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Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2015

Commitments and Contingencies [Abstract]

Summary of milestone payment

Milestones		Payments
(1) when Company initiates a Phase I Clinical Trial of a licensed product		$	750,000
(2) when Company initiates a Phase II Clinical Trial of a licensed product			750,000
(3) when Company initiates a Phase III Clinical Trial of a licensed product			1,500,000
(4) Biological License Application filing with U.S. FDA			1,750,000
(5) First commercial sale			1,500,000
(6) after the first $10,000,000 in net sales			1,500,000

Schedule of future minimum obligations on the lease

For the year ending March 31, 2015		$	111,364
For the year ending March 31, 2016			56,008
			167,372

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- Definition

Milestone payments milestone method.

+ References

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- Definition

Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 20

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41502-112717

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