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Commitments and Contingencies (Tables)
9 Months Ended
Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]  
Schedule of milestone payments
Milestone  Payment 
Filing of an Investigational New Drug (or any foreign equivalent) for a Licensed Product  $50,000 
Dosing of first patient in a Phase 1 Clinical Trial of a Licensed Product  $100,000 
Dosing of first patient in a Phase 2 Clinical Trial of a Licensed Product  $250,000 
Receipt of New Drug Application (“NDA”) (or foreign equivalent) approval for a Licensed Product  $500,000 
Achievement of First Commercial Sale of Licensed Product  $1,000,000 

 

Schedule of UMB minimum royalty payments
Years   Minimum
Annual
Royalty
 
Prior to First Commercial Sale   $ N/A  
Year of First Commercial Sale   $ N/A  
First calendar year following the First Commercial Sale   $ 25,000  
Second calendar year following the First Commercial Sale   $ 25,000  
Third calendar year following the First Commercial Sale   $ 100,000  

 

Schedule of shall pay UMB fees
    Payment      
1   $ 92,095     Upon execution of the July 2021 Sponsored Research Agreement
2   $ 92,095     Six months after the start of project work as outlined in the July 2021 Sponsored Research Agreement
3   $ 92,095     Upon completion of the project work as outlined in the July 2021 Sponsored Research Agreement

 

Schedule of future amounts due under sponsored study and research agreements
Year ended September 30,   Amount  
2023   $ 828,404  
Total   $ 828,404