INTANGIBLE ASSETS AND GOODWILL

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS AND GOODWILL

7. INTANGIBLE ASSETS AND GOODWILL

						December 31, 2020
	Gross Carrying amount		Accumulated Amortization			Cumulative Impairment Charge			Cumulative Currency Translation		Net Book Value
License	$	669	$	(590	)	$	-		$	44	$	123
IPR&D assets		61,500		-			(300	)		833		62,033
	$	62,169	$	(590	)	$	(300	)	$	877	$	62,156

						December 31, 2019
	Gross Carrying amount		Accumulated Amortization			Cumulative Impairment Charge			Cumulative Currency Translation			Net Book Value
License	$	669	$	(521	)	$	-		$	30		$	178
IPR&D assets		61,500		-			(300	)		(622	)		60,578
	$	62,169	$	(521	)	$	(300	)	$	(592	)	$	60,756

The license is held in Israel at SciVac. Amortization expenses for the years ended December 31, 2020 and 2019 amounted to $64 and $62, respectively. Amortization is expected to be approximately $60 per year until its fully amortized. These amounts do not include any amortization related to the IPR&D assets, which will not begin amortizing until the Company commercializes its products.

The IPR&D assets are in VBI Cda and the change in carrying value for IPR&D assets from December 31, 2019 relates to currency translation adjustments which increased by $1,455 for the year ended December 31, 2020. The change in carrying value from December 31, 2018 to December 31, 2019 relates to currency translation adjustments which increased IPR&D assets by $2,552.

			December 31, 2020
	Gross Carrying Amount		Cumulative Impairment Charge			Cumulative Currency Translation			Net Book Value
Goodwill	$	8,714	$	(6,292	)	$	(161	)	$	2,261

			December 31, 2019
	Gross Carrying Amount		Cumulative Impairment Charge			Cumulative Currency Translation			Net Book Value
Goodwill	$	8,714	$	(6,292	)	$	(214	)	$	2,208

The goodwill is in VBI Cda and the change in carrying value from December 31, 2019 relates to currency translation adjustments which increased goodwill by $53 for the year ended December 31, 2020. The change in carrying value for goodwill from December 31, 2018 relates to currency translation adjustments which increased by $235 for the year ended December 31, 2019, excluding the effect of the impairment charge of $6,292.