Intangible Assets and Goodwill

9 Months Ended

Sep. 30, 2011

Intangible Assets and Goodwill

Intangible Assets and Goodwill

(7)  Intangible Assets and Goodwill

Intangible assets, net of accumulated amortization, and goodwill are as follows:

		September 30, 2011							December 31, 2010
	Estimated Life	Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization			Net
	(In thousands)
Intangible Assets:
IPR&D	Indefinite	$	11,800	—			$	11,800	$	11,800	—			$	11,800
Amgen Amendment	16 years	14,500		$	(1,794	)	12,706		14,500		$	(1,121	)	13,379
TopoTarget Agreement	1.75 years	2,400		(2,400		)	—		2,400		(2,057		)	343
Core Technology	4.5-11 years	1,948		(1,240		)	708		1,948		(1,040		)	908
Strategic Partner Agreement	8 years	630		(630		)	—		630		(224		)	406
Total Intangible Assets		$	31,278	$	(6,064	)	$	25,214	$	31,278	$	(4,442	)	$	26,836
Goodwill	Indefinite	$	8,965	—			$	8,965	$	8,965	—			$	8,965

The estimated fair value attributed to the April 2008 agreement (“TopoTarget Agreement”) between the Company (as a successor to CuraGen) and TopoTarget A/S (“TopoTarget”) relates to the Company’s rights under the TopoTarget Agreement to receive up to $6 million in either potential commercial milestone payments related to future net sales of Belinostat or 10% of any sublicense income received by TopoTarget (“TopoTarget Payments”).  In February 2010, TopoTarget entered into a co-development and commercialization agreement for Belinostat with Spectrum Pharmaceuticals, Inc. which resulted in the Company’s receipt of $3 million of the TopoTarget Payments.  The Company recorded this cash receipt as Other Income for the nine months ended September 30, 2010.

During the nine months ended September 30, 2011, the Company recorded an impairment loss of $0.3 million in Strategic Partnership Agreement to amortization of intangible asset expense due to the Company’s termination of rights to intellectual property underlying that Strategic Partnership Agreement.