| Schedule of Non-Controlling Interests in Consolidated Entities |
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For the Nine Months Ended |
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September 30, 2023 |
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As of September 30, 2023 |
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Net loss attributable to |
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Non-controlling interests |
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Non-controlling |
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($ in thousands) |
non-controlling interests |
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in consolidated entities |
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ownership |
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Avenue1 |
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(9,298) |
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(3,346) |
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88.3 |
% |
Cellvation |
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(25) |
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(1,949) |
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21.3 |
% |
Checkpoint2 |
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(26,625) |
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(16,966) |
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89.1 |
% |
Coronado SO |
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— |
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(290) |
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13.0 |
% |
Cyprium |
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(1,335) |
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(5,491) |
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28.3 |
% |
Helocyte |
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45 |
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(5,994) |
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17.5 |
% |
JMC2 |
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(515) |
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8,035 |
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46.2 |
% |
Mustang1 |
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(34,026) |
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3,184 |
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79.4 |
% |
Oncogenuity |
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(11) |
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(1,721) |
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27.0 |
% |
Urica |
$ |
(2,022) |
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$ |
(5,379) |
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33.0 |
% |
Total |
$ |
(73,812) |
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$ |
(29,917) |
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For the Year Ended |
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December 31, 2022 |
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As of December 31, 2022 |
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Net loss attributable to |
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Non-controlling interests |
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Non-controlling |
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($ in thousands) |
non-controlling interests |
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in consolidated entities |
|
ownership |
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Aevitas3 |
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(425) |
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(5,753) |
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45.2 |
% |
Avenue1 |
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(2,355) |
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3,054 |
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89.9 |
% |
Baergic4 |
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(113) |
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— |
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— |
% |
Cellvation |
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(102) |
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(1,791) |
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21.3 |
% |
Checkpoint2 |
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(48,406) |
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(16,008) |
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82.2 |
% |
Coronado SO |
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— |
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(291) |
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13.0 |
% |
Cyprium |
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(1,173) |
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(3,817) |
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29.0 |
% |
Helocyte |
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(122) |
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(5,900) |
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17.9 |
% |
JMC2 |
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(12,458) |
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7,429 |
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43.7 |
% |
Mustang1 |
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(60,821) |
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37,640 |
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81.3 |
% |
Oncogenuity |
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(111) |
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(1,575) |
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27.4 |
% |
Tamid5 |
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(1) |
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(776) |
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22.8 |
% |
Urica |
$ |
(1,251) |
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$ |
(3,908) |
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40.2 |
% |
Total |
$ |
(127,338) |
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$ |
8,304 |
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Note 1: |
Avenue and Mustang are consolidated with Fortress’ operations because Fortress maintains voting control through its ownership of Class A Preferred Shares which provide super-majority voting rights. |
Note 2: |
Checkpoint and JMC are consolidated with Fortress’ operations because Fortress maintains voting control through its ownership of Class A Common Shares which provide super-majority voting rights. |
Note 3: Effective April 21, 2023, Aevitas ceased to be a controlled Fortress entity and as such is no longer consolidated (see Note 3, Asset Purchase Agreements).
Note 4: Fortress’ ownership in Baergic was transferred to Avenue as of November 7, 2022 (see Note 15, Related Party Transactions).
Note 5: Tamid was dissolved in the quarter ended September 30, 2023.
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