6.    Significant Vendor

As of March 31, 2013, Fraunhofer continued to be the Company’s most significant vendor. See Note 13 – Commitments and Contingencies for additional information. The Company has previously disclosed that Fraunhofer was formerly considered a related party during the time from February 2010 through February 2012 in which an executive of Fraunhofer also served as iBio’s former Chief Scientific Officer. The accounts payable balance includes amounts due to Fraunhofer of approximately $2.2 million and $2.5 million as of March 31, 2013 and June 30, 2012, respectively. In addition, the accrued expenses balance includes amounts due to Fraunhofer of approximately $0.1 million as of June 30, 2012. The Company is charged interest by Fraunhofer on certain outstanding balances at the rate of prime plus 2%. For the three months ended March 31, 2013 and 2012, research and development expenses related to Fraunhofer were approximately $0.4 million and $1.0 million, respectively. For the nine months ended March 31, 2013 and 2012, research and development expenses related to Fraunhofer were approximately $1.8 million and $3.4 million, respectively.