XORTX Therapeutics Inc 20-F for FY2021

XORTX Therapeutics Inc. (XRTX)

20-F 2022-05-03 For: 2021-12-31

Added on April 05, 2026

About this 20-F

XORTX Therapeutics Inc filed this 20-F on May 3, 2022, covering the fiscal year ended December 31, 2021 (FY2021).

Headline figures

Fiscal year ended December 31, 2021, as reported in this filing, compared with the same period a year earlier where the filing states it.

Net loss: 1.65M CAD; compared with a net loss of 1.28M CAD a year earlier

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Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Shares	XRTX	The Nasdaq Stock Market LLC

Table of Contents		i
General Matters		ii
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS		ii
GLOSSARY		iii
Part I		1
Item 1.	Identity of Directors, Senior Management and Advisors	1
Item 2.	Offer Statistics and Expected TimeTable	1
Item 3.	Key Information	1
Item 4.	Information on the Company	48
Item 4A.	Unresolved Staff Comments	83
Item 5.	Operating and Financial Review and Prospects	83
Item 6.	Directors, Senior Management and Employees	83
Item 7.	Major Shareholders and Related Party Transactions	94
Item 8.	Financial Information	94
Item 9.	The Offer and Listing.	94
Item 10.	Additional Information	95
Item 11.	Quantitative and Qualitative Disclosures About Market Risk	112
Item 12.	Description of Securities Other than Equity Securities	113
PART II		113
Item 13.	Defaults, Dividend Arrearages and Delinquencies	113
Item 14.	Material Modifications to the Rights of Security Holders and Use of Proceeds	113
Item 15.	Controls and Procedures	114
Item 16.	[Reserved]	114
Item 16A.	Audit Committee Financial Expert	114
Item 16B.	Code of Ethics	114
Item 16C.	Principal Accountant Fees and Services	115
Item 16D.	Exemptions from the Listing Standards for Audit Committees	115
Item 16E.	Purchases of Equity Securities by the Issuer and Affiliated Purchasers	115
Item 16F.	Change in Registrant’s Certifying Accountant	115
Item 16G.	Corporate Governance	116
Item 16H.	Mine Safety Disclosure	116
Item 16I.	Disclosure Regarding Foreign Jurisdictions that Prevent Inspections	116
PART III		116
Item 17:	Financial Statements	116
Item 18:	Financial Statements	116
Item 19.	Exhibits	117

Patent Family No.	Patent Family Name	XRx-101	XRx-008	XRx-225	Additional Potential Candidates

1	Xanthine Oxidase Inhibitor Formulation Patents - Kidney, Cardiovascular, Neurological	X	X	X	Other indications such as rare kidney diseases, cardiovascular and neurological diseases

2	Virus, Coronavirus, Sepsis Health Consequences - Viral Induced Acute Organ, Kidney Injury	X			Generally applicable to viral infections, including respiratory and health consequences.

3	Methods of Enhancing Anti-Viral Therapies - Viral and Bacterial Infection	X			Generally applicable to Viral infections, including respiratory and health consequences

4	Compositions and Methods for Treatment and Prevention of Insulin Resistance			X

5	Uric Acid Lowering Agents for Metabolic Syndrome (Treatment of Diabetic Nephropathy)			X

6	Compositions and Methods for Diagnosis, Treatment, and Prevention of Kidney Disease	X		X

Name, Province / State and Country of Residence	Age	Position with the Company	Date Became a Director / Officer	Principal Occupation Last Five Years
Allen Davidoff Alberta, Canada	61	President and Chief Executive Officer and Director	January 9, 2018	Current President and Chief Executive Officer of the Company since January 9, 2018 and its predecessor company, XORTX Pharma Corp. since July 2012; former Chief Scientific Officer and co-founder, Stem Cell Therapeutics Inc. (November 2004 to December 2011).
William Farley New York, United States	67	Director	May 12, 2021	Over 35 years’ experience in business development, sales and leading efforts in drug discovery, development and partnering. Current Vice President, Business Development, Sorrento Therapeutics, Inc. and its subsidiary companies Levena BioPharma Co., Ltd. and Scilex Pharmaceutics, Inc. as well as its Sofusa division since 2016 and current Director, Globestar Therapeutics Corporation since April 2021.

