Related Party Transactions

12 Months Ended

Dec. 31, 2021

Related Party Transactions [Abstract]

Related Party Transactions

20. Related Party Transactions

License and Supply Agreements

In August 2018, we entered into a supply agreement with 4Life in conjunction with 4Life’s investment in our Series C preferred stock and warrants. Pursuant to the supply agreement, we granted 4Life an exclusive license to develop dietary supplements using certain of our intellectual property. The term of the exclusive license is five years from the commencement of product sales under the supply agreement, with a deemed commencement date of January 1, 2023 if sales have not commenced by that date, with options to renew for additional five-year terms. We provide non-pharmaceutical product to 4Life for development, and 4Life pays royalties of 3% of incremental sales, as defined in the agreement. 4Life is subject to an annual minimum sales requirement under the supply agreement. If the minimum sales are unmet, 4Life may pay us an additional fee to maintain exclusivity or have the license converted to non-exclusive.

During the years ended December 31, 2021 and 2020, we sold product under the supply agreement totaling $0.5 million and $0.1 million, respectively, and product not under the supply agreement totaling $0.1 million and $0.1 million, respectively. As of December 31, 2021 and 2020, we received advance payments of $0 and $0.1 million, respectively, which we recorded as deferred revenue to be applied against future sales. During the years ended December 31, 2021 and 2020, we received royalty revenue of $0.2 million and $30,000, respectively.