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v3.25.1

Loans Payable | 3 Months Ended
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Mar. 31, 2025
Loans Payable |
Loans Payable | 12. Loans Payable As a result of the acquisition of VCN, the Company acquired interest-free or below-market interest rates loans (0%-1%) extended by Spanish governmental institutions of Ministerio de Ciencia, Innovacion y Universidades (RETOS loan) and ACC10 Generalitat de Catalunya (NEBT loan). The maturities of these loans are between 2024 and 2028. As a result of the VCN Acquisition, the Company maintains a restricted cash collateral account of $100,000 relating to the RETOS loan, which is reflected as a non-current asset on the balance sheet. During September, 2024, the Company announced that its THERICEL project had been awarded €2.28 million (approximately $2.54 million) from the National Knowledge Transfer Program of the Spanish government’s Ministry of Science, Innovation & Universities to support a collaboration between the Company and the Universitat Autònoma de Barcelona (“UAB”) to advance the Company’s THERICEL suspension cell platform for the clinical manufacture of adenovirus- and adeno-associated virus (“AAV”) therapies. Under the award, the Company (via its wholly owned subsidiary, Theriva Biologics SL) received an unsecured loan (the “Loan”) of €1.3 million (approximately $1.4 million) as a lump sum payment on January 17, 2025 which bears interest at a rate of 4.015% and is to be repaid over 7 years commencing three years from the date of award. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, 2025 |  | March 31, 2025 | ​ | December 31, 2024 |  | December 31, 2024
​ | ​ | Current | ​ | Non-current |  | Current | ​ | Non-current
​ |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
NEBT Loan | ​ | ​ | 8 | ​ | $ | 17 | ​ | ​ | 7 | ​ | $ | 16
RETOS 2015 | ​ | ​ | 43 | ​ | ​ | 34 | ​ | ​ | 54 | ​ | ​ | 76
THERICEL Loan | ​ | ​ | — | ​ | ​ | 1,453 | ​ | ​ | — | ​ | ​ | —
​ | ​ | $ | 51 | ​ | $ | 1,504 | ​ | $ | 61 | ​ | $ | 92
​ A maturity analysis of the debt as of March 31, 2025 is as follows (amounts in thousands of dollars):
​ | ​ | ​ | ​
2025 |  | $ | 6
2026 |  | ​ | 53
2027 |  | ​ | 33
2028 |  | ​ | 10
2029 | ​ | ​ | 32
Thereafter | ​ | ​ | 1,421
Total |  | $ | 1,555
​

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