Name, Province / State and Country of Residence	Age	Position with the Company	Date Became a Director / Officer	Principal Occupation Last Five Years
Stephen Haworth Pennsylvania, United Sates	71	Chief Medical Officer	July 1, 2021	Current Chief Medical Officer of the Company; Principal Consultant, Haworth Biopharmaceutical Consulting Services Inc. since July 2013; former Executive Medical Director, Cormedix Inc. (2017 to 2018); former Vice President, Vaxlnnate Corporation (2015 to 2015).
Amar Keshri Alberta, Canada	43	Chief Financial Officer	July 14, 2021	Current Chief Financial Officer of the Company; President, Next Level Consultants Inc., a company that provides consulting and accounting advisory services to private and start-up companies since 2018; and former Controller, Secure Energy Services Inc. (2014 to 2018).
Ian Klassen⁽¹⁾ British Columbia, Canada	55	Director	August 27, 2020	Director and CEO, Grande Portage Resources Ltd. since March 2006; Director and CEO, GMV Minerals Inc. since December 2007; Director ExeBlock Technology Corporation since September 2017 and currently its Interim CEO; former Director of Canabo Medical Corp., now Aleafia Health Inc. (March 2014 to March 2018), G6 Materials Corp. (January 2012 to May 2016); Sixty North Gold Mining Ltd. (July 2017 to September 2019) and Transcanna Holdings Inc. (August 2019 to March 2020).
Jacqueline Le Saux⁽¹⁾ Ontario, Canada	68	Director	June 16, 2021	Retired, experienced Canadian health care legal executive focused on securities, pharmaceutical regulatory and intellectual property law. Former Vice President, Legal and Compliance, Purdue Pharma (Canada) (2009 to 2018).

Table of Compensation Excluding Compensation Securities
Name and Position	Year	Salary, Consulting Fee, Retainer or Commission ($)	Bonus ($)	Committee or Meeting Fees ($)	Value of Stock Option ($)	Value of All Other Compensation ($)	Total Compensation ($)
Allen Davidoff CEO	2021	221,840	25,000	Nil	63,072	Nil	246,840
	2020	196,097	Nil	Nil	63,072	Nil	259,169
	2019	192,000	Nil	Nil	17,137	Nil	209,137
Amar Keshri⁽¹⁾ CFO	2021	85,000	N/A	N/A	17,446	Nil	102,446
	2020	N/A	N/A	N/A	N/A	N/A	N/A
	2019	N/A	N/A	N/A	N/A	N/A	N/A
James Fairbairn⁽¹⁾ Former CFO	2021	58,500	Nil	Nil	Nil	Nil	58,500
	2020	30,000	Nil	Nil	15,635	Nil	45,635
	2018	30,000	Nil	Nil	12,510	Nil	42,510
William Farley⁽²⁾ Director	2021	6,000	Nil	1,200	55,963	N/A	63,163
	2020	N/A	N/A	N/A	N/A	N/A	N/A
	2019	N/A	N/A	N/A	N/A	N/A	N/A
Ian Klassen⁽³⁾ Director	2021	6,000	Nil	2,200	86,728	Nil	94,928
	2020	Nil	Nil	Nil	30,988	Nil	30,988
	2019	Nil	Nil	Nil	Nil	Nil	Nil
Jacqueline Le Saux ⁽²⁾ Director	2021	6,000	Nil	2,300	54,463	N/A	62,763
	2020	N/A	N/A	N/A	N/A	N/A	N/A
	2019	N/A	N/A	N/A	N/A	N/A	N/A
Raymond Pratt ⁽⁴⁾ Director	2021	Nil	Nil	300	57,922	N/A	58,222
	2020	N/A	N/A	N/A	N/A	N/A	N/A
	2019	N/A	N/A	N/A	N/A	N/A	N/A
Bruce Rowlands⁽⁵⁾ Former Director	2021	40,950	Nil	2,600	Nil	Nil	43,550
	2020	36,000	Nil	Nil	41,348	Nil	77,348
	2019	Nil	Nil	Nil	Nil	Nil	Nil
Paul Van Damme Director	2021	6,000	Nil	3,600	41,841	Nil	51,441
	2020	Nil	Nil	Nil	33,387	Nil	33,387
	2019	Nil	Nil	Nil	Nil	Nil	Nil
Allan Williams⁽⁶⁾ Former Director	2021	20,000	Nil	Nil	Nil	Nil	20,000
	2020	Nil	Nil	Nil	33,387	Nil	33,387
	2019	Nil	Nil	Nil	Nil	Nil	Nil

