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RELATED PARTY TRANSACTIONS | 12 Months Ended
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Dec. 31, 2022
RELATED PARTY TRANSACTIONS |
RELATED PARTY TRANSACTIONS | 13. RELATED PARTY TRANSACTIONS
a) | Related Parties
​
​ | ​ | ​
Name of related parties |  | Relationship
Peter Luo |  | Chairman, Chief Executive Officer and a principal shareholder of the Company
Four senior management personnel |  | Management and ordinary shareholders of the Company
WuXi AppTec Co., Ltd. (“WuXi AppTec Group”) |  | A principal shareholder of the Company
WuXi Biologics (Cayman) Inc. |  | Controlled by the ultimate controlling party of a principal shareholder of the Company
​
b) | The Group had the following related party balances as of December 31, 2021 and 2022:
​
​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
​ | ​ | 2021 | ​ | 2022
​ |  | US$ |  | US$
WuXi AppTec Group |  | 3,080,116 |  | 503,941
WuXi Biologics (Cayman) Inc. |  | 1,426,554 |  | 115,491
Total amounts due from related parties |  | 4,506,670 |  | 619,432
​ As of December 31, 2021 and 2022, the amounts due from related parties represented prepayments made for the CRO and CMO services. ​
​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
​ | ​ | 2021 | ​ | 2022
​ |  | US$ |  | US$
WuXi Biologics (Cayman) Inc. |  | 10,292,268 |  | 17,840,876
WuXi AppTec Group |  | 173,793 |  | 1,482,461
Total amounts due to related parties |  | 10,466,061 |  | 19,323,337
​ As of December 31, 2021 and 2022, the amounts due to related parties represented payables for the CRO and CMO services. ​
c) | The Group had the following related party transactions during the years ended December 31, 2020, 2021 and 2022:
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the years ended
​ | ​ | December 31,
​ | ​ | 2020 | ​ | 2021 | ​ | 2022
​ |  | US$ |  | US$ |  | US$
Receipt of CRO and CMO services: |  | ​ |  | ​ |  | ​
WuXi Biologics (Cayman) Inc. |  | 7,217,709 |  | 12,561,276 |  | 27,764,750
WuXi AppTec Group |  | 2,674,586 |  | 517,742 |  | 7,362,713
​ |  | 9,892,295 |  | 13,079,018 |  | 35,127,463
​

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI https://asc.fasb.org/topic&trid=2122745 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 + Details
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