Related Party Transactions

9 Months Ended

Mar. 31, 2017

Related Party Transactions

Related Party Transactions

12. Related Party Transactions

One of the Company’s Directors, Timothy Block, is President of the Baruch S. Blumberg Institute (“Blumberg Institute”). On May 29, 2015, the Company entered into a Sponsored Research Agreement (“Agreement”) with Blumberg Institute, pursuant to which the Company is sponsoring research by investigators affiliated with the Blumberg Institute with respect to TXL. The Company incurred expenses related to the agreement of approximately $75,000 and $0 for the nine months ended March 31, 2017 and 2016, respectively.

The Company is a party to a Master Services Agreement dated June 19, 2014 with Clinical Supplies Management, Inc. (“CSM”), pursuant to which CSM provides the Company with pharmaceutical and clinical supply management services in support of clinical research programs. James Sapirstein, CEO of ContraVir, was a director of CSM, which is a private company, until October 15, 2016. For the nine months ended March 31, 2017 and 2016, the Company incurred expenses related to services performed by CSM of approximately $ 286,900 and $433,000, respectively. As of March 31, 2017 there was an outstanding payables balance of approximately $40,400.

The Company is a party to a Consulting agreement dated June 1, 2016 with Gabriele Cerrone. Mr. Cerrone is a principal stockholder of the Company and provides general corporate consulting services. For the nine months ended March 31, 2017 and 2016, the Company incurred expenses related to services performed by Mr. Cerrone of $100,000 and $0, respectively.