Compensation Securities
Name and Position	Type of Compen-sation Security	Number of Compensation Securities, Number of Underlying Securities and Percentage of Class ⁽¹⁾	Date of Issue or Grant	Issue, Conver-sion or Exercise Price ($) ⁽¹⁾	Closing Price of Security or Underlying Security on Date of Grant ($) ⁽¹⁾	Closing Price of Security or Underlying Security at Year End ($)	Expiry Date
Allen Davidoff⁽²⁾ CEO	N/A	Nil	N/A	N/A	N/A	N/A	N/A
Amar Keshri⁽³⁾ CFO	Stock Option	21,294 3.5%	Jul 14, 2021	$2.41	$2.41		Jul 14, 2026
James Fairbairn Former CFO	N/A	Nil	N/A	N/A	N/A	N/A	N/A
William Farley⁽⁴⁾ Director	Stock Option	21,294 13,706 5.8%	May 12, 2021 Dec 21, 2021	$1.88 $2.54	$1.88 $2.54	$2.50	May 12, 2026 Dec 21, 2026
Ian Klassen⁽⁵⁾ Director	Stock Option	29,812 7,412 6.1%	Jan 11, 2021 Dec 21, 2021	$3.29 $2.54	$3.29 $2.54	$2.50	Jan 11, 2026 Dec 21, 2026
Jacqueline Le Saux⁽⁶⁾ Director	Stock Option	21,294 13,706 5.8%	Jun 16, 2021 Dec 21, 2021	$1.76 $2.54	$1.76 $2.54	$2.50	Jun 16, 2026 Dec 21, 2026
Raymond Pratt⁽⁷⁾ Director	Stock Option	30,000 4.9%	Dec 21, 2021	$2.54	$2.54	$2.50
Bruce Rowlands Former Director	N/A	Nil	N/A	N/A	N/A	N/A	N/A
Paul Van Damme⁽⁸⁾ Director	Stock Option	21,671 3.6%	Dec 21, 2021	$2.54	$2.54	$2.50	Dec 21, 2026
Allan Williams Former Director	N/A	Nil	N/A	N/A	N/A	N/A	N/A


Name and Address of Beneficial Owner	Shares Beneficially Owned		Percentage of Shares Beneficially Owned
5% and Greater Shareholders:
Prevail Partnerships LLC (1)		977,318		7.5	%

Directors and Named Executive Officers:
Davidoff, Allen (2)		511,454		3.9	%
Farley, William (3)		35,000		*	%
Haworth, Stephen (4)		7,026		*	%
Keshri, Amar (5)		15,526		*	%
Klassen, Ian (6)		92,759		*	%
Le Saux, Jacqueline (7)		35,000		*	%
MacDonald, David (8)		22,777		*	%
May, Charlotte (9)		22,676		*	%
Pratt, Raymond (10)		30,000		*	%
Van Damme, Paul (11)		123,993		*	%
All executive officers and directors as a group (10 persons)		896,126		6.9	%

	USD amount			GBP amount			Total
		$			$			$
Cash		13,813,058			-			13,813,058
Accounts payable and accrued liabilities		(76,178	)		(143,900	)		(220,078	)
Net exposure		13,736,880			(143,900	)		13,592,980

Effect of +/- 10% change in currency		1,373,688			(14,390	)

Services	Year Ended December 31,
Services	2021	2020
Audit Fees⁽¹⁾	$49,000	$18,750
Audit-Related Fees⁽²⁾	397	--
Tax Fees⁽³⁾	2,500	--
Other Fees⁽⁴⁾	16,000	--
Total	$67,897	$18.750

	Note		December 31, 2021			December 31, 2020
				$			$
Assets

Current
Cash				18,851,244			171,271
Accounts receivable				51,539			14,351
Contract payments		5		–			1,606,320
Prepaid expenses		6		1,270,556			264,199

