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Other Agreements
3 Months Ended
Mar. 31, 2017
Other Agreements [Abstract]  
Other Agreements

Note 9. Other Agreements

 

NuvoGen Obligation

 

There have been no significant modifications to the terms and conditions of the Company’s NuvoGen obligation since the disclosures made in the Company’s Annual Report on Form 10-K, filed with the SEC on March 23, 2017. The minimum remaining payments due to NuvoGen at March 31, 2017 are as follows for each fiscal year, although actual payments could be significantly more than provided in the table in 2018 and beyond, to the extent that 6% of revenue exceeds $400,000:

 

2017

 

$

600,000

 

2018

 

 

400,000

 

2019

 

 

400,000

 

2020

 

 

400,000

 

2021

 

 

400,000

 

2022 and beyond

 

 

6,298,743

 

Total NuvoGen obligation payments

 

 

8,498,743

 

Less discount

 

 

(26,512

)

Total NuvoGen obligation, net

 

$

8,472,231

 

 

Development Agreements

 

There have been no significant modifications or financial events relating to the development agreements entered into by the Company in prior periods with Illumina, Inc., Invetech PTY Ltd., and Life Technologies Corporation since the disclosures made by the Company in its Annual Report on Form 10-K, filed with the SEC on March 23, 2017.

  

Collaboration Agreements

 

There have been no significant modifications or financial events relating to the previously disclosed collaboration agreements entered into by the Company with Bristol-Myers Squibb and with Merck KGaA since disclosures made by the Company in its Annual Report on Form 10‑K, filed with the SEC on March 23, 2017.

 

Other Agreements with Related Parties

 

Refer to Note 14 for discussion of agreements with related parties.