Company signs its first material supply and
license agreement for its Perkinamine® series
materials
ENGLEWOOD, Colo., May 25, 2023
/PRNewswire/ -- Lightwave Logic, Inc. (NASDAQ: LWLG), a technology
platform company leveraging its proprietary electro-optic polymers
to transmit data at higher speeds with less power, today
announced the company's first commercial material supply license
agreement for its Perkinamine® chromophore
materials.
This initial commercial material supply license agreement will
provide Perkinamine® chromophore materials for polymer
based photonic devices and photonic integrated circuits (PICs).
Supplying licensed materials is one prong of the Company's
three-prong revenue model and business strategy that includes
polymer modulator products as well as technology transfer. The
license agreement represents tangible commercial progress for
electro-optic polymers as part of the company's business plan.
The supply license agreement terms include supply of
electro-optic polymer material, license initiation fee, per unit
royalties, minimum royalty levels that increase annually, and
minimum sales volume in units.
Dr. Michael Lebby, Chairman and
Chief Executive Officer of Lightwave Logic, commented: "As our
first commercial agreement, this material supply license agreement
for our Perkinamine® chromophores recognizes market
acceptance and competitive advantage of our technology and
validates the first prong of our business model. All of us at
Lightwave Logic have worked very hard for this milestone, and as we
enter into this exciting new phase for our company, we look forward
to advancing our commercial business plans."
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 and 10-Q; 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.