| Non-Controlling Interests |
11. Non-Controlling Interests
Non-controlling interests in consolidated entities are as follows:
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For the Six Months Ended |
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June 30, 2023 |
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As of June 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 |
|
ownership |
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Urica |
$ |
(1,301) |
|
$ |
(4,806) |
|
34.5 |
% |
Avenue2 |
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(9,860) |
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|
(4,981) |
|
89.4 |
% |
Cellvation |
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(47) |
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(1,926) |
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21.3 |
% |
Checkpoint1 |
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(21,978) |
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(20,204) |
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86.8 |
% |
Coronado SO |
|
— |
|
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(290) |
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13.0 |
% |
Cyprium |
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(741) |
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(4,742) |
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28.3 |
% |
Helocyte |
|
33 |
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(5,911) |
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17.5 |
% |
JMC1 |
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(8,104) |
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|
19 |
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45.1 |
% |
Mustang2 |
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(26,127) |
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10,848 |
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79.1 |
% |
Oncogenuity |
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(8) |
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(1,665) |
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27.0 |
% |
Tamid |
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— |
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(794) |
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22.8 |
% |
Total |
$ |
(68,133) |
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$ |
(34,452) |
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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 |
|
Urica |
$ |
(1,251) |
|
$ |
(3,908) |
|
34.5 |
% |
Aevitas4 |
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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 |
|
— |
|
|
(291) |
|
13.0 |
% |
Cyprium |
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(1,173) |
|
|
(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 |
% |
JMC1 |
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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).
Note 4: Effective April 21, 2023, Aevitas ceased to be a controlled Fortress entity and as such is no longer consolidated (see Note 3).
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