TOTAL CURRENT ASSETS				20,173,339			2,056,141
Non-current
Contract payments		5		1,606,320			–
Intangible assets		7		256,243			234,316

Total Assets				22,035,902			2,290,457

Liabilities

Current
Accounts payable and accrued liabilities		8,10		700,999			1,034,213

TOTAL CURRENT LIABILITY				700,999			1,034,213
Non-current
Derivative warrant liability		9(g)		4,597,332			–

Total Liabilities				5,298,331			1,034,213

Shareholders’ Equity

Share capital		9		20,009,154			8,258,395
Share-based payments, warrant reserve and other		9		6,386,459			1,003,609
Obligation to issue shares		7(c)		32,238			32,238
Deficit				(9,690,280	)		(8,037,998	)

Total Shareholders’ Equity				16,737,571			1,256,244

Total Liabilities and Shareholders’ Equity				22,035,902			2,290,457

/s/ “Allen Davidoff”		/s/ “Paul Van Damme”
Director		Director

	Note		Number of common shares		Share capital			Reserves			Obligation to issue shares		Share subscriptions received in advance			Equity component on convertible loans			Deficit			Total
						$			$			$		$			$			$			$

Balance, December 31, 2018				5,359,444		5,863,872			581,486			–		–			5,202			(6,129,022	)		321,538

Share-based payments				–		–			26,317			–		–			–			–			26,317
Share subscriptions received in advance				–		–			–			–		70,000			–			–			70,000
Net loss for the year				–		–			–			–		–			–			(629,576	)		(629,576	)

Balance, December 31, 2019				5,359,444		5,863,872			607,803			–		70,000			5,202			(6,758,598	)		(211,721	)

Shares issued pursuant to private placement		9(b)		1,555,314		2,465,023			91,297			–		(70,000	)		–			–			2,486,320
Share issuance costs		9(b)		–		(70,500	)		11,066			–		–			–			–			(59,434	)
Convertible loan debt forgiveness				–		–			–			–		–			(5,202	)		5,202			–
Obligation to issue shares		7(c)		–		–			–			32,238		–			–			–			32,238
Share-based payments		9(f)		–		–			293,443			–		–			–			–			293,443
Net loss for the year				–		–			–			–		–			–			(1,284,602	)		(1,284,602	)

Balance, December 31, 2020				6,914,758		8,258,395			1,003,609			32,238		–			–			(8,037,998	)		1,256,244

Shares issued pursuant to private placements		9(b)		2,085,687		763,572			–			–		–			–			–			763,572
Shares issued pursuant to IPO		9(b)		3,261,000		9,252,009			–			–		–			–			–			9,252,009
Reclassification of derivative warrant liability		9		–		–			4,460,000			–		–			–			–			4,460,000
Share issuance costs		9(b)		–		(1,377,364	)		521,251			–		–			–			–			(856,113	)
Options exercised		9(b)		51,106		149,172			(65,172	)		–		–			–			–			84,000
Warrants exercised		9(b)		651,583		2,888,370			(32,387	)		–		–			–			–			2,855,983
Shares issued for services		9(b)		25,553		75,000			–			–		–			–			–			75,000
Share-based payments		9(f)		–		–			499,158			–		–			–			–			499,158
Net loss for the year				–		–			–			–		–			–			(1,652,282	)		(1,652,282	)

Balance, December 31, 2021				12,989,687		20,009,154			6,386,459			32,238		–			–			(9,690,280	)		16,737,571

Name	Place of Incorporation	Ownership Percentage
XORTX Pharma Corp.	Canada	100%

	Classification

Cash	FVTPL
Accounts payable and accrued liabilities	amortized cost
Derivative warrant liability	FVTPL

	December 31 2021		December 31 2020
		$		$

Research and development		714,716		220,084
Insurance		441,388		—
Investor relations conferences and services		60,254		44,115
Consulting		50,000		—
Administrative services		4,198		—
Prepaid expenses		1,270,556		264,199

Cost	Total
	$
Balance, December 31, 2019		378,814
Additions		46,588
Impairment		(100,220	)
Balance, December 31, 2020		325,182
Additions		39,809
Balance, December 31, 2021		364,991

