Beyond Therapeutics License Agreement

In December 2020, Zenith Epigenetics Ltd. entered into an agreement with Beyond Therapeutics Corp. (the “Licensee”) for an outlicense of one of the Company’s compounds (excluding ZEN-3694) worldwide excluding China, Hong Kong, Taiwan and Macau. Within one year of the effective date of the license agreement, the Licensee must select one compound to license, from up to three compounds that it shall select. In connection with the license agreement, the Company received a non-refundable upfront payment of $0.5 million. The $0.5 million received is included in unearned licensing revenue at January 31, 2021.