Annual report [Section 13 and 15(d), not S-K Item 405]

Related Party Transactions (Tables)

v3.26.1
Related Party Transactions (Tables)
12 Months Ended
Dec. 31, 2025
Related Party Transactions  
Schedule of PIK dividend or equity fee recorded

The following table summarizes, by subsidiary, the PIK dividends, annual equity fees, and equity fees recorded by the Company in accordance with the terms of the Founders Agreements, Exchange Agreements and the partner companies’/subsidiaries’ certificates of incorporation for the years ended December 31, 2025 and 2024 ($ in thousands):

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​

​

​

​

​

​

​

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PIK Dividend

​

Year Ended December 31, 

Partner company

  ​ ​ ​

Date

  ​ ​ ​

2025

  ​ ​ ​

2024

Avenue

​

January 1

​

​

130

​

​

410

Cellvation

 

October 31

​

 

7

​

 

10

Checkpoint1

 

January 1

​

 

53

​

 

8,633

Cyprium

 

January 1

​

 

299

​

 

291

Helocyte

 

January 1

​

 

40

​

 

39

Mustang

 

January 1

​

 

667

​

 

940

Oncogenuity

 

May 8

​

 

9

​

 

9

Urica

​

November 25

​

​

87

​

​

514

Fortress

​

​

​

 

(1,292)

​

 

(10,846)

Total

​

​

​

$

—

​

$

—

​

Note 1:

Instead of a PIK dividend, Checkpoint paid the Company an annual equity fee in shares of Checkpoint’s common stock equal to 2.5% of Checkpoint’s fully diluted outstanding capitalization. Due to the deconsolidation of Checkpoint in May 2025 related to the Sun Pharma transaction (see Note 3), Checkpoint no longer has this obligation to the Company.

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​

Schedule of effective date and annual consulting fee payable by the subsidiary to the Company

The following table summarizes, by partner company/subsidiary, the effective date of the MSA and the annual consulting fee payable by the partner company/subsidiary to Fortress in quarterly installments ($ in thousands):

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Partner Company/Subsidiary

  ​ ​ ​

Effective Date

  ​ ​ ​

2025

​

2024

  ​ ​ ​

Avenue1

​

February 17, 2015

​

$

500

​

 

250

​

Cellvation

​

October 31, 2016

​

 

500

​

 

500

​

Checkpoint2

​

March 17, 2015

​

 

208

​

 

500

​

Cyprium

​

March 13, 2017

​

 

500

​

 

500

​

Helocyte

​

March 20, 2015

​

​

500

​

​

500

​

Mustang

​

March 13, 2015

​

 

500

​

 

500

​

Oncogenuity

​

February 10, 2017

​

​

500

​

​

500

​

Urica

​

November 7, 2017

​

​

500

​

​

500

​

Fortress

​

​

​

 

(3,708)

​

 

(3,750)

​

Consolidated (Income)/Expense

​

​

​

$

—

​

$

—

​

​

Note 1:

Avenue’s MSA fee for 2024 was subject to a Subscription and Forgiveness Agreement signed in November 2024.

Note 2:

Due to the deconsolidation of Checkpoint in May 2025 related to the Sun Pharma transaction (see Note 3), Checkpoint no longer has this obligation to the Company.