Related Party Transactions

3 Months Ended

Sep. 30, 2017

Related Party Transactions

Related Party Transactions

11.Related Party Transactions

Certain of the Company’s affiliates, including members of its senior management and Board, 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 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 $2 thousand and $3 thousand of legal expenses on behalf of CMMI for patent related matters for each of the three-month periods ended September 30, 2017 and 2016, respectively. The Company has first rights to license those patents, and may decide whether or not to support them.

For each of the three-month periods ended September 30, 2017 and 2016, Dr. Goldenberg received approximately $10 thousand, in compensation for his services to IBC.