Annual report pursuant to Section 13 and 15(d)

Note 9 - Intangible Assets

v3.20.2
Note 9 - Intangible Assets
12 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Intangible Assets Disclosure [Text Block]
9.
Intangible assets:
 
In
2009
and again in
2012,
the Corporation entered into agreements with Neptune Wellness Solutions Inc. (
Neptune
) pursuant to which the Corporation obtained a license and exercised its option under this license agreement to pay in advance all of the future royalties payable to Neptune. This license allows the Corporation to exploit the intellectual property rights in order to develop novel active pharmaceutical ingredients into commercial products for the prescription drugs market. The license agreement, together with the Corporation-owned intellectual property, allows the “freedom to operate” for CaPre, which is currently the Corporation’s only prescription drug candidate in development. The Corporation believes that upon the expiry of the last licensed Neptune patent in
2022,
the Corporation’s expanding patent portfolio will cover CaPre, and that it will
not
require any licenses to support the commercialization of CaPre.
 
March 31, 2020   Cost     Accumulated
depreciation
    Net book value  
     
$
     
$
     
$
 
License    
18,025
     
13,781
     
4,244
 
                         
 
 
March 31, 2019   Cost     Accumulated
depreciation
    Net book value  
     
$
     
$
     
$
 
License    
18,988
     
12,602
     
6,386
 
                         
 
Amortization expense on intangible assets for the years ended
March 31, 2020
and
2019
was
$1,910
and
$1,949,
respectively, and have been included in research and development expenses.