Partnering with Delaware Innovation Space,
Inc.
Adesis, Inc., a wholly-owned subsidiary of Universal Display
Corporation (Nasdaq: OLED), today announced that it will open a new
suite of state-of-the-art laboratories in Delaware and expand its
organic chemistry team and R&D programs. This additional
footprint is expected to help drive growth opportunities in areas
including next-generation OLED (organic light emitting diode)
emitter and host materials and meet the growing demand for the
Company’s custom organic synthesis, research & development, and
specialty manufacturing services. Adesis also announced that it
became a sponsor of Delaware Innovation Space (DISI) and joined its
entrepreneurial innovation community. Working with DISI, Adesis
signed an agreement for approximately 7,000 square feet of
laboratory space at the Experimental Station in Wilmington,
Delaware. The new suite of laboratories, which includes additional
ancillary work and meeting space, is expected to augment Adesis’
on-going operations and recently-purchased 47,500 square feet
headquarter building in New Castle.
“Delaware is home to a number of great chemical and
manufacturing companies like Adesis, who are committed to making a
world-class product with a great local workforce,” said U.S.
Senator Christopher Coons (D-Del.). “I am delighted to see Adesis
and their parent company UDC grow in Delaware as they expand their
market reach and product offerings to more users around the
world.”
“We are pleased to announce our expanding footprint and
increased investment to further boost research, innovation and job
opportunities in Delaware,” said Andrew Cottone, President of
Adesis, Inc. “As a leading organic synthesis CRO (contract research
organization), we are adding to and extending our discovery
services and process development capacity for customers across the
pharmaceutical, chemical, biomaterials, and catalysts industries.
We are enhancing our productivity and effectiveness by streamlining
the technology transfer and optimizing the workflow from basic
research to specialty manufacturing. Furthermore, by co-locating in
our New Castle headquarters and the Experimental Station, we
believe that we are building a world-class technology and
manufacturing hub to support our customers from innovation to
commercialization.”
“Adesis continues to invest in Delaware, and we are thrilled
that the company will bring its long track record of innovation to
the Delaware Innovation Space,” said Governor John Carney. “We
partnered with DuPont and the University of Delaware to create the
Innovation Space to foster growth of early-stage scientific-based
companies, and encourage collaboration among Delaware’s most
talented innovators. The addition of Adesis will support that
mission, and we’re thankful for the company’s continued
partnership.”
This recent expansion by Adesis was rapidly enabled by the
seamless cooperation of the Delaware government and business
leaders who have fostered a robust scientific ecosystem.
“The Delaware Innovation Space is pleased to be able to support
the growing needs of Adesis and accelerate its business forward
right here in Delaware,” said Bill Provine, CEO of the Delaware
Innovation Space. “Adesis will be a great new member of our
science-based innovation community, and we look forward to working
with them to further capitalize on the strengths of our new
entrepreneurial ecosystem.”
Adesis has also been assisted by the newly formed Delaware
Prosperity Partnership (DPP). The DPP was recently created by
Delaware as a public/private partnership to accelerate economic
development efforts.
“It has been a pleasure working with Andrew Cottone and Adesis
to help facilitate their Delaware expansion, both in New Castle and
at the Delaware Innovation Space,” said John Riley, Interim CEO of
the DPP. “This would have been difficult to accomplish had the
State, DuPont, and the University of Delaware not set the
foundation for success with the formation of the Delaware
Innovation Space earlier this year.”
About Adesis, Inc.
As a wholly-owned subsidiary of Universal Display Corporation,
Adesis, Inc. is a contract research organization (CRO) supporting
the pharma, biotech, catalysis and a number of other industries.
The CRO specializes in organic and organometallic synthesis, in
milligrams to multi-kilogram quantities. Adesis has a business
model of providing clients with organic chemistry services in three
areas: early stage research, scale up and development, and
specialty manufacturing. With over 20 years of success and
approximately 60 chemists with extensive industry and professional
experience, Adesis supports companies in various industries with
small molecule organic chemistry expertise. Adesis provides a range
of services that can supplement research and development efforts.
It can also act as a specialty manufacturer to reinforce supply
chains. To learn more about Adesis, please visit
http://adesisinc.com/.
About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in
developing and delivering state-of-the-art, organic light emitting
diode (OLED) technologies, materials and services to the display
and lighting industries. To learn more about Universal Display
Corporation, please visit http://www.oled.com.
About Delaware Innovation Space, Inc.
As home to one of the nation’s first and most successful
entrepreneurial ventures founded by Eleuthére Irenée du Pont in
1802, Delaware’s legacy of transformational scientific innovation
continues with the establishment of the Delaware Innovation Space,
Inc. in 2017. The organization is a vital resource in the
scientific startup ecosystem and is a non-profit, public-private
partnership that offers multi-dimensional, resource-rich support
for scientific entrepreneurs at the Experimental Station campus in
Wilmington, Delaware. Delaware Innovation Space offers a centric
location and proximity to world-renowned research institutions,
global multi-national corporations and a thriving scientific
innovation community. More information is available at
https://deinnovates.org.
About Delaware Prosperity Partnership
The Delaware Prosperity Partnership (DPP) was formed in 2017 as
a private entity to lead the state of Delaware's economic
development efforts. Establishment of this private entity was a
critical step to enhance the state's ability to attract, grow and
retain companies; to build a stronger entrepreneurial and
innovation ecosystem; and to support private employers in
identifying, recruiting and developing talent.
This initiative brings together the resources, commitment, and
energy of both public and private sectors and is charged with
certain tasks related to economic development. As Delaware faces a
more competitive environment and intense global competition for
businesses, the DPP will provide the strategic direction for the
state’s economic development activity by tapping private sector
expertise and resources to work in conjunction with the state.
All statements in this document that are not historical, such as
those relating to the Company’s technologies and potential
applications of those technologies, the Company’s expected results
and future declaration of dividends, as well as the growth of the
OLED and CRO market and the Company’s opportunities in that market,
are forward-looking financial statements within the meaning of the
Private Securities Litigation Reform Act of 1995. You are cautioned
not to place undue reliance on any forward-looking statements in
this document, as they reflect the Company’s current views with
respect to future events and are subject to risks and uncertainties
that could cause actual results to differ materially from those
contemplated. These risks and uncertainties are discussed in
greater detail in Universal Display Corporation’s periodic reports
on Form 10-K and Form 10-Q filed with the Securities and Exchange
Commission, including, in particular, the section entitled “Risk
Factors” in Universal Display Corporation’s annual report on Form
10-K for the year ended December 31, 2016. Universal Display
Corporation disclaims any obligation to update any forward-looking
statement contained in this document.
(OLED-C)
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Adesis, Inc./ Universal Display Corporation
Contact:Darice Liu, 609-671-0980
x570investor@oled.commedia@oled.com
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