Company: LCTX
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0000950170-25-036309
Chunk: 185

Company: Lineage Cell Therapeutics, Inc.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 1B
Chunk 185
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. These amounts include amortization expense for right-of-use finance lease assets of $55,000 and $50,000 for the years ended December 31, 2024 and 2023, respectively.

6. Goodwill and Intangible Assets, NetAt December 31, 2024 and 2023, goodwill and intangible assets, net consisted of the following (in thousands): 

        December 31, 2024

        December 31, 2023

        Goodwill (1)
         
        $
        10,672

        $
        10,672

        Intangible assets:

        Acquired IPR&D – OPC1 (from the Asterias Merger) (2)
         
        $
        31,700

        $
        31,700

        Acquired IPR&D – VAC (from the Asterias Merger) (2)

        14,840

        14,840

        46,540

        46,540

        Intangible assets subject to amortization:

        Acquired patents

        18,953

        18,953

        Acquired royalty contracts (3)

        650

        650

        Accumulated amortization (4)

        (19,603
        )

        (19,581
        )

        —

        22

        Intangible assets, net
         
        $
        46,540

        $
        46,562

       (1)Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired and liabilities assumed in the Asterias Merger, see Note 13 (Commitment and Contingencies) for further discussion on the Asterias Merger. To date, we have not recognized any goodwill impairment.(2)Asterias had two IPR&D intangible assets that were valued at $46.5 million as part of the purchase price allocation that was performed in connection with the Asterias Merger. The fair value of these assets at the acquisition date consisted of $31.7 million pertaining to the OPC1 program and $14.8 million pertaining to the VAC platform.(3)Asterias had royalty cash flows under patent families it acquired from Geron Corporation. Such patent families are expected to continue to generate revenue, are not used in the OPC1 or the VAC platform, and are considered to be separate intangible assets under ASC Topic