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Commitments and Contingencies
 12 Months Ended
Jun. 30, 2012
Commitments and Contingencies
13. Commitments and Contingencies

Operating Leases

The Company leases its office and research laboratory space in Watertown, Massachusetts through April 6, 2014. In addition to base rent, the lease agreement requires the Company to pay for utilities, taxes, insurance, maintenance and other operating expenses. The Company leases laboratory and office space in Malvern, U.K. through August 2016, subject to a 6-month advance notice of cancellation at September 2014. The Company also leases certain office equipment under operating lease agreements that expire through calendar year 2016.

 

At June 30, 2012, the Company’s total future minimum lease payments under non-cancellable operating leases were as follows:

 

Fiscal Year:

       

2013

    $ 450   

2014

      360   

2015

      18   

Thereafter

      2   
  

 

 

  
   $ 830   
  

 

 

  

Rent expense related to operating leases charged to operations was approximately $466,000 for fiscal 2012, $449,000 for fiscal 2011 and $449,000 for fiscal 2010.

Litigation

The Company is subject to various routine legal proceedings and claims incidental to its business, which management believes will not have a material effect on the Company’s financial position, results of operations or cash flows.