Lightwave Logic Acquires Worldwide License Agreement to Corning's Organic Electro-Optical Materials
LONGMONT, Colo., April 8, 2014 /PRNewswire/ -- Lightwave Logic, Inc. (OTCQB: LWLG) has entered into a sole worldwide license agreement with Corning Incorporated (NYSE: GLW) enabling Lightwave to integrate Corning's organic electro-optical chromophores into Lightwave Logic's portfolio of electro-optic polymer materials. The agreement allows Lightwave to use the licensed patents within a defined license field that includes communications, computing, power, and power storage applications utilizing the nonlinear optical properties of their materials. Lightwave Logic is 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.
Tom Zelibor, chairman and CEO of Lightwave Logic commented, "We are extremely pleased to acquire rights to Corning's organic electro-optical materials. Together with the recent advancements we have made developing our new multi-chromophore synthesis process, the addition of these materials will significantly expand the number of potential chromophore combinations to drive the continuous improvement of powerful nonlinear organic electro-optical materials. These materials will be used in state of the art photonic devices to fulfill today's needs and the future demands of data centers and telecommunications networks for many years to come."
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:
SOURCE Lightwave Logic, Inc.