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Related Party Transactions
9 Months Ended
Mar. 31, 2018
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 no legal expenses on behalf of CMMI for patent related matters in the three-month period ended March 31, 2018 and $3 thousand of legal expenses for the nine-month period ended March 31, 2018. The Company incurred no legal expenses on behalf of CMMI for patent related matters in the three-month period ended March 31, 2017 and $4 thousand of legal expenses for the nine-month period ended March 31, 2017. The Company has first rights to license those patents, and may decide whether or not to support them.

On January 8, 2018 Morris Rosenberg joined the Company as Chief Technology Officer and became a fulltime employee.  Between May 5, 2017 and January 7, 2018 Mr. Rosenberg was engaged by the Company as an independent consultant pursuant to a consulting agreement between the Company and Mr. Rosenberg’s consulting company, MRosenberg BioPharma Consulting LLC. The Company paid MRosenberg BioPharma Consulting LLC $555,099 during this time.  From January 8, 2018 through March 31, 2018, the Company paid MRosenberg BioPharma $517,034 for services agreed upon prior to Mr. Rosenberg becoming a fulltime employee.  As part of his employment contract, Mr. Rosenberg is permitted to continue to provide certain limited outside consulting services through MRosenberg BioPharma Consulting LLC based on certain restrictions outlined in the contract.  Additionally, during his employment period, except with the prior written consent of the Board, Mr. Rosenberg is not permitted to enter into any contract, agreement or other transaction arrangement to provide goods and or services to the Company through MRosenberg BioPharma Consulting LLC.