RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2013

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

3. RELATED PARTY TRANSACTIONS

On October 31, 2012, EntreMed China obtained the necessary local regulatory approvals to establish a bank account in Beijing. Prior to establishing a bank account, EntreMed China incurred certain startup and initial operating expenses, which were advanced by the Company’s Chief Executive Officer on behalf of EntreMed China, totaling $86,683. The full amount was repaid to the Company’s Chief Executive Officer in February 2013.

In connection with the successful completion of the 2012 Financing, as discussed in Note 6 below, and prior to his appointment to the Board of Directors, the Company paid a 6% advisory fee to Emerging Technology Partners LLC, of which the Company’s Chairman is a general partner, for due diligence, its role in structuring and negotiating the transaction and as reimbursement for fees incurred. The 2012 Financing was approved by stockholders at the Company’s annual meeting in 2012.