Quarterly report pursuant to Section 13 or 15(d)

Licensed Technology

v3.10.0.1
Licensed Technology
9 Months Ended
Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Licensed Technology
(4)
Licensed Technology
 
On May 15, 2015, we acquired Abeona Therapeutics LLC. which had an exclusive license through Nationwide Children’s Hospital to the AB-101 and AB-102 patent portfolios for developing treatments for patients with Sanfilippo Syndrome Type A and Type B. The license is amortized over the life of the license of 20 years.
 
On August 3, 2016, we announced we entered into the EB Agreement with EBRP and EBMRF to collaborate on gene therapy treatments for EB.
 
We also entered into a license with Stanford for the AAV-based gene therapy EB-201 (AAV DJ COL7A1) technology, and we intend to perform preclinical development and perform clinical trials of a gene therapy treatment for EB based upon such in-licensed technology. EB-201 (AAV DJ COL7A1) is a pre-clinical candidate targeting a novel, AAV-mediated gene editing and delivery approach (known as homologous recombination) to correct gene mutations in skin cells (keratinocytes) for patients with RDEB. The licenses are amortized over the life of the license of 20 years.
 
Licensed technology consists of the following (in thousands):
 
 
 
September 30, 2018
 
 
December 31, 2017
 
 
 
Gross

carrying

value
 
 
Accumulated

amortization
 
 
Gross

carrying

value
 
 

Accumulated

Amortization
 
Amortizable intangible assets Licensed technology
 
$
4,608
 
 
$
891
 
 
$
4,608
 
 
$
631
 
 
Amortization expense related to intangible assets totaled $87,000 and $260,000 for the three and nine months ended September 30, 2018, respectively, and totaled $87,000 and $448,000 for the three and nine months ended September 30, 2017, respectively. The aggregate estimated amortization expense for intangible assets remaining as of September 30, 2018 is as follows (in thousands):
 
2018
 
 
$
86
 
2019
 
 
 
346
 
2020
 
 
 
346
 
2021
 
 
 
346
 
2022
 
 
 
346
 
over 5 years
 
 
 
2,247
 
 
 
 
 
 
 
Total
 
 
$
3,717