| Non-Controlling Interests |
11. Non-Controlling Interests
Non-controlling interests in consolidated entities are as follows:
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For the Three Months Ended |
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March 31, 2023 |
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As of March 31, 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 |
|
ownership |
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Urica |
$ |
(470) |
|
$ |
(3,901) |
|
34.5 |
% |
Aevitas |
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(41) |
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(5,891) |
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45.2 |
% |
Avenue2 |
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(6,390) |
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(1,629) |
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87.8 |
% |
Cellvation |
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(26) |
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(1,860) |
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21.3 |
% |
Checkpoint1 |
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(8,425) |
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(18,607) |
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83.9 |
% |
Coronado SO |
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— |
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(290) |
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13.0 |
% |
Cyprium |
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(538) |
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(4,392) |
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28.3 |
% |
Helocyte |
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(16) |
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(5,865) |
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17.5 |
% |
JMC1 |
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(4,403) |
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|
3,302 |
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43.9 |
% |
Mustang2 |
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(13,293) |
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23,564 |
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79.0 |
% |
Oncogenuity |
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(6) |
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(1,636) |
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27.4 |
% |
Tamid |
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— |
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(785) |
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22.8 |
% |
Total |
$ |
(33,608) |
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$ |
(17,990) |
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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 |
|
Non-controlling |
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($ in thousands) |
non-controlling interests |
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in consolidated entities |
|
ownership |
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Urica |
$ |
(1,251) |
|
$ |
(3,908) |
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34.5 |
% |
Aevitas |
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(425) |
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(5,753) |
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45.9 |
% |
Avenue2 |
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(2,355) |
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|
3,054 |
|
82.0 |
% |
Baergic3 |
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(113) |
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|
— |
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39.0 |
% |
Cellvation |
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(102) |
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|
(1,791) |
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21.7 |
% |
Checkpoint1 |
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(48,406) |
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(16,008) |
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81.5 |
% |
Coronado SO |
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— |
|
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(291) |
|
13.0 |
% |
Cyprium |
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(1,173) |
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(3,817) |
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29.8 |
% |
Helocyte |
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(122) |
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(5,900) |
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18.3 |
% |
JMC |
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(12,458) |
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7,429 |
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41.6 |
% |
Mustang2 |
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(60,821) |
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|
37,640 |
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82.7 |
% |
Oncogenuity |
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(111) |
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(1,575) |
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24.9 |
% |
Tamid |
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(1) |
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(776) |
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22.8 |
% |
Total |
$ |
(127,338) |
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$ |
8,304 |
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Note 1: |
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 2: |
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 3: Fortress’ ownership in Baergic was transferred to Avenue as of November 7, 2022 (see Note 15).
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