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Subsequent Events
6 Months Ended
Jun. 30, 2022
Subsequent Events [Abstract]  
Subsequent Events

15. Subsequent Events

 

HBL Warrant Exercise

 

On July 6, 2022, HBL exercised warrants to purchase 21,999 ordinary shares of Cell Cure resulting in proceeds to Cell Cure of approximately $890,000. As a result of this transaction, Lineage’s ownership percent of Cell Cure decreased from approximately 99% to 94%.

 

Cell Cure Leases

 

On August 1, 2022, Cell Cure entered into a new lease for 300 square meters (approximately 3,229 square feet) of office and laboratory space in Jerusalem, Israel that expires December 31, 2027, with an option to extend the lease for five years. Base monthly rent is 16,350 NIS (approximately $4,800 per month). Upon execution of the new lease, Cell Cure amended the three existing Cell Cure Leases covering a total of 1,796 square meters (identified in Note 14 (Commitments and Contingencies)), extending their lease termination dates from December 31, 2025 to December 31, 2027, with no additional increase in monthly base rents. As a result of these transactions, our financial obligations for total rent payments for the facilities in which Cell Cure operates increased from $2.2 million to $3.5 million (as discussed below in the section Future Funding Requirements within Management’s Discussion and Analysis of Financial Condition and Results of Operations).