2024-04-17T13:17:26-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 4 BATTERYMARCH PARK SUITE 100 QUINCY MA 02169 990 2022-07-01 851085804 PHARE BIO INC PHAR 6174265900 303 CONGRESS STREET 2ND FLOOR BOSTON MA 02210 AKHILA KOSARAJU CEO AND PRESIDENT 6174265900 2024-04-06 1 AKHILA KOSARAJU XXX-XX-XXXX 1 DANIELLE NIHILL P01350943 7819821001 2024-04-04 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z AKHILA KOSARAJU 303 CONGRESS STREET 2ND FLOOR BOSTON MA 02210 2009513 0 X WWW.PHAREBIO.ORG X 2020 MA PHARE BIO USES AI/DEEP LEARNING TO DEVELOP NOVEL ANTIBIOTICS TO TACKLE ANTIMICROBIAL RESISTANCE. 7 6 3 6 0 0 1557143 2007643 0 0 0 26 1680 1844 1558823 2009513 0 13192 0 0 688991 883402 0 0 0 489673 352916 1178664 1249510 380159 760003 1009435 1837494 25465 88135 983970 1749359 X PHARE BIO'S MISSION IS TO DEVELOP CRITICALLY NEEDED ANTIBIOTICS TO ADDRESS A LOOMING CRISIS IN ANTIBIOTIC RESISTANCE. USING NOVEL AI AND DEEP LEARNING APPROACHES, PHARE BIO AIMS TO RAPIDLY DISCOVER AND DEVELOP NEW CLASSES OF ANTIBIOTICS AGAINST THE DEADLIEST PATHOGENS, AND ENSURE THAT THESE THERAPIES REACH THE PATIENTS IN GREATEST NEED. 0 0 900604 13192 1844 PHARE BIO'S PROGRAM MANDATE IS TO DEVELOP CRITICALLY NEEDED ANTIBIOTICS TO ADDRESS A LOOMING CRISIS IN ANTIBIOTIC RESISTANCE. PHARE BIO HAS A NUMBER OF PROMISING EARLY-STAGE PIPELINE PROJECTS AND IS CONDUCTING EXTENSIVE IN VITRO AND IN VIVO DRUG DEVELOPMENT STUDIES TO ADVANCE POTENTIAL ANTIBIOTICS THROUGH THE RESEARCH AND DEVELOPMENT PROCESS. THESE ANTIBIOTIC CANDIDATES ARE DISCOVERED VIA A NOVEL AI/DEEP LEARNING PLATFORM DEVELOPED BY PROFESSOR JIM COLLINS' LAB AT MIT (PHARE BIO'S AI DISCOVERY PARTNER AND CO-FOUNDER) AND OPTIMIZED FOR FUTURE CLINICAL APPLICATION AT PHARE BIO. WITH THIS CUTTING-EDGE PLATFORM AND A NONPROFIT BUSINESS MODEL, PHARE BIO IS DEVELOPING NEW CLASSES OF ANTIBIOTICS AND UNIQUELY ADDRESSING ECONOMIC CHALLENGES FACING THE ANTIBIOTIC MARKET. IN THIS PAST YEAR, PHARE BIO INCORPORATED GENERATIVE AI INTO ITS DISCOVERY PLATFORM, FURTHER ENHANCING ITS EARLY-STAGE PIPELINE OF NOVEL ANTIBIOTICS. 900604 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 13 0 1 3 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA NY X AKHILA KOSARAJU 6174265900 303 CONGRESS ST BOSTON MA 02210 AKHILA KOSARAJU CEO & PRESIDENT 40.00 X X 531282 0 20500 WILLIAM FOSTER CHAIR & TREASURER 1.00 X X 0 0 0 STEVE ELLIS DIRECTOR 1.00 X 0 0 0 JAMES COLLINS DIRECTOR 1.00 X 0 0 0 JOSE-CARLOS GUTTIEREZ-RAMOS DIRECTOR 1.00 X 0 0 0 ROBERT PLENGE DIRECTOR 1.00 X 0 0 0 SUSAN URAHN DIRECTOR 1.00 X 0 0 0 531282 0 20500 1 0 1 0 0 2007643 2007643 26 26 MISCELLANEOUS INCOME 900003 1844 1844 1844 2009513 1844 0 26 X 13192 13192 805602 684762 120840 37281 31689 5592 40519 34441 6078 17445 13956 3489 93273 93273 167816 122564 45252 50701 50701 3875 3875 5478 5478 9818 9818 231 231 2149 2149 ALL OTHER EXPENSES 1620 1620 TAXES 510 510 1249510 900604 348906 0 993256 275000 553421 16179 3689 1005384 1009435 1837494 25465 88135 25465 88135 X 983970 1749359 983970 1749359 1009435 1837494 X 760003 5360 26 X 0 1 X 1 0 X 1057242 1557143 2007643 4622028 1057242 1557143 2007643 4622028 2129262 2492766 26 26 1680 1680 1844 1844 4625578 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISC INCOME - 2022 AMOUNT: $ 1,844. