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Prepaid expenses and other current assets | 12 Months Ended
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Dec. 31, 2021
Prepaid expenses and other current assets [Abstract] |
Prepaid expenses and other current assets | 7. Prepaid expenses and other current assets Prepaid expenses are analyzed as follows:
|  | December 31, 2021 |  |  | December 31, 2020 |
Prepaid insurance expenses |  | $ | 354,978 |  |  | $ | 383 |
Prepaid research expenses |  |  | 494,813 |  |  |  | - |
Prepaid rent expenses |  |  | 98,520 |  |  |  | - |
Other prepaid expenses |  |  | 191,783 |  |  |  | 1,341 |
Total |  | $ | 1,140,094 |  |  | $ | 1,724 |
Prepaid insurance expenses as of December 31, 2021 mainly include prepayments to insurers for directors’ and officers’ insurance services for liabilities that may arise in their capacity as directors and officers of a public entity. Prepaid research expenses as of December 31, 2021 mainly relate to prepayments for expenses under the Cooperative Research and Development Agreement as discussed in Note 18. Other current assets are analyzed as follows:
|  | December 31, 2021 |  |  | December 31, 2020 |
VAT receivable |  | $ | 980,518 |  |  | $ | 259,831 |
Withholding tax |  |  | 108,350 |  |  |  | - |
Grant receivable |  |  | 509,399 |  |  |  | 95,064 |
Purchases under receipt |  |  | 274,330 |  |  |  | 24,488 |
Guarantees |  |  | 24,234 |  |  |  | - |
Other receivables |  |  | 2,835,833 |  |  |  | 115,638 |
|  | $ | 4,732,664 |  |  | $ | 495,021 |
On March 8, 2021, the Company entered into a lease agreement for 21,401 square feet for use as a product development and manufacturing center at Hood Park in Charlestown, MA. Under the terms of the lease, the Company will be reimbursed by the lessor for up to $7.7 million of expenses related to the design and construction of the Company’s workspace. As of December 31, 2021, other receivables include an amount of $2.6 million relating to the expenses reimbursable by the lessor.

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