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Subsequent Events
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6 Months Ended | ||||
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Dec. 31, 2013
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| Subsequent Events [Abstract] | |||||
| Subsequent Events [Text Block] |
In January 2014, the Company entered into a license agreement with a U.S. university whereby iBio acquired exclusive worldwide rights to certain issued and pending patents covering specific candidate products for the treatment of human and veterinary fibrosis. The license agreement provides for payment by the Company of a license issue fee, annual license maintenance fees, reimbursement of prior patent costs incurred by the university, payment of a milestone payment upon regulatory approval for sale of a first product, and annual royalties on product sales. In addition, the Company has agreed to meet certain diligence milestones related to product development benchmarks. As part of its commitment to the diligence milestones, the Company entered a project agreement with the Medical University of South Carolina whereby the Company will collaborate with the principal inventor of the licensed issued and pending patents on further development and preparation of an investigational new drug application for one or more candidate products for the treatment of fibrosis. Effective January 31, 2014, the Company terminated a $1.5 million research services agreement with Fraunhofer. As of December 31, 2013, the Company had incurred $0.5 million in research and development expense related to such agreement. |