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."