RELATED PARTY TRANSACTIONS |
9 Months Ended |
|---|---|
Sep. 30, 2011 | |
| RELATED PARTY TRANSACTIONS |
17. RELATED PARTY TRANSACTIONS
Jamey
Weichert, the Company’s Chief Scientific Officer, director,
shareholder and principal founder is a faculty member at the
University of Wisconsin-Madison (“UW”). Cellectar
paid $16,082 to the UW during 2009 for research related
activities.
Cellectar
made contributions of $25,000 to the UW Foundation, a
not-for-profit, tax-exempt Wisconsin corporation, which serves as
the official fundraising and gift-receiving organization for the UW
and other donor-designated units of the UW System during the year
ended December 31, 2009. During the nine months ended
September 30, 2011, the Company made contributions totaling
$125,000 to the UW Foundation for use towards research activities
associated with the development of the Company’s
compounds. No payments were made to UW during the nine months
ended September 30, 2010 or the year ended December 31,
2010.
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