Intangible Assets, net

6 Months Ended

Jun. 30, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets as of June 30, 2017 and December 31, 2016 comprised the following (in thousands):



	June 30, 2017							December 31, 2016
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Licensed intellectual property	$	4,750	$	(1,827	)	$	2,923	$	4,250	$	(1,580	)	$	2,670

In July 2012, the Company entered into a development collaboration and license agreement with Advanced Liquid Logic, Inc., or ALL, which was acquired by Illumina, Inc. in July 2013. Under the terms of the agreement, the Company established a collaborative program to develop in-vitro diagnostic products incorporating ALL’s proprietary electro-wetting technology in conjunction with the Company’s electrochemical detection technology. During the six months ended June 30, 2017, the Company satisfied certain commercial milestones under this agreement requiring a payment of $500,000 recorded as an addition to licensed intellectual property.

Intellectual property licenses have a weighted average remaining amortization period of 4.93 years as of June 30, 2017. Amortization expense for these licenses was $123,000 and $94,000 for the three months ended June 30, 2017 and 2016, respectively, and was $247,000 and $188,000 for the six months ended June 30, 2017 and 2016, respectively. Estimated future amortization expense for these licenses is as follows (in thousands):



Fiscal Years Ending	Future Amortization Expense
Remaining in 2017	$	298
2018	593
2019	593
2020	593
2021	593
Thereafter	253
Total	$	2,923