HPCwire: Lightwave Logic Completes Private Placement

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June 26, 2009

Lightwave Logic Completes Private Placement

Supports key initiatives toward commercialization of "Next generation Electro-Optic Material Platform"

NEWARK, Del., June 25 -- Lightwave Logic, Inc., a technology company focused on the development of electro-optic polymer materials for applications in high speed fiber-optic telecommunications and optical computing, announced today that it has completed its most recent capital raise. Gross proceeds from the private common stock offering totaled $855,000. No commissions or fees were paid in connection with the offering.

"We were pleased to complete this offering, which enables us to move forward with a number of initiatives over the coming quarters," said Jim Marcelli, chief executive officer of Lightwave Logic. "We remain on target to complete the prototype phase modulator -- our next generation Electro-Optic Material Platform -- in the third quarter of this year. At the same time, scientists at major universities continue critical independent performance testing and material characterization of the platform. Finally, we expect to build functional prototypes of 40 Gb/s and 100 Gb/s modulators during the first half of 2010.

"These initiatives and timetables reflect a focused strategy to commercialize our platform with the requisite optical and thermal stability for the electro-optical materials market, which is expected to exceed $10 billion in 2010," said Mr. Marcelli.

Earlier this month, the company announced that it had begun building the initial prototype of a phase modulator for its "Next-Generation Electro-Optic Material Platform." The platform will support new applications over the next several years for the military, aerospace, fiber optic telecommunications and optical computing market segments. Some of the exciting applications include high speed, long reach communication modulators, image recognition, speech recognition and supercomputers.

About Lightwave Logic, Inc.

Lightwave Logic, Inc. (OTC Bulletin Board: LWLG) is a development stage company, moving toward prototype demonstration and 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. Visit the company's Web site, www.lightwavelogic.com, for more information.

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Source: Lightwave Logic, Inc.

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