Related party transactions |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Related party transactions | |
| Related party transactions | 14. Related party transactions Amendment to Consulting Agreement with Stone Atlanta Estates LLC Pierre Legault, former Chairman of the Company’s board of directors, is associated with Stone Atlanta Estates LLC, which provided consultancy services to the Company totaling $0.1 million during the year ended December 31, 2025 prior to Mr. Legault’s retirement as Chairman of the Company’s board of directors. Stone Atlanta Estates LLC provided consultancy services to the Company totaling $0.3 million and $0.2 million during the years ended December 31, 2024 and 2023, respectively. In March 2025, the Company and Mr. Legault entered into an amendment to the consulting agreement, effective as of June 17, 2025, the date of Mr. Legault’s retirement as Chairman. The amendment modified the compensation payable under the agreement and provides for expiration of the agreement to be no later than June 30, 2028. Related Party Participation in Private Placement The Investors in the Private Placement included certain entities affiliated with Baker Bros. Advisors LP (the “Baker Entities”), an entity which may be deemed a beneficial owner of greater than 10% of the Company’s voting securities. Felix J. Baker, the current Chairman of the Company’s board of directors, is a managing member of Baker Bros. Advisors (GP) LLC, the sole general partner of Baker Bros. Advisors LP. In the Private Placement, the Baker Entities purchased an aggregate of 17,114,846 non-voting ordinary shares, nominal value £0.01 per share, for an aggregate purchase price of $366.6 million. The Private Placement was approved in accordance with the Company’s related person transaction policy by the Company’s Related Parties Committee. See Note 11. “Commitments and contingencies” for additional information on indemnities provided to certain investors. |