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Related Party Transactions
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9 Months Ended | |||
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Mar. 31, 2015
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| Related Party Transactions [Abstract] | ||||
| Related Party Transactions Disclosure [Text Block] |
In January 2012, the Company entered into an agreement with Novici Biotech, LLC (“Novici”) in which iBio’s President is a minority stockholder. Novici performs laboratory feasibility analyses of gene expression, protein purification and preparation of research samples. The accounts payable balance includes amounts due to Novici of approximately $102,000 and $38,000 at March 31, 2015 and June 30, 2014, respectively. Research and development expenses related to Novici were approximately $258,000 and $124,000 for the three months ended March 31, 2015 and 2014, respectively, and approximately $738,000 and $430,000 for the nine months ended March 31, 2015 and 2014, respectively. Effective January 1, 2015, the Company is leasing office space on a month to month basis from an entity owned by a minority shareholder of the Company for approximately $2,000 per month. |
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- Definition
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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