Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies

v2.4.0.8
Commitments and Contingencies
 3 Months Ended
Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]
13.  Commitments and Contingencies
 
Under the terms of the Settlement Agreement described in Note 6 – Significant Vendor above, the Company is obligated to engage Fraunhofer to perform at least $3 million of research and development work as directed by iBio by December 31, 2015. As of September 30, 2013, the Company has entered into research services agreements with Fraunhofer representing approximately $1.8 million of the $3 million commitment. Based on the timelines established between the parties upon signing of the agreements, this work is expected to be completed by late 2014.