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PRNewswire 25-May-2023 8:31 AM
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
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SOURCE Lightwave Logic, Inc.