| RELATED PARTY TRANSACTIONS |
14. RELATED PARTY TRANSACTIONS | | | Name of related parties | | Relationship | Peter Luo | | Chairman, Chief Executive Officer and a principal shareholder of the Company | Certain senior management personnel | | Management and ordinary shareholders of the Company | WuXi AppTec Co., Ltd. (“WuXi AppTec Group”) | | A principal shareholder of the Company | WuXi Biologics (Cayman) Inc. | | Controlled by the ultimate controlling party of a principal shareholder of the Company |
| b) | The Group had the following related party balances as of December 31, 2024 and 2025: |
| | | | | | | As of December 31, | | | 2024 | | 2025 | | | US$ | | US$ | WuXi AppTec Group | | 5,304 | | 14,276 | Certain senior management personnel. | | 3,005 | | 3,073 | Total amounts due from related parties | | 8,309 | | 17,349 |
As of December 31, 2024 and 2025, the amounts due from related parties mainly represented prepayments made for the CRO and CDMO services.
| | | | | | | As of December 31, | | | 2024 | | 2025 | | | US$ | | US$ | WuXi Biologics (Cayman) Inc. | | 12,598,836 | | 10,118,661 | WuXi AppTec Group | | 589,130 | | 228,539 | Total amounts due to related parties | | 13,187,966 | | 10,347,200 |
As of December 31, 2024 and 2025, the amounts due to related parties mainly represented payables for the CRO and CDMO services. | c) | The Group had the following related party transactions during the years ended December 31, 2023, 2024 and 2025: |
| | | | | | | | | For the years ended | | | December 31, | | | 2023 | | 2024 | | 2025 | | | US$ | | US$ | | US$ | WuXi Biologics (Cayman) Inc. | | 1,868,815 | | 1,464,959 | | 1,470,267 | WuXi AppTec Group | | 787,602 | | 466,432 | | 98,024 | Certain senior management personnel. | | 4,087 | | 12,132 | | 12,096 | | | 2,660,504 | | 1,943,523 | | 1,580,387 |
For the years ended December 31, 2023, 2024 and 2025, expenses incurred with related parties mainly resulted from receipt of CRO and CDMO services.
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