Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

v3.3.1.900
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2015
Commitments and Contingencies [Abstract]  
Summary of milestone payment

 

Milestones   Payments  
       
(1) when Company initiates a Phase I Clinical Trial of a licensed product   $ 750,000  
(2) when Company initiates a Phase II Clinical Trial of a licensed product     750,000  
(3) when Company initiates a Phase III Clinical Trial of a licensed product     1,500,000  
(4) Biological License Application filing with U.S. FDA     1,750,000  
(5) First commercial sale     1,500,000  
(6) after the first $10,000,000 in net sales     1,500,000  
Schedule of future minimum obligations on the lease
For the year ending December 31,      
2016   $ 84,011