NEWARK, Del., Aug. 4, 2011 /PRNewswire/ -- Lightwave Logic, Inc. (OTC Bulletin Board: LWLG), a technology company focused on the development of a Next Generation Non Linear Optical Polymer Materials Platform for applications in high speed fiber-optic data communications and optical computing, announced today that it has entered into an agreement with FiberLogix International Ltd. of Watford, UK to begin the development and testing of proprietary fiber optic medical diagnostic devices incorporating Lightwave Logic's advanced non-linear optical polymers.
FiberLogix's primary focus is to design all-fiber solutions incorporating their expertise in fiber manufacturing and side polish technologies. Shafiq Parwaz, Director of Technical Applications for FiberLogix, said, "Our Company has pioneered a new technique to process fiber in such a way as to make a waveguide in the sidewall. The basic platform has been successfully demonstrated for the sensing and measurement of Hydrogen but the exploitation of our technology combined with Lightwave Logic's polymers has the potential to innovate and mass produce biomedical sensors and create other applications like sensors for infectious agents. These are extremely large markets addressing many billions of dollars of revenue opportunity. Importantly, this can be accomplished at extremely low cost."
Jim Marcelli, CEO of Lightwave Logic, commented, "We are very pleased to work with FiberLogix. We believe that the combination of their unique manufacturing skills and our polymer expertise will give birth to a host of high value devices and technologies that can address many different end markets. This represents a significant potential revenue opportunity for our company in a completely new market for us and further demonstrates the utility of our advanced organic polymer technology platform."
FiberLogix International Ltd.
FiberLogix International Ltd. was founded in 1997 and is headquartered in Watford, UK. The company designs, manufactures and markets specialty optical fiber and passive devices for sensing. FiberLogix serves aerospace and defense, biomedical, fiber sensors, high power lasers, oil and gas, industrial, and telecoms markets.
"Powered by Lightwave Logic"
Lightwave Logic, Inc. is a development stage company that is producing 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. Please visit the Company's website, www.lightwavelogic.com for more information.
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, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.
SOURCE Lightwave Logic, Inc.