Licenses

12 Months Ended

Dec. 31, 2018

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Licenses

8. Licenses

University of Alabama at Birmingham Research Foundation

The Company has an agreement with the University of Alabama at Birmingham Research Foundation (“UABRF”) for the exclusive worldwide license to develop, manufacture, and commercialize certain proprietary technology developed at UABRF. The UABRF agreement expires on the last of the related patent expiration date which may be extended upon patent renewal. The latest of the patent expiration date is currently on August 7, 2033. Under the terms of the amended and restated agreement, the Company is obligated to pay an annual license fee of $20,000 and royalty fees upon the commencement of product sales. Fees incurred under the UABRF agreement totaled $20,000 in each of the years ended December 31, 2018 and 2017, respectively, and are classified as a component of research and development expenses in the accompanying consolidated statements of operations and comprehensive loss.

Janssen Vaccines & Prevention B.V.

The Company has a royalty-bearing, worldwide non-exclusive license agreement with Janssen Vaccines & Prevention B.V. (“Janssen”) for use of its vaccine technology. The Janssen agreement expires on the last of the related patent expiration date which may be extended upon patent renewal. The latest of the patent expiration date is currently on March 21, 2020. Under the agreement, the Company is required to pay an annual license fee and annual royalty fees upon reaching certain milestones in an amount that equals the greater of a percentage of net sales or $100,000. Fees incurred under the Janssen agreement totaled $177,625 and $200,000 for the years ended December 31, 2018 and 2017, respectively, and are included in research and development expenses in the accompanying consolidated statements of operations and comprehensive loss.

Auburn University

The Company has an exclusive, world-wide license agreement to develop, manufacture, and commercialize certain vaccine technology developed at Auburn University. The Auburn University agreement expires on the last of the related patent expiration date which may be extended upon patent renewal. The last of the patent expiration date is currently on August 15, 2025. Under the agreement, the Company is required to pay an upfront fee of $1,000 upon signing of the agreement, an annual license fee of $5,000, and royalty fees from net product sales or sublicenses of the technology. Fees incurred under the Auburn University agreement totaled $5,000 in each of the years ended December 31, 2018 and 2017 and are included in research and development expenses in the accompanying consolidated statements of operations and comprehensive loss.