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 2014899 5360 26 5386 2009513 0 2009513 1249510 0 1249510 0 1249510 PART X, LINE 2: PHARE BIO, INC. IS ORGANIZED AS A DELAWARE NONPROFIT CORPORATION AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE (IRC) SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN IRC SECTION 501(C)(3), QUALIFY FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER IRC SECTIONS 170(B)(1)(A)(VI) AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION UNDER IRC SECTIONS 509(A)(1). THE ORGANIZATION IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, THE ENTITY IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO THEIR EXEMPT PURPOSE; HOWEVER, IT WAS DETERMINED THAT THE ENTITY IS NOT SUBJECT TO UNRELATED BUSINESS INCOME TAX AND HAVE NOT FILED AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FOREIGN CURRENCY GAIN/LOSS 26. 1 NORTH AMERICA 0 0 RESEARCH GRANT GRANTS TO RECIPIENTS IN THE REGION 13192 0 0 0 0 0 0 13192 0 13192 NORTH AMERICA MCMASTER UNIVERSITY (THE STOKES LAB) 13192 CHECK 0 1 0 0 0 0 0 0 PART I, LINE 2: PHARE BIO CLOSELY MONITORS GRANT FUNDS OUTSIDE OF THE US WITH QUARTERLY REPORTING, PAYMENTS ONLY UPON DETAILED SCIENTIFIC MILESTONES ACHIEVED, AND CLOSE COLLABORATION WITH THE GRANTEE ORGANIZATION. PART III ACCOUNTING METHOD: PART III: ACCOUNTING METHOD IN EXCHANGE FOR THE FULL AND PROPER PERFORMANCE OF THE RESEARCH UNDER THIS AGREEMENT, ORGANIZATION AGREES TO PAY MCMASTER THE FEES ON THE TIMELINE AND SUBJECT TO THE CONDITIONS (INCLUDING THE DELIVERY OF ANY DELIVERABLES) AS SPECIFIED IN SCHEDULE A. IN THE EVENT OF TERMINATION, THE ORGANIZATION SHALL PAY MCMASTER ANY FEES FOR ANY RESEARCH COMPLETED UP TO AND INCLUDING THE DATE OF SUCH TERMINATION, AND ANY OTHER COSTS DIRECTLY RESULTING FROM SUCH TERMINATION INCLUDING OBLIGATIONS UNDER THE ONTARIO EMPLOYMENT STANDARDS ACT, EXCEPT IN THE EVENT OF A MATERIAL BREACH BY MCMASTER. SCHEDULE A: RESEARCH PLAN MCMASTER WILL BE PAID A TOTAL FEE OF $30,000 AS THREE PAYMENTS OF $10,000 EACH EVERY 4 MONTHS STARTING 1/15/2022 FOR RESEARCH PERFORMED. IN ADDITION, MCMASTER WILL BE PAID A ONE-TIME $7,500 FEE FOR OVERHEAD AT THE TIME OF THE SECOND PAYMENT X X X X X X 0 0 0 0 0 0 0 0 0 AKHILA KOSARAJU CEO & PRESIDENT 399282 0 132000 0 0 0 20500 0 0 0 551782 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B PHARE BIO'S DIRECTORS, OFFICERS, ACCOUNTING AND LEGAL TEAMS WILL REVIEW THE 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS AND DIRECTORS ARE TRAINED ANNUALLY ON THE PHARE BIO INC CONFLICT OF INTEREST POLICY (ADOPTED MAY 2020) AND MUST ACKNOWLEDGE ADHERENCE TO THE POLICY. ANY CONFLICT OF INTEREST DISCLOSURES ARE REQUIRED AND MUST BE UPDATED WITH ANY NEW POTENTIAL CONFLICTS. THE PRESIDENT AND BOARD OF DIRECTORS OVERSEE ALL CONFLICT OF INTEREST DISCLOSURES AND COMPLIANCE PER THE PHARE BIO INC CONFLICT OF INTEREST POLICY. SHOULD A POTENTIAL CONFLICT ARISE, THE BOARD WILL DETERMINE WHETHER A CONFLICT EXISTS AND VOTE ON ANY APPROPRIATE ACTIONS, BE IT DISCIPLINARY, CORRECTIVE OR OTHERWISE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD, LED BY THE CEO AND REVIEWED BY THE TREASURER, DETERMINES ALL OFFICER COMPENSATION BY CONDUCTING AN INDUSTRY COMPARABLES ANALYSIS FOR BOTH SALARIES AND BONUSES. BONUSES ARE APPROVED BY THE BOARD AT THE ANNUAL BOARD MEETING (ALONG WITH THE ANNUAL BUDGET, WHICH INCLUDES THE SALARY AND COMPENSATION BUDGET) BASED ON ACHIEVEMENT OF PERFORMANCE METRICS SET BY THE ORGANIZATION AND APPROVED BY THE BOARD. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS, POLICIES, AND OTHER DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 122,564. MANAGEMENT AND GENERAL EXPENSES 45,252. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 167,816. FORM 990, PART XI, LINE 9: FOREIGN CURRENCY GAIN/LOSS 26. PHARE DISCOVERIES LLC 303 CONGRESS ST BOSTON MA 02210 612087958 SCIENTIFIC RESEARCH MA PHARE BIO INC