INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

NOTE 7. INTANGIBLE ASSETS

The value of the Company’s intangible assets including gross asset value and carrying value is summarized below ($ in thousands):

					Human		Anti-ferritin
	Bertilimumab		NanomAbs		Antibodies		Antibody
	iCo		Yissum		Kadouche		MabLife		Total
Balance as of December 31, 2013	$	2,087	$	567	$	568	$	385	$	3,607
Addition		-		-		-		111		111
Amortization		(167)		(46)		(47)		(43)		(303)
Balance, December 31, 2014		1,920		521		521		453		3,415
Additions		-		-		-		-		-
Amortization		(167)		(46)		(46)		(45)		(304)
Balance, December 31, 2015	$	1,753	$	475	$	475	$	408	$	3,111
Gross asset value	$	2,509	$	694	$	700	$	547	$	4,450
Accumulated amortization		(756)		(219)		(225)		(139)		(1,339)
Carrying value December 31, 2015	$	1,753	$	475	$	475	$	408	$	3,111

See Note 6 for a discussion of specific rights acquired in connection with the purchase of each intangible asset.

The Company’s intangible assets above were determined by its management to have a useful life between 7 and 15 years. Amortization expense amounted to $0.3 million each for the years ended December 31, 2015 and 2014.

Estimated amortization expense for each of the five succeeding years, based upon the Company’s intangible assets owned at December 31, 2015 is as follows ($ in thousands):

Period Ending December 31,	Amount
2016	$	305
2017		305
2018		305
2019		305
2020		305
2021 and thereafter		1,586
Total	$	3,111