Lightwave Logic Acquires Polymer Technology and Intellectual Property Assets of Chromosol Ltd (UK)

Rhea-AI Summary

Lightwave Logic (NASDAQ: LWLG) has acquired the polymer technology and intellectual property of Chromosol Ltd (UK), enhancing its design capabilities with foundry process development kits (PDKs) utilizing low temperature atomic layer deposition (ALD). This acquisition strengthens LWLG's patent portfolio, particularly with a novel polymer chemistry patent that could boost the performance of integrated modulators. The technology supports the company’s entry into the 800Gbps integrated photonics market, improving production efficiency and compatibility with existing foundry equipment.

Positive

• Acquisition of Chromosol's polymer technology enhances design capabilities for PDKs.
• Strengthens patent portfolio with an innovative polymer chemistry device patent.
• Low temperature ALD processes enable cost-effective chip-scale packaging.
• Supports entry into the 800Gbps integrated photonics marketplace.

Negative

• None.

Assets Include a Critical Manufacturing Process for Foundry Process Development Kits (PDKs)

ENGLEWOOD, Colo., Nov. 29, 2022 /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 that it has acquired the polymer technology and intellectual property assets of Chromosol Ltd (UK).

This acquisition significantly strengthens the company's design capabilities with foundry PDKs with extremely low temperature atomic layer deposition (ALD) processes that effectively hermetically seal polymer devices that have been prepared for high volume manufacturing. The advanced fabrication processes of ALD with temperatures below 100C will solidify the company's market position with both the company's manufacturing foundry partners as well as end-users as it prepares to enter the 800Gbps integrated photonics marketplace.

The acquisition also advances Lightwave Logic's patent portfolio of electro-optic polymer technology with an innovative polymer chemistry device patent¹ that has potential to increase the performance of integrated modulators through optical amplification in a photonic integrated circuit (PIC) and enhance the functionality of the PIC by integrating laser light sources made using the polymer-based gain and a laser optical cavity defined on the Silicon photonic platform, with Lightwave Logic's high speed, high efficiency modulators. 

Dr. Michael Lebby, Chief Executive Officer of Lightwave Logic, said: "Chromosol's' polymer technology and intellectual property patent dovetails well with Lightwave Logic's development of a polymer platform that not only enables 'green photonics' – but is foundry compatible with manufacturing PDKs.  Having access to extremely low temperature ALD allows the company's polymer modulators to be protected from the environment without the need of expensive and large footprint gold box packaging, propelling the company forward with chip-scale packaging as required by major hyper-scaler end-users. The patent opens a new class of PICs which expands our variety of devices.

 "What is more interesting is that every foundry we have visited has ALD systems and equipment in place for semiconductor processing.  This acquisition for low temperature ALD processes provides a key piece of the PDK that we need when working with foundries for our polymers, and allows us to achieve our goals more effectively," concluded Lebby.

¹ Patent entitled, "Optoelectronic devices, methods of fabrication thereof and materials therefor" with US patent number 9837794, EU patent number 3017489, China registration number 201480048236 & 201910230856

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 Form 10-Q; other risks to which our company is subject; other factors beyond the company's control.

Lightwave Logic 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.

FAQ

What technology did Lightwave Logic acquire from Chromosol Ltd?

Lightwave Logic acquired polymer technology and intellectual property from Chromosol Ltd to enhance its foundry process development kits.

How does the acquisition impact Lightwave Logic's market position?

The acquisition positions Lightwave Logic strongly in the 800Gbps integrated photonics marketplace and improves production efficiency.

What are the potential benefits of the new polymer chemistry patent for Lightwave Logic?

The new patent may increase the performance of integrated modulators and enhance photonic integrated circuits.

What is the significance of low temperature ALD processes for Lightwave Logic?

Low temperature ALD processes allow for effective hermetic sealing of polymer devices, reducing manufacturing costs and improving durability.