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Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of intangible assets by major asset class
The following sets forth the goodwill and intangible assets by major asset class:
 
 
 
 
December 31, 2016
 
December 31, 2015
 
Useful
Life
(Yrs)
Gross
 
Accumulated
Amortization
 
Net Book
Value
 
Gross
 
Accumulated
Amortization
 
Net Book
Value
Indefinite lived:
 
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill(a)
 
 
$
10,513,371

 
$
—

 
$
10,513,371

 
$
10,113,371

 
$
—

 
$
10,113,371

Definite lived:
 
 
 
 
 
 
 
 
 
 
 
 
 
Patents
8 – 17
 
5,802,528

 
(5,618,854
)
 
183,674

 
5,802,528

 
(5,516,122
)
 
286,406

Licenses
8 – 17
 
1,323,761

 
(1,161,861
)
 
161,900

 
1,323,761

 
(1,133,113
)
 
190,648

CELLECTRA®(b)
5 – 11
 
8,106,270

 
(6,825,028
)
 
1,281,242

 
8,106,270

 
(6,397,947
)
 
1,708,323

GHRH(b)
11
 
335,314

 
(240,264
)
 
95,050

 
335,314

 
(208,581
)
 
126,733

Bioject (c)
2 – 15
 
5,100,000

 
(562,222
)
 
4,537,778

 
—

 
—

 
—

Other(d)
18
 
4,050,000

 
(2,681,250
)
 
1,368,750

 
4,050,000

 
(2,456,250
)
 
1,593,750

Total intangible assets
 
 
24,717,873

 
(17,089,479
)
 
7,628,394

 
19,617,873

 
(15,712,013
)
 
3,905,860

Total goodwill and intangible assets
 
 
$
35,231,244

 
$
(17,089,479
)
 
$
18,141,765

 
$
29,731,244

 
$
(15,712,013
)
 
$
14,019,231


(a)
Goodwill was recorded from the Inovio AS acquisition in January 2005, the acquisition of VGX in June 2009 and the acquisition of Bioject in April 2016 for $3.9 million, $6.2 million and $400,000, respectively.
(b)
CELLECTRA® and GHRH are developed technologies which were recorded from the acquisition of VGX.
(c)
Bioject intangible assets represent the fair value of developed technology and intellectual property which were recorded from the acquisition of Bioject.
(d)
Other intangible assets represent the fair value of acquired intellectual property from the Inovio AS acquisition.
Schedule of finite-lived intangible assets, future amortization expense
Amortization expense related to intangible assets at December 31, 2016 for each of the next five fiscal years and beyond is expected to be incurred as follows:
 
2017
$
1,618,664

2018
1,249,584

2019
1,066,251

2020
547,081

2021
520,414

Thereafter
2,626,400

 
$
7,628,394