Related Party Transactions
|9 Months Ended|
Sep. 30, 2015
|Related Party Transactions [Abstract]|
|Related Party Transactions||
9. Related Party Transactions
During the three and nine months ended September 30, 2015 and 2014, we paid $120,214 and $8,093; $165,969 and $474,837, respectively, to Intrexon under the ECC agreements (See Note 8). Included in accounts payable and accrued expenses at September 30, 2015 and 2014 was $250,413 and $2,535, respectively, related to unpaid invoices received from Intrexon relating to work performed under the ECC Agreements. As of September 30, 2015 and 2014 Intrexon owned approximately 24% of our outstanding common stock.
On September 30 2015, the Company and Intrexon Corporation mutually agreed to terminate the Exclusive Channel Collaboration Agreement dated September 30, 2013 regarding the development and commercialization of probiotics (the “Live Biotherapeutic Products ECC”). The termination of the Live Biotherapeutic Products ECC was to enable Oragenics to focus its resources on the lantibiotic and oral mucositis programs.
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
Reference 1: http://www.xbrl.org/2003/role/presentationRef