Subsequent Events

6 Months Ended

Jun. 30, 2014

Subsequent Events [Abstract]

Subsequent Events

Note 6. Subsequent Events

  On July 16, 2014, Mymetics SA entered into a Master Services Agreement with Imugene Limited, under which Mymetics SA will be the exclusive producer of Imugene's HER2/neu cancer vaccine product (the "Cancer Vaccine Product"), based on the peptides they will supply Mymetics. Imugene intends to use the Cancer Vaccine Product in a combined Phase I and Phase II trial in the Eastern European Union. Under the terms of the MSA Mymetics shall receive as compensation an option to acquire 2.5 million shares of Imugene common stock at an exercise price of AUD 0.025, milestone payments of up to CHF 2.5 million and royalties on net sales of the Cancer Vaccine Product worldwide. Mymetics can terminate the MSA at any time for convenience but Imugene can terminate the MSA only after the Phase II clinical trial for convenience. Termination after the Phase II clinical trial will reduce certain milestone payments to Mymetics under the MSA.