Accumulated amortization	Total
		$
Balance, December 31, 2019		106,426
Amortization		20,098
Impairment		(35,658	)
Balance, December 31, 2020		90,866
Amortization		17,882
Balance, December 31, 2021		108,748

Carrying values	Total
		$
At December 31, 2020		234,316
At December 31, 2021		256,243

	December 31 2021		December 31 2020
		$		$
Trade payables		410,701		389,982
Accrued liabilities		290,298		644,231
Total		700,999		1,034,213

	Number of Warrants			Exercise price

Balance, December 31, 2019		341,119		$	9.39
Granted – February 28, 2020		1,555,317		$	2.94
Expired – January 10, 2020		(341,119	)	$	9.39

Balance, December 31, 2020		1,555,317		$	2.94
Granted – February 9, 2021		2,085,687		$	4.70
Granted – October 15, 2021		3,341,900			*US$4.77
Exercised		(640,012	)	$	3.34
Expired		(1,215,816	)	$	2.94
Balance, December 31, 2021		5,127,076		$	5.58

Exercise Price		Number Outstanding		Expiry date	Average Remaining Contractual Life
	$4.70		1,785,176	February 9, 2026	4.11 years
	US$4.77		3,341,900	October 15, 2026	4.79 years

	2021	2020
Dividend yield	Nil	Nil
Annualized volatility	100%	151.64% - 152.24%
Risk-free interest rate	0.36% - 1.19%	0.33%
Expected life	5 years	5 years

	Number of Options			Exercise price
Balance, December 31, 2019		183,124		$	5.87
Granted – June 23, 2020		268,307		$	1.64
Granted – August 25, 2020		12,776		$	2.82
Balance, December 31, 2020		464,207		$	3.29
Granted – January 11, 2021		59,624		$	3.29
Granted – May 12, 2021		42,588		$	1.88
Granted – June 16, 2021		21,294		$	1.76
Granted – July 14, 2021		63,882		$	2.41
Granted – December 21, 2021		86,495		$	2.54
Exercised		(51,106	)	$	1.64
Expired		(80,917	)	$	3.40
Balance, December 31, 2021		606,067		$	3.10
Vested and exercisable, December 31, 2021		482,683		$	3.38

Exercise Price	Number Outstanding	Number Exercisable	Average remaining Contractual Life
$5.87	127,760	127,760	1.21 years
$5.87	21,294	21,294	1.85 years
$1.64	170,354	114,991	3.48 years
$2.82	12,776	12,776	3.66 years
$3.29	59,624	59,624	4.03 years
$1.88	42,588	27,801	4.36 years
$1.76	21,294	21,294	4.46 years
$2.41	63,882	10,648	4.54 years
$2.54	86,495	86,495	4.98 years
	606,067	482,683

	December 31 2021

Balance at December 31, 2019 and 2020	$	—
Warrants issued February 9, 2021		5,358,000
Warrants exercised		(425,900	)
Fair value adjustment		(472,100	)
Fair value reclassified to reserves		(4,460,000	)
Warrants issued October 15, 2021		7,425,000
Fair value adjustment		(2,827,668	)
Balance at December 31, 2021	$	4,597,332

	December 31, 2021
Share price	$	2.05
Risk-free interest rate		1.23	%
Dividend yield		0	%
Expected volatility		100	%
Remaining term (in years)		4.8

	Short-term employee benefits		Share-based payments		Total
		$		$		$
Year ended December 31, 2019 Directors and officers		224,166		29,646		253,812

Year ended December 31, 2020 Directors and officers		262,097		217,816		479,913

Year ended December 31, 2021 Directors and officers		593,856		331,809		925,665

Expiry date	$
2032		135,000
2033		748,000
2034		325,000
2035		287,000
2036		364,000
2037		618,000
2038		1,089,000
2039		553,000
2040		847,000
2041		1,153,000
Total		6,119,000

		December 31, 2021				December 31, 2020
	Level	Carrying Value		Estimated Fair Value ^*		Carrying Value		Estimated Fair Value ^*
			$		$		$		$
FVTPL
Cash	1		18,851,244		18,851,244		171,271		171,271
Other financial liabilities
Accounts payable and accrued liabilities	2		700,999		700,999		1,034,213		1,034,213
FVTPL
Derivative warrant liability	3		4,597,332		4,597,332		—		—

