Intangible assets

3 Months Ended

Mar. 31, 2018

Intangible assets

Intangible assets

6            Intangible assets

The following table presents the Company’s acquired licenses:

	March 31,		December 31,
	2018		2017
	in thousands
Licenses	$	6,288	$	9,551
Less accumulated amortization and impairment		(2,153)		(5,575)
Licenses, net	$	4,135	$	3,976

Amortization expense was $0.1 million for the three months ended March 31, 2018, compared to $0.1 million during the same period in 2017. During the three months ended March 31, 2018, the Company disposed a number of fully amortized, expired licenses.

The Company acquired research and development (“Acquired R&D) as part of its acquisition of Inocard in July 2014. The carrying amount as at March 31, 2018 is $5.7 million (December 31, 2017: $5.6 million).