Expansion of Intellectual Property and
Technology Moat Advances Company for Near-Term Licensing
Agreements
ENGLEWOOD, Colo., March 2,
2023 /PRNewswire/ -- Lightwave Logic, Inc. (NASDAQ:
LWLG), a technology platform company leveraging its proprietary
electro-optic (EO) polymers to transmit data at higher speeds with
less power, today provided a corporate update in conjunction
with the filing of its Annual Report on Form 10-K for the quarter
and year ended December 31, 2022.
Fourth Quarter 2022 Company Highlights:
- As of December 31, 2022, the
company's cash and cash equivalents were $24.1 million, enabling it to finance operations
through April 2024.
- Provided a world-class figure of merit performance for
modulators using electro-optical polymers and a plasmonic device
design in conjunction with Polariton Technologies, achieving
ultra-low drive voltages and ultra-high bandwidths - which are
extremely well suited for next generation internet and optical
networking transceivers beyond 800Gbps.
- Acquired polymer technology and intellectual property assets of
Chromosol Ltd (UK) including a critical manufacturing process for
foundry Process Development Kits (PDKs)
- Secured three U.S. patents including:
-
- Patent for breakthrough chip-scale packaging technique to
enable foundry-level packaging of polymer modulators using
chip-scale techniques, enabling simplified high-volume
manufacturing through foundry-level packaging.
- Patent for novel hybrid silicon photonics polymer modulator
fabrication process to advance high-volume foundry potential;
enables stable, high yielding poling of polymer devices with
silicon photonics circuits.
- Patent for new hybrid photonics to enable improved modulator
fabrication in high-volume foundry manufacturing - simplifies
fabrication of polymer modulators designed to integrate with
silicon photonics to enable enhanced internet traffic flow and
reduced energy usage.
- Presented at leading industry conferences internationally,
including the 2023 Laser Focus World Executive Forum and the 2023
Photonics Spectra Conference.
The full text of the company's Annual Report on Form 10-K for
the year ended December 31, 2022 was
filed with the SEC on March 1, 2023
and can be found here.
Management Commentary
"The fourth quarter of 2022 saw the achievement of world-class
performance with our partners and further expansion of our
intellectual property moat with acquired polymer technology and IP
assets, as well as three additional new patents," said Dr.
Michael Lebby, Chairman and Chief
Executive Officer of Lightwave Logic. "Entering into 2023 we expect
to continue our forward momentum as we review near-term business
opportunities in both licensing the use of our polymer materials as
well as more deeply engage with our partners for technology
transfer.
"During the fourth quarter we provided a world-class figure of
merit performance for modulators using electro-optical polymers and
a plasmonic device design in conjunction with Polariton
Technologies. Building from the world record performance and
demonstration of a 250 GHz super high bandwidth
electro-optical-electrical (EOE) link that was presented at ECOC
through a collaboration with ETH Zurich, these latest figure of merit results
show the potential for extreme power savings for optical network
equipment and demonstrate clearly that polymer-based technology
platforms are positioned well for general implementation. These
results position us extremely well for next generation
ultra-high-capacity interconnects for the hyper-scale market.
"We continued to see strong validation of our intellectual
property (IP) in the fourth quarter with three new patent issuances
to strengthen our portfolio. We secured a patent for a novel
fabrication process to advance high-volume foundry potential, a
second to simplify fabrication of polymer modulators designed to
integrate with silicon photonics and a third to simplify modulator
integration and reliability for high-volume foundry manufacturing
operations. This expansion of our IP moat, paired with our
acquisition of the mission-critical IP assets of Chromosol Ltd (UK)
to strengthen foundry PDK design capabilities with extremely low
temperature ALD Processes, is a part of our ability to advance
initial production trials with our foundry partners and secure our
first licensing agreements in the near-term.
"The industry's interest in polymer technology continues to
rapidly grow, and our ability to evangelize the benefits of
polymers at leading industry events globally has been an important
part of our awareness efforts. As we continue to build thought
leadership, clear technology leadership and progress towards our
first licensing agreements, I firmly believe that we are well
positioned to create sustainable value for our shareholders over
the long-term," concluded Dr. Lebby.
About Lightwave Logic, Inc.
Lightwave Logic,
Inc. (NASDAQ: LWLG) is developing a platform leveraging its
proprietary engineered electro-optic (EO) polymers to transmit data
at higher speeds with less power. The company's high-activity and
high-stability organic polymers allow Lightwave Logic to create
next-generation photonic EO devices, which convert data from
electrical signals into optical signals, for applications in data
communications and telecommunications markets. For more
information, please visit the company's website
at 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.
Investor Relations Contact:
Lucas A. Zimmerman
MZ Group - MZ North America
949-259-4987
LWLG@mzgroup.us
www.mzgroup.us
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SOURCE Lightwave Logic, Inc.