LICENSED TECHNOLOGY

12 Months Ended

Dec. 31, 2015

NOTE 4 – LICENSED TECHNOLOGY

On September 22, 2014, we entered into an exclusive, worldwide, licensing agreement with Licensor to obtain rights to utilize and to sub-license to other pharmaceuticals firms, its patented methods for the extraction of therapeutic biologics from human plasma.

On May 15, 2015, we acquired Abeona Therapeutics LLC which had a an exclusive license through Nationwide Children’s Hospital to the AB-101 and AB-102 patent portfolios for developing treatments for patients with Sanfilippo Syndrome Type A and Type B.

Licensed technology consists of the following:

	December 31,
	2015		2014
Licensed technology	$	7,156,000	$	5,000,000
Less accumulated amortization		547,000		9,000
Licensed technology, net	$	6,609,000	$	4,991,000

Amortization on licensed technology was $538,000 and $9,000 for the years ended December 31, 2015 and 2014, respectively. The aggregate estimated amortization expense for intangible assets remaining as of December 31, 2015 is as follows:

2016	$	582
2017		582
2018		582
2019		582
2020		582
Thereafter		3,699
Total	$	6,609