Related Parties

9 Months Ended

Sep. 30, 2020

Related Party Transactions [Abstract]

Related Parties

9. Related Parties

The Company had consulting agreements that expired in January 2020 with two of its founders who are also directors of the Company. Total consulting expense related to these consulting agreements was $0 for the three and nine months ended September 30, 2020 and $12,500 and $37,500 for the three and nine months ended September 30, 2019, respectively.

In 2011, the Company entered into a Contribution Agreement, Transition Services Agreement (as amended), Collaboration Agreement, Technology License Agreement and Trademark Coexistence Agreement with Arsenal Medical, Inc. (“Arsenal”), a company which shares certain common owners with the Company. During the three and nine months ended September 30, 2019, the Company invoiced Arsenal for an aggregate of $0 and approximately $0.3 million, respectively, primarily for its share of rent and other overhead costs.  The Transition Services Agreement expired in June 2019. All amounts receivable from Arsenal were collected as of December 31, 2019.