Collaboration and Licensing Revenue

The Company generates revenue through contractual agreements with collaborators (known as exclusive channel collaborations, "ECC" or "ECCs") and licensing agreements whereby the collaborators or the licensees obtain exclusive access to the Company's proprietary technologies for use in the research, development and commercialization of products and/or treatments in a contractually specified field of use. Upfront and milestone payments are typically deferred and recognized over the expected life of the Company's technology platform using a straight-line approach. The Company recognizes the reimbursement payments received for research and development services in the period in which the services are performed and collection is reasonably assured. The following tables summarize the amounts recorded as revenue in the consolidated statements of operations for each significant collaboration or licensing agreement for the three months ended March 31, 2016 and 2015.



	Three Months Ended March 31, 2016
	Revenue Recognized From				Total
	Upfront and Milestone Payments		Research and Development Services		Total
ZIOPHARM Oncology, Inc.	$	922	$	6,059	$	6,981
Oragenics, Inc.	263		543		806
Fibrocell Science, Inc.	605		1,252		1,857
Genopaver, LLC	69		1,509		1,578
S & I Ophthalmic, LLC	—		1,186		1,186
OvaXon, LLC	—		694		694
Intrexon Energy Partners, LLC	625		3,363		3,988
Persea Bio, LLC	125		199		324
Ares Trading S.A.	1,597		808		2,405
Thrive Agrobiotics, Inc.	46		388		434
Intrexon Energy Partners II, LLC	500		50		550
Other	1,020		2,250		3,270
Total	$	5,772	$	18,301	$	24,073



	Three Months Ended March 31, 2015
	Revenue Recognized From				Total
	Upfront and Milestone Payments		Research and Development Services		Total
ZIOPHARM Oncology, Inc.	$	644	$	3,157	$	3,801
Oragenics, Inc.	262		8		270
Fibrocell Science, Inc.	448		1,713		2,161
Genopaver, LLC	69		600		669
S & I Ophthalmic, LLC	—		755		755
OvaXon, LLC	—		644		644
Intrexon Energy Partners, LLC	625		2,185		2,810
Persea Bio, LLC	125		115		240
Other	858		2,575		3,433
Total	$	3,031	$	11,752	$	14,783

Except for the agreements discussed below, there have been no significant changes to arrangements with our collaborators and licensees in the three months ended March 31, 2016. See Note 5 in the Company's Annual Report on Form 10-K for the year ended December 31, 2015 for additional details of the Company's existing collaboration and licensing agreements.

Exotech Bio Collaboration

In March 2016, the Company entered into an ECC with Exotech Bio, an affiliate of Harvest and a related party. Exotech Bio was formed for the purpose of entering into the ECC and developing and commercializing products using exosomes carrying a RNA payload designed to kill, suppress, or render immune-visible a cancer cell. Upon execution of the ECC, the Company received a technology access fee in the form of equity in Exotech Bio valued at $5,000 as upfront consideration. The Company is also entitled to up to $52,500 of potential payments for substantive and non-substantive development and commercial milestones for each product developed under the ECC. The Company receives reimbursement payments for research and development services provided pursuant to the ECC. Exotech Bio will pay the Company royalties as a percentage in the lower double-digits on the quarterly net sales of products developed under the ECC, as defined in the agreement. Exotech Bio is responsible for the development and commercialization of the product candidates. The term of the ECC commenced in March 2016 and continues until terminated pursuant to the ECC agreement. The ECC may be terminated by either party in the event of certain material breaches defined in the agreement and may be terminated voluntarily by Exotech Bio upon 90 days written notice to the Company.

Relieve Genetics Collaboration

In March 2016, the Company entered into an ECC with Relieve Genetics, an affiliate of Harvest and a related party. Relieve Genetics was formed for the purpose of entering into the ECC and developing and commercializing products using a viral vector expressing interleukin-10 for the treatment of chronic neuropathic pain resultant from cancer in humans. Upon execution of the ECC, the Company received a technology access fee in the form of equity in Relieve Genetics valued at $4,333 as upfront consideration. The Company is also entitled to up to $52,500 of potential payments for substantive and non-substantive development and commercial milestones for each product developed under the ECC. The Company receives reimbursement payments for research and development services provided pursuant to the ECC. Relieve Genetics will pay the Company royalties as a percentage in the lower double-digits on the quarterly net sales of products developed under the ECC, as defined in the agreement. Relieve Genetics is responsible for the development and commercialization of the product candidates. The term of the ECC commenced in March 2016 and continues until terminated pursuant to the ECC agreement. The ECC may be terminated by either party in the event of certain material breaches defined in the agreement and may be terminated voluntarily by Relieve Genetics upon 90 days written notice to the Company.

Intrexon T1D Partners Collaboration

In March 2016, the Company entered into an ECC with Intrexon T1D Partners, a related party. Pursuant to the ECC, Intrexon T1D Partners received an exclusive license to the Company's technology platform to develop and commercialize products to treat type 1 diabetes. Upon execution of the ECC, the Company received a technology access fee of $10,000 and is entitled to reimbursement of research and development services as provided for in the ECC agreement. The term of the ECC commenced in March 2016 and continues until March 2036; termination prior to that date may be initiated (i) by either party in the event of certain material breaches defined in the agreement or (ii) may be terminated Intrexon T1D Partners upon 90 days written notice to the Company.

Deferred Revenue

Deferred revenue primarily consists of consideration received for upfront and milestone payments in connection with the Company's collaborations and licensing agreements, prepayments for research and development services performed for collaborators and licensees, and prepayments for product and service revenues. Deferred revenue consists of the following:



	March 31, 2016		December 31, 2015
Upfront and milestone payments	$	194,849	$	181,331
Prepaid research and development services	9,439		10,938
Prepaid product and service revenues	5,201		4,759
Other	749		701
Total	$	210,238	$	197,729
Current portion of deferred revenue	$	37,695	$	35,366
Long-term portion of deferred revenue	172,543		162,363
Total	$	210,238	$	197,729

The following table summarizes the remaining balance of deferred revenue associated with upfront and milestone payments for each significant collaboration and licensing agreement:



	March 31, 2016		December 31, 2015
ZIOPHARM Oncology, Inc.	$	29,416	$	30,338
Oragenics, Inc.	8,550		8,813
Fibrocell Science, Inc.	20,840		21,445
Genopaver, LLC	2,181		2,250
Intrexon Energy Partners, LLC	20,000		20,625
Persea Bio, LLC	4,375		4,500
Ares Trading S.A.	51,970		53,567
Thrive Agrobiotics, Inc.	1,575		1,621
Intrexon Energy Partners II, LLC	17,333		17,833
Exotech Bio, Inc.	5,000		—
Relieve Genetics, Inc.	4,333		—
Intrexon T1D Partners, LLC	10,000		—
Other	19,276		20,339
Total	$	194,849	$	181,331