	December 31, 2021		December 31, 2020
	$		$

Cash		18,851,244		171,271

	Payments due by period as of December 31, 2021
	Total		Less than 3 months		Between 3 months and 1 year		1-3 years
		$		$		$		$

Accounts payable and accrued liabilities		700,999		700,999		—		—

		700,999		700,999		—		—

	USD amount			GBP amount			Total
		$			$			$
Cash		13,813,058			—			13,813,058
Accounts payable and accrued liabilities		(76,178	)		(143,900	)		(220,078	)
Net exposure		13,736,880			(143,900	)		13,592,980

Effect of +/- 10% change in currency		1,373,688			(14,390	)

Exhibit Number	Description
1.1	Articles and Notice of Articles of the Company (incorporated by reference to Exhibit 3.1 to the Company’s Draft Registration Statement on Form F-1 filed on May 26, 2021)
2.1*	Specimen common share certificate
2.2	Form of Common Share Purchase Warrant (incorporated by reference to Exhibit 4.1 to the Company’s Amendment No. 1 to the Registration Statement on Form F-1 filed on September 16, 2021)
2.3	Form of pre-funded warrant (incorporated by reference to Exhibit 4.2 to the Company’s Amendment No. 1 to the Registration Statement on Form F-1 filed on September 16, 2021)
2.4*	Form of Underwriter’s Warrant Agreement
4.1%	Investigator Initiated-Clinical Trial Agreement, dated August 3, 2020, by and between the Company and Icahn School of Medicine at Mount Sinai (incorporated by reference to Exhibit 10.1 to the Company’s Draft Registration Statement on Form F-1 filed on May 26, 2021)
4.2#	Employment Agreement, dated August 1, 2021, by and between the Company and Allen Davidoff (incorporated by reference to Exhibit 10.2 to the Company’s Amendment No. 1 to the Registration Statement on Form F-1 filed on September 16, 2021)
4.3%	Master Services Agreement, dated July 20, 2017, by and between the Company and Cato Research Canada Inc. (incorporated by reference to Exhibit 10.3 to the Company’s Draft Registration Statement on Form F-1 filed on May 26, 2021)
4.4#%	Consulting Agreement, dated February 1, 2021, by and between the Company and David Sans (incorporated by reference to Exhibit 10.4 to the Company’s Draft Registration Statement on Form F-1 filed on May 26, 2021)
4.5#	Consulting Agreement, dated March 1, 2021, by and between the Company and 1282803 Ontario Inc. (incorporated by reference to Exhibit 10.5 to the Company’s Amendment No. 2 to the Registration Statement on Form F-1 filed on October 4, 2021)
4.6%	Master Service and Technology Agreement, dated February 25, 2019, by and between the Company and Prevail InfoWorks, Inc. (incorporated by reference to Exhibit 10.6 to the Company’s Draft Registration Statement on Form F-1 filed on May 26, 2021)
4.7%	Side Letter to Master Service and Technology Agreement, dated February 24, 2020, by and between the Company and Prevail InfoWorks, Inc. (incorporated by reference to Exhibit 10.7 to the Company’s Draft Registration Statement on Form F-1 filed on May 26, 2021)
4.8%	Subscription Agreement, dated February 28, 2020, by and between the Company and Prevail Partners LLC (incorporated by reference to Exhibit 10.8 to the Company’s Draft Registration Statement on Form F-1 filed on May 26, 2021)
4.9#	Consulting Agreement, dated July 1, 2021, by and between the Company and Next Level Consultants Inc. (incorporated by reference to Exhibit 10.10 to the Company’s Amendment No. 1 to the Draft Registration Statement on Form F-1 filed on July 21, 2021)
4.10%	Standard Exclusive License Agreement with Know How dated effective as of June 23, 2014, by and between the Company and the University of Florida Research Foundation, Inc. (incorporated by reference to Exhibit 10.11 to the Company’s Registration Statement on Form F-1 Filed on August 12, 2021)
4.11#	Consulting Agreement, dated July 1, 2021, by and between the Company and Haworth Biopharmaceutical Consulting Services Inc. (incorporated by reference to Exhibit 10.12 to the Company’s Amendment No. 1 to the Draft Registration Statement on Form F-1 filed on July 21, 2021)
4.12%	Patent Rights Purchase Agreement, dated effective as of December 5, 2012, by and between Dr. Richard Johnson, Dr. Takahiko Nakagawa, and Revascor Inc. (incorporated by reference to Exhibit 10.13 to the Company’s Registration Statement on Form F-1 filed on August 12, 2021)
4.13	Form of Warrant Agency Agreement with Continental Stock Transfer & Trust Company (incorporated by reference to Exhibit 10.14 to the Company’s Amendment No. 1 to the Registration Statement on Form F-1 filed on September 16, 2021)

