NOTE 13 SIGNIFICANT AGREEMENTS
Merial Limited
In September 2009, we entered into a world-wide license and development agreement with Merial Limited (Merial), a world leading animal health company, for a long acting pain management product for companion animals. We received a nonrefundable upfront license fee and performed reimbursable development services. In May 2011, we received notice of termination from Merial. We recognized $0.6 million in revenue related to development services to Merial for the year ended 2011.