Related Party Transactions

6 Months Ended

Dec. 31, 2016

Related Party Transactions

Related Party Transactions

11.Related Party Transactions

Certain of the Company’s affiliates, including members of its senior management and Board of Directors, as well as their respective family members and other affiliates, have relationships and agreements among themselves as well as with the Company and its affiliates, that create the potential for both real, as well as perceived, conflicts of interest. These include Dr. David M. Goldenberg, the Company’s Chairman, Chief Scientific Officer and Chief Patent Officer, Ms. Cynthia L. Sullivan, the President and Chief Executive Officer, who is the wife of Dr. David M. Goldenberg, and certain companies with which the Company does business, including the Center for Molecular Medicine and Immunology (“CMMI”), which has ceased operations, and IBC Pharmaceuticals, Inc., a majority-owned subsidiary.

The Company incurred $1 thousand and $4 thousand of legal expenses on behalf of CMMI for patent related matters for each of the three and six-month periods ended December 31, 2016, as compared to $5 thousand and $14 thousand for the three and six-month periods ended December 31, 2015, respectively. The Company has first rights to license those patents, and may decide whether or not to support them.

For the three and six-month periods ended December 31, 2016, Dr. Goldenberg received approximately $10 thousand and $20 thousand, respectively, in compensation for his services to IBC. For the three and six-month periods ended December 31, 2015, such compensation was approximately $22 thousand and $44 thousand, respectively.