7. Commitments, contingencies and other liabilities

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As of March 31, 2024 and December 31, 2023, other current and non-current liabilities consisted of the following:

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Other Agreements

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In 2016, the Company entered into a research and development funding arrangement with a non-profit organization that provides up to $4.0 million in funding to the Company upon the achievement of clinical and development milestones. The agreement provides that the Company repay amounts received under certain circumstances including termination of the agreement, and to pay an amount up to 2.6 times the funding received upon successful development and commercialization of any products developed. In 2017, the Company earned a milestone payment of $1.0 million. The Company evaluated the arrangement and concluded that it represents a research and development financing arrangement as it is probable that the Company will repay amounts received under the arrangement. As a result, the $1.0 million is recorded as a non-current liability in the condensed consolidated balance sheet.

Litigation

The Company was not a party to any material legal matters or claims as of March 31, 2024, or December 31, 2023. The Company did not have contingency reserves established for any litigation liabilities as of March 31, 2024, or December 31, 2023.