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Commitments and Contingencies (Tables) | 6 Months Ended
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Jun. 30, 2017
Commitments and Contingencies [Abstract] |
Summary of milestone payments |
Milestones |  | Date Met |  | Payments |
(1) when Company initiates a Phase 1 Clinical Trial of a licensed product |  | July 2012 |  | $ | 750,000 |
(2) when Company initiates a Phase 2 Clinical Trial of a licensed product |  | September 2016 |  |  | 750,000 |
(3) when Company initiates a Phase 3 Clinical Trial of a licensed product |  | In future |  |  | 1,500,000 |
(4) Biological License Application filing with U.S. FDA |  | In future |  |  | 1,750,000 |
(5) First commercial sale |  | In future |  |  | 1,500,000 |
(6) after the first $10,000,000 in net sales |  | In future |  |  | 1,500,000 |
Total |  |  |  | $ | 7,750,000 |
Schedule of future minimum obligations on the lease |
For the twelve months ending June 30: |  |  |
2018 |  |  | 407,808 |
2019 |  |  | 405,421 |
2020 |  |  | 431,958 |
2021 |  |  | 431,958 |
Thereafter |  |  | 503,951 |
Total |  | $ | 2,181,096

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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=77902758&loc=d3e41502-112717 + Details
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