Bbg Advanced Therapies

“List of members and stockholders: biobridge global is the sole member of the corporation.”

“Documentation of meetings or written actions by the governing body: meetings held and written actions undertaken were documented in the minutes of the meetings of biobridge global's board of directors.”

“Process to review the form 990: the organization engages an outside accounting firm to prepare the form 990. Once prepared, the return is reviewed by the financial management staff from biobridge global, a related organization. A copy of the form 990 is provided to the executive committee of the board of directors of biobridge global prior to filing.”

“Compliance with conflict of interest policy: a copy of the organization's conflict of interest policy is provided annually to all officers, key employees and board of directors of biobridge global. In addition, questionnaires are given out on an annual basis to all officers, key employees and board of directors which cover business and family relationships and various activities that have occurred over the course of the year. Every attempt is made to ensure that all forms are returned. Individuals who fail to return the requested forms or provide incomplete information are contacted by the organization. In the event of a conflict of interest, the member subject to the conflict of interest must leave the discussion and voting on a transaction or arrangement that results in a conflict of interest. A committee of non-interested representatives shall be appointed to investigate alternatives to the proposed transaction or arrangement. The party with a conflict of interest is not permitted to advocate to other representatives prior to the vote. The committee is responsible for excercising due diligence in determining that the transaction is not more materially advantageous than a deal with a non-interested transaction.”

“Review of ceo/top management compensation: in determining the top management official's compensation, the organization relied on biobridge global's process to assist in compensation decisions. The process of determining the top management compensation is disclosed on their form 990.”

“Review of other officer's compensation: the organization relied on biobridge global's process to assist in compensation decisions. The process of determining other officer's compensation is disclosed on their form 990.”

“How documents are made available to the public: any documents subject to open record requirements are made available upon request.”

“DESCRIPTION OF ORGANIZATION'S MISSION OR MOST SIGNIFICANT ACTIVITIES: GENCURE ENABLES PROGRESS IN THE FIELD OF ADVANCED THERAPIES BY OFFERING PROCESS AND ANALYTICAL DEVELOPMENT, CGMP MANUFACTURING, IN-PROCESS and release testing while leveraging a unified quality management system. We partner with our customers with the end goal of clinical development and commercialization in mind. The first phase of GenCure's clinical scale biomanufacturing facility opened in March 2020 in the heart of San Antonio, at the VelocityTX Innovation Center. The biomanufacturing space is compliant with FDA regulations, EU Annex 1 and PMDA (Grade A, B, C, D). Cleanrooms are sized for a wide range of production volumes, up to a series of 250L bioreactors. This facility includes an initial 6,700 square feet of cleanroom production space, a 2,500-square-foot development lab, along with office and meeting space. 2020 and 2021 were challenging years. As COVID restrictions have eased and customer visits have increased, GenCure's market activity has increased as well. This was marked by participation in the Alliance for Regenerative Medicine (ARM) A-Cell development and publication project, numerous presentations and panel discussions that helped build industry visibility. In addition, GenCure deepened relationships with customer referral bases, including consulting firms which has helped accelerate customer development and onboarding. Internally, GenCure has successfully implemented NetSuite's inventory management system, allowing for tighter controls on inventory purchase, utilization and expiry. In addition, Program Management software, developed for task and billing management was successfully initiated in 2021 and moved toward launch in preparation for a 2022 launch. Three new customers were onboarded in 2021, with an anticipated increase in 2022, supported by better systems and better market awareness. Even as some customers faced their own regulatory and technical development challenges, GenCure successfully renegotiated / renewed base contracts with multiple customers. With growth in the business, the GenCure team has expanded both in terms of personnel and business capabilities. With a change in technical leadership, the capabilities and focus of the team have expanded and become increasingly sophisticated. The addition of bioreactor platforms and platform extensions from TBCT and Miltenyi have broadened the company's reach. Plans for 2022 include expanded community outreach, both in terms of Workforce Development, recruitment and training, and community hospital involvement with cell therapy production.”

“Program service conduct changes: the services of gencure related to cord blood, tissue and apheresis services were transferred at carrying value to the south texas blood & tissue center (stbtc), a related organization, on january 1, 2021.”

“Other changes in net assets or fund balances: transfer of net deficit assets to related parties: $31,105,196 equity transfer: $18,718,067 ----------------------------------------------------------------------- total: $49,823,263”