SAN JOSE, Calif., May 17, 2016 /PRNewswire/ -- Ultratech, Inc. (Nasdaq: UTEK), a leading supplier of lithography, laser processing and inspection systems used to manufacture semiconductor devices and highbrightness LEDs (HB LEDs), as well as atomic layer deposition (ALD) systems, announced the formation of a research collaboration with Professor Thomas J. Webster, Ph.D. at Northeastern University, to study the use of nano-materials produced via ALD for medical applications. The initial research has focused on inhibiting bacterial growth and inflammation and promoting cell and tissue growth.
Dr. Thomas Webster, Chair and Professor of Chemical Engineering at Northeastern, said, "We are very excited to embark on this collaboration with Ultratech-CNT. While we are in the early stages of this study, the initial results of our work suggest that the materials and processes we are developing could have long-range impact in this field."
Ultratech-CNT Senior Research Scientist Ritwik Bhatia, Ph.D., who has been working closely with Professor Webster, explained, "This type of work is a marked departure from the traditional applications and uses for ALD and dramatically opens up a new field where material science and life sciences intersect. I am extremely pleased to be part of this research program and excited by the potential benefits for healthy surgical outcomes that this research represents."
Arthur W. Zafiropoulo, Ultratech's Chairman and Chief Executive Officer, said, "At Ultratech, we have long maintained and understood that material science would play a key role in moving many emerging technological fields forward. We also feel that it can serve a much larger role, namely in improving the quality of life. In linking the expertise of Prof. Webster and his research group with Ultratech-CNT's ALD group, we believe we are taking steps to solidly and efficiently pursue our scientific and commercial goals."
This release includes forwardlooking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forwardlooking statements can generally be identified by words such as "anticipates," "expects," "remains," "thinks," "intends," "believes," "estimates," and similar expressions and include management's current expectation of its longer term prospects for success. These forwardlooking statements are based on our current expectations, estimates, assumptions and projections about our business and industry, and the markets and customers we serve, and they are subject to numerous risks and uncertainties that may cause these forwardlooking statements to be inaccurate. Such risks and uncertainties include the timing and possible delays, deferrals and cancellations of orders by customers; quarterly revenue fluctuations; industry and sector cyclicality, instability and unpredictability; market demand for consumer devices utilizing semiconductors produced by our clients; our ability to manage costs; new product introductions, market acceptance of new products and enhanced versions of our existing products; reliability and technical acceptance of our products; our lengthy sales cycles, and the timing of system installations and acceptances; lengthy and costly development cycles for laserprocessing and lithography technologies and applications; competition and consolidation in the markets we serve; improvements, including in cost and technical features, of competitors' products; rapid technological change; pricing pressures and product discounts; our ability to collect receivables; customer and product concentration and lack of product revenue diversification; inventory obsolescence; general economic, financial market and political conditions and other factors outside of our control; domestic and international tax policies; cybersecurity threats in the United States and globally that could impact our industry, customers, and technologies; and other factors described in our SEC reports including our Annual Report on Form 10K filed for the year ended December 31, 2015 and our Quarterly Report on Form 10-Q filed for the quarterly period ended April 2, 2016. Due to these and other factors, the statements, historical results and percentage relationships set forth herein are not necessarily indicative of the results of operations for any future period. We undertake no obligation to revise or update any forwardlooking statements to reflect any event or circumstance that may arise after the date of this release.
About Ultratech: Ultratech, Inc. (Nasdaq: UTEK) designs, builds and markets manufacturing systems for the global technology industry. Founded in 1979, Ultratech serves three core markets: frontend semiconductor, backend semiconductor, and nanotechnology. The company is the leading supplier of lithography products for bump packaging of integrated circuits and high brightness LEDs. Ultratech is also the market leader and pioneer of laser spike anneal technology for the production of advanced semiconductor devices. In addition, the company offers solutions leveraging its proprietary coherent gradient sensing (CGS) technology to the semiconductor wafer inspection market and provides atomic layer deposition (ALD) tools to leading research organizations, including academic and industrial institutions. Visit Ultratech online at: www.ultratech.com.
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SOURCE Ultratech, Inc.