FIXED ASSETS

9 Months Ended

Sep. 30, 2012

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

5. FIXED ASSETS

Fixed assets consisted of the following at December 31:

	2011			2010
Office and laboratory equipment	$	3,069,889		$	2,984,375
Computer software		4,000			—
Leasehold improvements		2,324,672			2,317,597
Total fixed assets		5,398,561			5,301,972
Less accumulated depreciation and amortization		(2,353,996	)		(1,791,483	)
Fixed assets, net	$	3,044,565		$	3,510,489

For the years ended December 31, 2011 and 2010, the Company incurred approximately $585,000 and $580,000 of depreciation expense, respectively.

During the nine months ended September 30, 2012, the change to net fixed assets consisted of an increase of approximately $384,083 to accumulated depreciation and amortization and purchases of equipment totaling approximately $37,000.