LONGMONT, Colo., May 11, 2015 /PRNewswire/ -- Lightwave Logic,
Inc. (OTCQB: LWLG), a technology company focused on the development
of Next Generation Photonic Devices and Non-Linear Optical
Polymer Materials Systems for applications in high speed
fiber-optic data communications and optical computing, announced
today that it has achieved operating capability of its in-house
Class 100 Clean Room in which it will complete the development of
prototype photonic devices enabled by its advanced organic
electro-optic polymer material systems.
Additionally, the Company has announced that the Joint Institute
for Laboratory Astrophysics (JILA) has certified three Lightwave
Logic employees who will now be able to utilize JILA's facilities
and equipment located at the University of
Colorado, Boulder.
Lightwave Logic also announced that it would not renew its
Sponsored Research Agreement with the University of Colorado when it expires at the end
of May.
Tom Zelibor, Chairman and Chief
Executive Officer of Lightwave Logic stated, "We are extremely
pleased to have our own in-house Class 100 clean room. This
is an important milestone in the progression of Lightwave from
solely a materials development company to now also having prototype
photonic device development capabilities. This will greatly
accelerate the implementation of our goal to revolutionize optical
communications with photonic devices based on our proprietary
organic electro-optic polymer materials systems.
"In light of completion of this important milestone, we will not
renew our Sponsored Research Agreement with the University of Colorado when it expires on
May 31st. This is in keeping with our
stated August of 2012 goal not to have academic entities on our
critical path for the development of our devices or
materials. This will allow us to better control the quality
of work as it progresses towards commercialization.
"Furthermore, we are excited to have three of our employees
certified to use the JILA's astrophysics laboratory at the
University of Colorado on an as needed
basis. This is a world-class facility with millions of
dollars of advanced photonic and other device processing equipment
that will compliment the capabilities of our own clean room."
For more information about Lightwave Logic, please visit the
Company's website at following URL: www.lightwavelogic.com
Powered by Lightwave Logic
Lightwave Logic, Inc. is a development stage company that
produces prototype electro-optic demonstration devices and is
moving toward commercialization of its high-activity,
high-stability organic polymers for applications in electro-optical
device markets. Electro-optical devices convert data from electric
signals into optical signals for use in high-speed fiber-optic
telecommunications systems and optical computers. For more
information, about the Company please visit the corporate website
at: www.lightwavelogic.com.
Safe Harbor Statement
The information posted in this release may contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. You can identify these
statements by use of the words "may," "will," "should," "plans,"
"explores," "expects," "anticipates," "continue," "estimate,"
"project," "intend," and similar expressions. Forward-looking
statements involve risks and uncertainties that could cause actual
results to differ materially from those projected or anticipated.
These risks and uncertainties include, but are not limited to, lack
of available funding; general economic and business conditions;
competition from third parties; intellectual property rights of
third parties; regulatory constraints; changes in technology and
methods of marketing; delays in completing various engineering and
manufacturing programs; changes in customer order patterns; changes
in product mix; success in technological advances and delivering
technological innovations; shortages in components; production
delays due to performance quality issues with outsourced
components; those events and factors described by us in Item 1.A
"Risk Factors" in our most recent Form 10-K; other risks to which
our Company is subject; other factors beyond the Company's
control.
For Further Information Contact:
Steven Cordovano
Lightwave Logic
203-952-6373
steve@lightwavelogic.com
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SOURCE Lightwave Logic, Inc.