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Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

The Company’s intangible assets consisted of the following:

 

 

 

March 31, 2021

 

 

 

Estimated

Useful Lives

 

Gross

Carrying

Value

 

 

Accumulated

Amortization

 

 

Net Book

Value

 

Internally developed patents

 

6-20 years

 

$

946,828

 

 

$

(486,548

)

 

$

460,280

 

Acquired licenses

 

16-20 years

 

 

285,000

 

 

 

(285,000

)

 

 

 

Total intangible assets subject to amortization

 

 

 

 

1,231,828

 

 

 

(771,548

)

 

 

460,280

 

IPR&D assets

 

Indefinite

 

 

12,418,967

 

 

 

 

 

 

12,418,967

 

Total

 

 

 

$

13,650,795

 

 

$

(771,548

)

 

$

12,879,247

 

 

 

 

December 31, 2020

 

 

 

Estimated

Useful Lives

 

Gross

Carrying

Value

 

 

Accumulated

Amortization

 

 

Net Book

Value

 

Internally developed patents

 

6-10 years

 

$

884,787

 

 

$

(479,908

)

 

$

404,879

 

Acquired licenses

 

16-20 years

 

 

285,000

 

 

 

(285,000

)

 

 

 

Total intangible assets subject to amortization

 

 

 

 

1,169,787

 

 

 

(764,908

)

 

 

404,879

 

IPR&D assets

 

Indefinite

 

 

12,418,967

 

 

 

 

 

 

12,418,967

 

Total

 

 

 

$

13,588,754

 

 

$

(764,908

)

 

$

12,823,846