18. Other Non-Current Assets
Other non-current assets consisted of following items:
|
December 31 |
|
|---|---|---|
(thousands of €) |
2025 |
2024 |
Non-current restricted cash |
1,759 |
1,985 |
Non-current portion of upfront payment to NovAliX |
– |
2,580 |
Non-current portion of advance related to the NovAliX transaction |
– |
2,877 |
Other non-current assets |
1,200 |
1,266 |
Total other non-current assets |
2,959 |
8,708 |
In 2023, we transferred our Romainville (France)-based drug discovery and research operations and employees to NovAliX for no consideration, in exchange for a five-year commitment to use the research capabilities and expertise of NovAliX within our R&D portfolio. The transfer was accounted for as an advance for future services, to be released over the committed five years collaboration period. In addition, we also made an €8.3 million upfront payment as a prepayment toward our five-year purchase commitment.
As a result of the strategic reorganization of the small molecule activities, we early terminated our five-year collaboration agreement with NovAliX, which resulted in the accelerated release of the remaining portion of the advances (non-current and current) of the NovAliX transaction and the upfront payment in 2025.