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Collaborative and Other Agreements | 12 Months Ended
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Dec. 31, 2016
Collaborative and Other Agreements [Abstract] |
Collaborative and Other Agreements | 9. Collaborative and Other Agreements ﻿ In June 2013, the Company entered into a Collaborative Research and Development Agreement with the United States Army Medical Research and Materiel Command and the Walter Reed Army Institute of Research. The Collaborative Research and Development Agreement is focused on developing and commercializing bacteriophage therapeutics to treat S. aureus infections. During the years ended December 31, 2016 and 2015, the Company recorded no payments to Walter Reed Army Institute of Research under the Collaborative Research and Development Agreement. In March 2013, the Company entered into an Exclusive Channel Collaboration Agreement with Intrexon Corporation (the “ECC Agreement”). This agreement allowed the Company to utilize Intrexon’s synthetic biology platform for the identification, development and production of bacteriophage-containing human therapeutics. The Company paid a one-time technology access fee in 2013 to Intrexon of $3,000,000 in common stock. Pursuant to the agreement, the Company was required to pay Intrexon, in cash or stock, milestone fees of $2,500,000 for the initiation and commencement of the first Phase 2 trial and $5,000,000 upon the first regulatory approval of any product in any major market country. With regard to each product sold by the Company, the Company was required to pay, in cash, tiered royalties on a quarterly basis based on net sales of AmpliPhi Products, calculated on a product-by-product basis. No milestones have been met and no milestone payments have been paid to Intrexon through December 31, 2016. During the year ended December 31, 2016, the Company recorded $61,000 in expenses under the Exclusive Channel Collaboration Agreement, with cash payments totaling $117,000. During the year ended December 31, 2015, the Company recorded $178,000, in expenses under the Exclusive Channel Collaboration Agreement, with cash payments for the year ended December 31, 2015 totaling $125,000. On April 13, 2016, the Company provided written notice to Intrexon of its election to voluntarily terminate the ECC Agreement. The effective date of the termination was July 12, 2016. As of December 31, 2016, the Company had no liability recorded for amounts due to Intrexon. The Company did not incur any early termination penalties as a result of the termination of the ECC Agreement. ﻿ In April 2013, the Company entered into a collaboration agreement with the University of Leicester to develop a phage therapy that targets and kills all toxin types of C. difficile. In August 2013, the Company entered into a collaboration agreement with both the University of Leicester and the University of Glasgow to carry out certain animal model development work. Under these agreements, which are referred to collectively as the Leicester Development Agreements, the Company provided payments to the University of Leicester to carry out in vitro and to the University of Glasgow to carry out animal model development work on the University of Leicester’s development of a bacteriophage therapeutic to resolve C. difficile infections. The Company licensed related patents, materials and know-how from the University of Leicester pursuant to a license agreement entered into in September 2013 (the “Leicester License Agreement”). Under the Leicester Development Agreements, the University of Leicester agreed to provide the bacteriophage and act as overall project coordinator for the development work. All rights, title and interest to any intellectual property developed under the Leicester Development Agreements belong to the Company. Under the Leicester License Agreement, the Company has exclusive rights to certain background intellectual property of the University of Leicester, for which it agreed to pay the University of Leicester royalties based on product sales and make certain milestone payments based on product development. In November 2015 the Company and the University of Leicester entered into a new collaboration agreement in order to renew the parties’ collaboration. This collaboration agreement was set to expire on November 12, 2018. In March 2017, the Company provided the 180 days’ notice to terminate the collaboration agreement originally entered into in November 2015 with University of Leicester. During the year ended December 31, 2016, the Company recorded $166,000 in expenses to the University of Leicester under the Leicester Development Agreements, with cash payments totaling $202,000. During the year ended December 31, 2015, the Company recorded $265,000 in expenses to the University of Leicester under the Leicester Development Agreements, with cash payments in the amount of $290,000. During the year ended December 31, 2016, the Company recognized no expenses and made no cash payments to the University of Glasgow under the Leicester Development Agreements. During the year ended December 31, 2015, the Company paid and expensed $61,000 to the University of Glasgow under the Leicester Development Agreements. In March 2017, the Company provided the 180 days’ notice to terminate the collaboration agreement with University of Leicester. ﻿ In September 2015, the Company entered into a non-exclusive patent license agreement with Takara Bio Inc. (the Takara Agreement). Under this agreement Takara licensed certain patents from the Company related to AAV1 Vector gene delivery systems, for which the Company is an exclusive licensor with the University of Pennsylvania. The Company received a $40,000 non-refundable, up-front licensing payment and is entitled to receive royalties from Takara of 12.0% of net license product sales and 6.0% of service revenues associated with the licensed products. The agreement calls for minimum annual royalties of $15,000 that commenced on February 28, 2016. In addition, the Takara Agreement provides milestone fees to the Company of $30,000 of the first $1,000,000 of licensed product revenues by Takara and an additional $40,000 when cumulative net sales of the licensed product by Takara exceed $2,000,000. During the year ended December 31, 2016, the Company recognized revenue of $15,000 under the Takara Agreement. No such revenue was recognized during the year ended December 31, 2015. ﻿

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- Definition The entire disclosure for collaborative arrangements in which the entity is a participant, including a) information about the nature and purpose of such arrangements; b) its rights and obligations thereunder; c) the accounting policy for collaborative arrangements; and d) the income statement classification and amounts attributable to transactions arising from the collaborative arrangement between participants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 808 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6931272&loc=SL5834143-161434 + Details
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