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Related Party Transactions
 11 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
Related Party Transactions

15. Related Party Transactions

 

Paragon and Paruka each beneficially own less than 5% of the Company’s capital stock through their respective holdings of Company Common Stock.

 

Fairmount beneficially owns more than 5% of the Company’s capital, currently has one representative appointed to the Board, and beneficially owns more than 5% of Paragon. Fairmount appointed Paragon’s board of directors and has the contractual right to approve the appointment of any executive officers of Paragon.

 

The following is a summary of related party accounts payable and other current liabilities (in thousands): 

 

   December 31,
2024		 
Paragon reimbursable Option Agreements’ fees  $1,482 
Paragon milestone payments for Option Agreement   4,000 
Paragon reimbursable other research expenses   515 
Paragon reimbursable patent expenses   25 
Total  $6,022