XML 41 R23.htm IDEA: XBRL DOCUMENT v3.10.0.1
Related Party Transactions
12 Months Ended
Dec. 31, 2018
Related Party Transaction, Due from (to) Related Party [Abstract]  
Related Party Transactions
Related Party Transactions
Exela PharmSci, Inc. (“Exela”)
We entered into a commercialization agreement with Exela in 2007. Under the license agreement, as amended, we and Exela cross-licensed certain technology relating to the manufacture of argatroban, an API, in exchange for rights to certain sublicensing fees or development payments and profit sharing. The revenue sharing arrangement was terminated in December 2017.
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 over 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.
We had no revenue from transactions with Exela in 2018. We recognized $2.6 million in 2017 and $2.2 million in 2016 as research and development revenue from transactions with Exela. We had no receivables at December 31, 2018 and $1.6 million of receivables due from Exela at December 31, 2017.
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 products to AstraZeneca PLC, to Alfa Aesar, which is a purchasing agent of AstraZeneca PLC, and also to Asymchem Life Science Co, Ltd, which is a contract manufacturer for AstraZeneca PLC.
We recognized product revenue of $0.6 million in 2018, $0.1 million in 2017 and de minimis revenue in 2016 from transactions with AstraZeneca PLC. We recognized no revenue from transactions with Alfa Aesar in 2018 and 2017 and $0.4 million of product revenue in 2016. We recognized de minimis revenue from Asymchem Life Science Co, Ltd in 2018, $75 thousand in 2017, and de minimis revenue in 2016. At December 31, 2018, we had $0.2 million of receivables and at December 31, 2017, we had $0.1 million of receivables due from AstraZeneca, PLC. At December 31, 2018, we had no receivables and at December 31, 2017, we had $0.1 million of receivables due from Asymchem Life Science Co, Ltd. At December 31, 2018 and 2017, we had no receivables due from Alfa Aesar.