4.14	Consulting Agreement, dated March 1, 2018, by and between the Company and W.B. Rowlands & Co. Ltd. (incorporated by reference to Exhibit 10.15 to the Company’s Amendment No. 1 to the Registration Statement on Form F-1 filed on September 16, 2021)
4.15*#	Consulting Services Agreement, dated effective December 20, 2021, by and between the Company, W.B. Rowlands & Co. Ltd., and William Bruce Rowlands
4.16#	Stock Option Plan (incorporated by reference as Schedule B to Exhibit 99.2 to the Company’s Form 6-K filed on November 23, 2021.)
4.17*%	Patent Rights Purchase Agreement dated effective May 26, 2014 between Dr. Richard Johnson, Dr. Takahiko Nakagawa and the Company
4.18*%	Equity Agreement dated effective June 23, 2014 between the Company and the University of Florida Research Foundation, Inc.
4.19*%	Sponsored Research Agreement dated May 27, 2021 between the Regents of the University of Colorado and the Company
4.20*%	Combined Master Services Agreement made on July 19, 2021 between the Company and Quotient Sciences Limited
4.21*	Development and Clinical Manufacturing Services Agreement dated effective August 17, 2021 between the Company and Lonza Ltd.
4.22*	Global Master Services Agreement between Altasciences Company Inc., (a contract research organization) and the Company dated effective December 22, 2021
4.23*	Proposal for XORTX Therapeutics Inc., dated February 21, 2022, by and between the Company and Covar Pharmaceuticals Inc.
4.24*	Proposal for XORTX Therapeutics Inc., dated December 6, 2021, by and between the Company and Covar Pharmaceuticals Inc.
4.25*%	Proposal, dated as of March 29, 2022, by and between the Company and Curia Spain, S.A.U.
4.26*#	Consulting Amending Agreement, dated as of January 27, 2022, by and between the Company and Stephen Haworth
4.27*#	Agreement, dated as of November 1, 2021, by and between the Company and Amar Keshri
8.1	Subsidiaries of the Company (incorporated by reference to Exhibit 21.1 to the Company’s Draft Registration Statement on Form F-1 filed on May 26, 2021)
11.1*	Code of Conduct
12.1*	Rule 13a-14(a)/15d-14(a) Certification of Chief Executive Officer
12.2*	Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer
13.1*	Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
13.2*	Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
15.1*	Management Discussion and Analysis of the Company for the year ended December 31, 2021
15.2*	Audit Committee Charter
15.3*	Consent of independent registered public accounting firm (Smyth LLP)
101	The following materials from the Company’s Annual Report on Form 20-F for the fiscal year ended December 31, 2021, formatted in eXtensible Business Reporting Language (XBRL): (i) Consolidated Financial Statements for the Years Ended December 31, 2021,2020 and 2019; (ii) Consolidated Statements of Comprehensive Loss for the years ended December 31, 2021, 2020 and 2019; (iii) Consolidated Statements of Changes in Shareholders’ Equity for the years ended December 31, 2021, 2020 and 2019; (iv) Consolidated Statements of Cash Flows for the years ended December 31, 2021, 2020 and 2019; and (v) Notes to Consolidated Financial Statements for the Years Ended December 31, 2021, 2020 and 2019
104	Cover Page Interactive Data File (formatted as Inline eXtensible Business Reporting Language (iXBRL) and contained in Exhibit 101)