11. Employee Benefit Plans

MDB Management and eXoZymes, both sponsored individual 401(k) defined contribution plans for the benefit of each company’s eligible employees. Public Ventures offered its employees a sponsored 401(k) defined contribution plan for the benefit of the employees; this plan was terminated on July 30, 2021. 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 year ended December 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 year ended December 31, 2025 and 2024, a total of $392 thousand and $659 thousand, respectively, was contributed to the plans. The costs for eXoZymes are recorded up to November 14, 2024, the date of the consolidation of eXoZymes. The majority of the expense was included in general and administrative cost, however, for any research and development employees. their portion of the expense is recorded in research and development costs.

MDB Management and eXoZymes also provide health and related benefit plans for eligible employees.