Related Party Transactions

12 Months Ended

Dec. 31, 2016

Related Party Transaction, Due from (to) Related Party [Abstract]

Related Party Transactions

Related Party Transactions

Exela PharmSci, Inc.

We signed a commercialization agreement with Exela PharmSci, Inc. (“Exela”) in 2007, whereby Exela agreed to pay to us a contractual percentage share of Exela’s net profit from the sales of licensed products.

Thomas R. Baruch, one of our directors, serves on the board of directors of Exela and is a retired general partner in Presidio Partners 2007, L.P., which owns more than 10% of Exela’s outstanding capital stock. As such, Mr. Baruch has an indirect pecuniary interest in the shares of Exela held by Presidio Partners 2007, L.P. Mr. Baruch is also a general partner in CMEA Ventures Life Sciences 2000, L.P., which owned 7.4% of our common stock until November 10, 2014, at which time the shares were purchased by Presidio Partners 2014, L.P. Mr. Baruch has no direct or indirect pecuniary interest in any shares of our common stock owned by Presidio Partners 2014, L.P.

We recognized $2.2 million in 2016, $4.8 million in 2015 and $7.3 million in 2014, shown in the consolidated statement of operations as revenue sharing arrangement. We had no receivables from Exela at December 31, 2016 and 2015.

AstraZeneca PLC

Pam P. Cheng, a member of our board of directors, joined AstraZeneca PLC as Executive Vice President, Operations and Information Technology in June 2015. We sell biocatalyst product to AstraZeneca and, in addition, we also sell biocatalyst products to Alfa Aesar, which is a purchasing agent of AstraZeneca.

In 2016, we recognized de minimis revenue from AstraZeneca and $0.4 million as product revenue from Alfa Aesar. In 2015, we recognized $0.1 million revenue from AstraZeneca and no product revenue from Alfa Aesar. We had $0.4 million in accounts receivable at December 31, 2016 from Alfa Aesar and no receivables from AstraZeneca PLC at December 31, 2016 and 2015.