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Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of intangible assets by major asset class
The following sets forth goodwill and intangible assets by major asset class:
 
 
 
 
December 31, 2017
 
December 31, 2016
 
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

 
$
10,513,371

 
$
—

 
$
10,513,371

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

 
(5,681,673
)
 
120,855

 
5,802,528

 
(5,618,854
)
 
183,674

Licenses
8 – 17
 
1,323,761

 
(1,190,609
)
 
133,152

 
1,323,761

 
(1,161,861
)
 
161,900

CELLECTRA®(b)
5 – 11
 
8,106,270

 
(7,252,108
)
 
854,162

 
8,106,270

 
(6,825,028
)
 
1,281,242

GHRH(b)
11
 
335,314

 
(271,948
)
 
63,366

 
335,314

 
(240,264
)
 
95,050

Bioject (c)
2 – 15
 
5,100,000

 
(1,405,556
)
 
3,694,444

 
5,100,000

 
(562,222
)
 
4,537,778

Other(d)
18
 
4,050,000

 
(2,906,250
)
 
1,143,750

 
4,050,000

 
(2,681,250
)
 
1,368,750

Total intangible assets
 
 
24,717,873

 
(18,708,144
)
 
6,009,729

 
24,717,873

 
(17,089,479
)
 
7,628,394

Total goodwill and intangible assets
 
 
$
35,231,244

 
$
(18,708,144
)
 
$
16,523,100

 
$
35,231,244

 
$
(17,089,479
)
 
$
18,141,765


(a)
Goodwill was recorded from the Inovio AS acquisition in January 2005, the acquisition of VGX Pharmaceuticals 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 Pharmaceuticals.
(c)
Bioject intangible assets represent the estimated fair value of developed technology and intellectual property which were recorded from the acquisition of Bioject.
(d)
Other intangible assets represent the estimated 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, 2017 is expected to be incurred as follows:
 
Year ending December 31,
 
2018
$
1,249,584

2019
1,066,251

2020
547,081

2021
520,414

2022
492,818

Thereafter
2,133,581

 
$
6,009,729