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Goodwill and Intangible Assets, Net

6 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

8. Goodwill and Intangible Assets, Net

At June 30, 2019 and December 31, 2018, goodwill and intangible assets, net consisted of the following (in thousands):

	June 30, 2019			December 31, 2018
	(unaudited)
Goodwill⁽¹⁾	$	12,977		$	-

Intangible assets:
Acquired IPR&D - OPC1 (from the Asterias Merger) ⁽²⁾	$	31,700		$	-
Acquired IPR&D - VAC2 (from the Asterias Merger) ⁽²⁾		14,840			-
Intangible assets subject to amortization:
Acquired patents		19,010			19,010
Acquired royalty contracts ⁽²⁾		650
Other		10			10
Total intangible assets		66,210			19,020
Accumulated amortization		(16,889	)		(15,895	)
Intangible assets, net	$	49,321		$	3,125

⁽¹⁾	Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired and liabilities assumed in the Asterias Merger (see Note 3).

⁽²⁾	See Note 3 for information on the Asterias Merger which was consummated on March 8, 2019.

BioTime recognized in research and development expenses $475,000 and $581,000 of amortization expense in the three months ended June 30, 2019 and 2018, and $949,000 and $1.2 million in the six months ended June 30, 2019 and 2018, respectively.