Employee Benefit Plans |
3 Months Ended |
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Mar. 31, 2025 | |
| Retirement Benefits [Abstract] | |
| Employee Benefit Plans | 10. Employee Benefit Plans
MDB Management and eXoZymes both sponsored individual 401(k) defined contribution plans for the benefit of each company’s eligible employees. The plans allow eligible employees to contribute a portion of their annual compensation, not to exceed annual limits established by the Department of Treasury. eXoZymes makes matching contributions for participating employees up to a certain percentage of the employee contributions; matching contributions were funded for the three-months ended March 31, 2025 and 2024. Benefits under the eXoZymes plan were available to all employees, and employees become fully vested in the employer contribution upon receipt. For the three-months ended March 31, 2025 and 2024, a total of $130,977 and $189,365, respectively, was contributed to the plans. The majority of the expense was included in general and administrative cost, however contributions for research and development employees is included in research and expenses.
MDB Management also provides health and related benefit plans for eligible employees.
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