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Related Party Transactions
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12 Months Ended |
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Dec. 31, 2013
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| Related Party Transactions [Abstract] | |
| Related Party Transactions |
5. Related Party Transactions At December 31, 2013 and 2012 deferred payments totaling $25,500 and $25,500, respectively, were owed to former directors in connection with their service on our Board and are included in the accompanying balance sheets in accounts payable and accrued expenses. As of December 31, 2013, Intrexon Corporation owned approximately 25% of our outstanding common stock. During the year ended December 31, 2013 and 2012, we paid $1,463,019 and $245,519, respectively to Intrexon Corporation (“Intrexon”) under the Exclusive Channel Collaboration Agreement to develop and commercialize lantibiotics (the “Lantibiotic ECC”) and we paid $0 and $0, respectively to Intrexon under the Exclusive Channel Collaboration Agreement to develop and commercialize genetically modified probiotics (the “Probiotic ECC”). The Company’s Chairman, Dr. Frederick Telling, participated in the Company’s July 30, 2012 private placement (see Note 8) and acquired 98,111 shares of our common stock. The participation of Dr. Telling was approved by the disinterested directors. |