Intangible Assets, Net

6 Months Ended

Jun. 30, 2019

Intangible Assets, Net [Abstract]

Intangible Assets, Net

5.  Intangible Assets, Net

Intangible assets primarily consist of acquired licenses to utilize certain patents, know-how and technology relating to the Company’s NPS for biomedical applications acquired from Old Dominion University Research Foundation (“ODURF”), Eastern Virginia Medical School, and the University of Southern California. In addition, the Company entered into a Sponsored Research Agreement with Old Dominion University’s Frank Reidy Research Center for Bioelectrics, which includes certain intellectual property rights arising from the research. The Company is amortizing the intangible assets over an estimated useful life of 12 years.

Intangible assets, net consisted of the following (in thousands):

	June 30,		December 31,
	2019		2018
Acquired patents and licenses	$	7,985	$	7,985
Less: Accumulated amortization		(3,105)		(2,772)
	$	4,880	$	5,213

A schedule of the amortization of intangible assets for the remainder of 2019 and the succeeding five fiscal years and thereafter is as follows (in thousands):

Year Ending December 31:
2019 (remaining 6 months)	$	333
2020		665
2021		665
2022		665
2023		665
2024		665
Thereafter		1,222
	$	4,880