Vitex Systems Signs Licensing Agreement With Advanced Neotech Systems

San Jose, CA - Vitex Systems, Inc., a technology developer, licensor and development service provider for thin-film encapsulation and moisture barrier films, recently announced that it has signed a license agreement with Advanced Neotech Systems (ANS) Corporation of Korea. The agreement includes a technology transfer package from Vitex to ANS, and gives ANS the non-exclusive rights to make and sell Guardian™ thin-film encapsulation systems, which can be used in the manufacturing of organic light emitting diode (OLED) displays. While the financial terms of agreement were not disclosed, the license includes an upfront fee and on-going royalty payments based on tool sales.

"Thin-film encapsulation is the obvious trend for significant cost reduction and reduced thickness of OLED displays on rigid substrates, and is a must for OLED displays on flexible substrate. Vitex is the leading technology supplier in this field, and we are excited about our ongoing relationship with them," said KB Bae, president of ANS. "With the recent investment in our company by SNU Precision Co., Ltd. (www.snuprecision.com) coupled with our license agreement with Vitex, we now have the financial strength and technological capability to address the developing OLED display market. Moreover, the addition of Guardian to our deposition equipment portfolio will allow us to be more competitive in the marketplace."

Commenting on its agreement with ANS and licensing successes, Chyi-Shan Suen, director of sales and marketing for Vitex, said, "ANS has been one of Vitex's equipment partners for the past two years. Signing this license agreement not only validates ANS's confidence in Vitex's Barix(TM) technology and IP portfolio strength, but also reaffirms the growing adoption and need of our thin-film encapsulation technology to enable future OLED displays." He adds, "This announcement follows on the heels of a licensing agreement signed in September with a major optical film manufacturer for our proprietary Flexible Glass technology, which also illustrates the success of our new licensing model."

Vitex's Barix thin film encapsulation is an ultra-high barrier suitable for encapsulating OLED displays and devices that are sensitive to moisture and oxygen, such as organic photovoltaics, organic solid state lighting, thin-film batteries, etc. Considerable efforts are being devoted to develop these electronic devices but have been impeded by the lack of thin-film barrier with adequate protection from moisture and oxygen, until now. Vitex's Guardian system allows display manufacturers to deposit, in-situ, a conformal Barix thin-film barrier that is coated directly onto the device surface. As a result, electronic devices leveraging Barix encapsulation can eliminate the costly and bulky mechanical encapsulation, both lowering manufacturing costs and reducing the weight and thickness by up to 50 percent. When combined with Flexible Glass - a thin, clear, flexible or conformable substrate with barrier properties equivalent to those of a sheet of glass - the weight and thickness saving could be up to 90 percent.

SOURCE: Vitex Systems, Inc.