the Company. The CEO of AmplifyBio is on the Board of Directors of the Company. At December 31, 2021, the Company owed AmplifyBio $70,000. No amounts were paid to AmplifyBio during 2021. The Company had no transactions with AmplifyBio during 2020.