Lightwave Logic Provides Fourth Quarter and Fiscal Year 2020 Corporate Update
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Company Continues Advancement of Prototypes Towards End-Goal of Mass Commercialization
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ENGLEWOOD, Colo., April 1, 2021 /PRNewswire/ -- Lightwave Logic, Inc. (OTCQX: LWLG), a technology platform company leveraging its proprietary electro-optic polymers to transmit data at higher speeds with less power, today provided a corporate update in conjunction with the filing of its Annual Report on Form 10-K for the quarter and year ended December 31, 2020.
Recent Company Highlights:
- Announced optimization of the Company's advanced, photo-stable, ultra-high-speed polymer for high-intensity light applications to be trialed with potential customers under NDA for use in telecommunications and data center end-markets.
- Further developed pre-commercial interactions and relationships with vendors, foundries, and potential customers that align with technology product roadmaps. In particular, these interactions and relationships focus on bringing our Polymer Plus™ product platform to market.
- More tightly aligned our Polymer Plus™ product platform to telecommunications, data-communications/datacenters, and high-speed computing global and regional markets for commercialization. These markets continue to grow strongly into multi-billion-dollar opportunities that demand high speed, low power consumption, and miniaturization through photonics integration.
- Fortified intellectual property portfolio through receipt of 9 patent grants over the last 24 months, and 15 published patent applications over the same period. This intellectual property is wide-ranging for polymers and protects key recent technology advancements including:
- Technology developed by the Company's in-house technical team which allows for the Company's modulators to improve performance across the board, enabling higher reliability in the fiber optics communications environment.
- A new polymer modulator packaging invention, enabling low-cost and high-volume applications in datacenter and telecommunications markets.
- Breakthrough in path towards future Chip-on-Board packaged polymer platform with new technique to prevent atmospheric gasses from penetrating optical polymer materials, expected to significantly improve stability and reliability.
- Continued to build critical pre-commercial awareness at key virtual investor and technology industry events, including the PHOTONICS+ Virtual Exhibition and Conference, AngelTech Live II Summit, the ECOC Exhibition 2020, the EPIC Online Technology Meeting on Datacenter Interconnects and the 33rd Annual ROTH Growth Conference.
- Common shares were approved for trading on the OTCQX® Best Market (OTCQX) to help improve liquidity and broaden the Company's base of potential investors.
- CEO Dr. Michael Lebby elected as a Fellow of the National Academy of Inventors (NAI), an organization which supports and recognizes academic innovation for his role as a creative and prolific inventor and industry thought leader.
The full text of the Company's Annual Report on Form 10-K for the year ended December 31, 2020 was filed with the SEC on March 31, 2021 and can be found here.
"Our final quarter of 2020 was marked by our ongoing achievements, both in terms of expanding our already robust IP portfolio as well as in driving forward our proprietary technologies, in particular our Polymer Plus™ product platform, towards commercialization," said Dr. Michael Lebby, Chief Executive Officer of Lightwave Logic. "With over 70 domestic and international patents and patent applications, we are in the strongest position in our history to allow Lightwave significant freedom of manufacturing in a competitive field.
"These patent wins are the direct result of the ongoing research and development of our proprietary electro-optic polymers and devices by our in-house chemistry team, and we announced several exciting breakthroughs in the last several months. The results from our new sealant for a Chip-on-Board packaged polymer platform opens the door for a host of new opportunities and applications. It is a key step in the development towards a polymer modulator without a package, an important enabling technology for the industry. Preliminary results from our electro-optic polymer material, designed based on potential customer input, displays unrivaled light tolerance, also known as photostability, as compared to any organic commercial solution in use today. We plan to further develop the sealant for commercial implementation in future generations of modulators.
"2020 saw us steadfastly moving toward commercialization of our Polymer Plus™ product platform with potential customers impressed as they evaluate our technology under NDA and recognize the ongoing technological improvements we have been able to achieve. Looking ahead into 2021, we expect to see additional progress as we incorporate feedback from potential partners and customers. We will continue to focus on the advancement of our prototypes, further shortening the path to our end-goal of mass market commercialization," concluded Lebby.
About Lightwave Logic, Inc.
Lightwave Logic, Inc. (OTCQX: 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 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.
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SOURCE Lightwave Logic, Inc.
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