Company: INKT
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0000950170-25-061041
Chunk: 35

Company: MiNK Therapeutics, Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 35
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 MiNK incurred expenses of $1.1 million and $1.0 million for the years ended December 31, 2024 and 2023, respectively.

On February 12, 2024, we entered into a Convertible Promissory Note Purchase Agreement (the “Purchase Agreement”) pursuant to which we issued to Agenus a convertible promissory note in the principal amount of up to $5.0 million (the “Note”). We may draw down on the principal amount of the Note from time to time with Agenus’s consent in any increment, either in the form of advancements or payments made by Agenus on the Company’s behalf. The Note carries an annual rate of interest rate of 2% (the “Interest Rate”) that accrues from the date funds are paid or advanced by Agenus to us. Interest shall accrue and not be payable until converted or paid in connection with the repayment in full of the principal amount of the Note. The Note provides that we will pay Agenus on demand the principal amount outstanding, together with any unpaid interest, on or after January 1, 2026. In the event of a qualified financing event, as described in the Note, at Agenus’s election, we must pay the principal amount outstanding and any unpaid interest, either in full or in the form of equity securities. In March 2024 we received $5.0 million from Agenus and the Note was fully drawn. As of the date hereof, there is an outstanding balance of $5.0 million under the Note. We have not made any principal or interest payments under the Note.

Atlant Clinical Ltd.

Effective April 12, 2022, the Company entered into a Master Services Agreement with Atlant Clinical Ltd. (“Atlant”), a subsidiary of Agenus, to provide clinical trial support services to the Company, including an eTMF platform, medical monitoring and data manager services. The Company’s Audit and Finance Committee approved the engagement under its related-party transactions policy for up to $250,000 in services. As of December 31, 2024, the Company had entered into work orders with Atlant totaling approximately $193,000, plus out of pocket expenses which are to pass through to Company at cost.

Wolf, Greenfield & Sachs, P.C.

The Company's CEO's spouse is a partner in the law firm of Wolf, Greenfield & Sachs, P.C. (“Wolf Greenfield”), which provided legal services