Related Party Transactions

6 Months Ended

Jun. 30, 2022

Related Party Transactions [Abstract]

Related Party Transactions

11. Related Party Transactions

The Company entered into an agreement with ElevateBio that provides for ongoing services to the Company in areas such as information technology, human resources and administration management, and facilities (the “Shared Services Agreement”). The Company is billed monthly for such services at cost, with mark-up for profit on specific services, but including reasonable allocations of employee benefits, facilities and other direct or fairly allocated indirect costs that relate to the associates providing the services. The Company also entered into the 2020 DMS Agreement (see "Note 5 - Leases"). The Company incurred $0.8 million and $1.4 million during the three months ended June 30, 2022 and 2021, respectively, and $2.0 million and $3.6 million during the six months ended June 30, 2022 and 2021, respectively, related to services provided to the Company by ElevateBio and affiliates. At June 30, 2022 and December 31, 2021, the Company owed ElevateBio $0.6 million and $1.7 million, respectively, and had prepaid expenses of $0.5 million and $0, respectively.

Members of the Company’s management and board of directors received consulting fees totaling $0.1 million and $0.1 million during the three months ended June 30, 2022 and 2021, respectively, and $0.3 million and $0.3 million during the six months ended June 30, 2022 and 2021, respectively.