Intangible Assets

12 Months Ended

Dec. 31, 2012

Intangible Assets [Abstract]

Intangible Assets

Note 3. Intangible Assets

The following is a summary of intangible assets which consists of licenses and patents:

	Weighted Average Amortization period (years)	Cost		Accumulated Amortization		Net Book Value
December 31, 2012
Licenses	7.72	$	462,234	$	252,019	$	210,215
Patents	3.3		1,893,185		1,247,672		645,513
Total	4.2	$	2,355,419	$	1,499,691	$	855,728
December 31, 2011
Licenses	8.72	$	462,234	$	224,708	$	237,526
Patents	3.3		1,893,185		1,051,145		842,040
Total	4.4	$	2,355,419	$	1,275,853	$	1,079,566

Amortization expense was $223,838 and $218,782 in 2012 and 2011, respectively.

During the year ended December 31, 2011, the Company incurred an $88,727 patent write off cost due to abandonment of patents related to Azathioprine. These costs are reflected in research and development expense in the consolidated statement of operations.

Based on the balance of licenses and patents at December 31, 2012, the annual amortization expense for each of the succeeding five years is estimated to be as follows:

Year	Amortization Expense
2013	$	222,800
2014	$	222,800
2015	$	173,800
2016	$	61,800
2017	$	20,800

License fees and royalty payments are expensed annually as incurred as the Company does not attribute any future benefits other than within that period.