|
Acquisition of Assets (Details Textual) (USD $)
|
0 Months Ended | 0 Months Ended | 0 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Jan. 30, 2013
|
Jan. 30, 2013
Asset purchase agreement
|
Jan. 31, 2013
Asset purchase agreement
Licensee
|
Jan. 31, 2013
Asset purchase agreement
Maximum
|
Jan. 31, 2013
Asset purchase agreement
Exclusive license of multi day injectable insulin in us
|
Jan. 31, 2013
Asset purchase agreement
Phase 2b Ccinical studies for multi day injectable insulin
|
Jan. 31, 2013
Asset purchase agreement
Phase 3b clinical studies for multi day injectable insulin
|
Jan. 31, 2013
Asset purchase agreement
Approval by fda or emea to allow marketing and sales of multi day injectable insulin
|
Jan. 31, 2013
Asset purchase agreement
Twelve month cumulative sales of multi day injectable insulin
|
Jan. 31, 2013
Asset purchase agreement
Twelve month cumulative sales of multi day injectable insulin
Licensee
|
|
| Business Acquisition, Cost of Acquired Entity, Cash Paid | $ 500,000 | $ 400,000 | ||||||||
| Business Acquisition, Purchase Price Allocation, Assets Acquired | 100,000 | |||||||||
| Business Acquisition, Contingent Consideration, at Fair Value | 44,000,000 | 2,000,000 | 2,000,000 | 5,000,000 | 10,000,000 | 25,000,000 | ||||
| Business Acquisition Contingent Consideration Amount Payment Period | 30 days | 30 days | 30 days | 30 days | 90 days | |||||
| Business Combination, Contingent Consideration Arrangements, Description | Two million dollars ($2,000,000) to be paid within 30 days after the exclusive license of the multi-day injectable insulin in the United States to a commercial pharmaceutical company. | Two million dollars ($2,000,000) related to the initiation of Phase 2b clinical studies for a multi-day injectable insulin, payable 30 days after the first dosing of a patient in a formal Phase 2b clinical study; | Five million dollars ($5,000,000) after the initiation of Phase 3 clinical studies for the multi-day injectable insulin by the Company or a licensee of the Company, payable 30 days after the first dosing of a patient in a formal Phase 3 clinical study. | Ten million dollars ($10,000,000) upon the approval by the FDA or EMEA to allow the marketing and sales of the multi-day injectable insulin by the Company or a licensee of the Company, payable 30 days after the receipt of the approval letter or notice from the FDA or EMEA. | Twenty five million dollars ($25,000,000) if the twelve month cumulative sales of the multi-day injectable insulin by the Company or a licensee of the Company reaches five hundred million dollars ($500,000,000) in any one given twelve consecutive month period, so long as such period occurs during the life of the patents included in the purchased assets, payable 90 days after the twelfth month in which sales equaled or exceeded five hundred million dollars. | |||||
| Cumulative Sales Amount | $ 500,000,000 | |||||||||