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Related Party
3 Months Ended
Mar. 31, 2020
Related Party Transactions [Abstract]  
Related Party

Note 13. Related Party

 

Dr. Yun Yen, who is a member of the Company’s Board of Directors and a stockholder, serves as the President and Chairman of the Board for the Sino-American Cancer Foundation (the “Foundation”) and served as the President for the Taipei Medical University (the “University”), from August 1, 2011 through July 31, 2016.    

 

From time to time, the Company performs research testing services, on an arms-length basis, for the Foundation. The Company recognized zero in revenue during the first quarters of 2020 and 2019, as consideration for such services. Additionally, the Company subleased certain of its headquarters facilities to the Foundation prior to April 2019. The Company recognized $8,000 in the first quarter of 2019, as consideration for such sublease. As of March 31, 2020, and December 31, 2019, an insignificant amount was owed to the Company by the Foundation in connection with these relationships.

 

From time to time, the Company performs genetic sequencing services, on an arms-length basis, for the University. The Company recognized $49,000 and $13,000 as consideration for such services in the first quarters of 2020 and 2019, respectively. As of March 31, 2020, and December 31, 2019, $49,000 and $39,000, respectively, was owed to the Company by the University in connection with this relationship.

 

As more fully described in Note 14, in April 2017, the Company, through an affiliated company formed for the purpose of the relationship, entered into a cooperation agreement (the “JV Agreement”) with Xilong Scientific Co., Ltd. (“Xilong Scientific”) and Fuzhou Jinqiang Investment Partnership (LP) (“FJIP”) to form a joint venture under the laws of the People’s Republic of China (“PRC”) called Fujian Fujun Gene Biotech Co., Ltd. (“FF Gene Biotech”). Xilong Scientific is an affiliate of Xi Long USA, Inc., a large stockholder of the Company that, as of March 31, 2020, owned 9.3% of the outstanding shares of the Company’s common stock, and FJIP is owned by key management of FF Gene Biotech, including Dr. Han Lin Gao, the Chief Scientific Officer and a large stockholder of the Company and the owner of approximately 25% of FJIP.

 

Fulgent Pharma, LLC, or Fulgent Pharma, a former subsidiary of one of the Company's subsidiaries utilizes space in the facility at which the Company’s laboratory and corporate headquarters are located. Fulgent Pharma reimburses the Company for the portion of the rent the Company pays that is attributable to the space it uses, which amounts are not significant. As of March 31, 2020, and December 31, 2019, $25,000 and $26,000, respectively, was due from Fulgent Pharma as a result of this arrangement, which is recorded in Other receivable in Other current assets in the accompanying Condensed Consolidated Balance Sheets.