Related Party Transactions

12 Months Ended

Dec. 31, 2016

15.	Related Party Transactions

In October 2010, the Company entered into a services agreement with Flagship Ventures Management, Inc., an affiliate of one of its stockholders (and now known as Flagship Pioneering), Flagship Venture Funds, to provide general and administrative services to the Company, including the employer portions of employee health and dental benefit plans for Seres Therapeutics employees and consulting services. The Company made payments under the agreement of $ 17, $502, and $454 during the years ended December 31, 2016, 2015 and 2014, respectively. There were no amounts due to Flagship Pioneering, related to the services agreement as of December 31, 2016 and 2015.

As described in Note 10, in January 2016 the Company entered into a License Agreement with NHS for the development and commercialization of certain product candidates in development for the treatment and management of CDI and IBD, including ulcerative colitis and Crohn’s disease. NHS is a related party since NHS is an affiliate of Nestlé Health Science, one of the Company’s significant stockholders. During the year ended December 31, 2016, the Company recognized $21,766 of related party revenue associated with the License Agreement. As of December 31, 2016, there was $108,814 of deferred revenue related to the License Agreement, which is classified as current or non-current in the consolidated balance sheets. The Company has made no payments to NHS during the year ended December 31, 2016. There is $306 due from NHS as of December 31, 2016 for the reimbursement of development costs, which is classified as other current assets in the Company’s consolidated balance sheet.