European Patent Office Issues Decision Regarding Universal Display’s Organometallic Iridium Patent

  European Patent Office Issues Decision Regarding Universal Display’s
  Organometallic Iridium Patent

Business Wire

EWING, N.J. -- November 22, 2013

Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient
displays and lighting with its UniversalPHOLED^® technology and materials,
today announced that the European Patent Office (EPO) issued a decision on the
previously-disclosed appeal of a prior ruling relating to the Company’s
European Patent No. 1449238 (the EP '238 patent). The EPO panel revoked the
patent previously allowed by the lower EPO, which had upheld the broadest
claim of coverage for organometallic iridium device architectures. The
opposing parties included Sumitomo Chemical Company, Merck Patent GmbH and
BASF SE.

“While we believe the EPO’s decision is erroneous, as we have noted in the
past, any one decision in any one jurisdiction is not expected to have a
material effect on our commercial business or agreements,” said Steven V.
Abramson, President and Chief Executive Officer of Universal Display
Corporation.

Universal Display may seek to file a petition to review the matter, which if
successful, may re-open the matter for review by the appellate panel.
Additionally, the Company has a pending divisional EP patent application in
which it intends to pursue substantial patent coverage that is similar to that
provided in related patents that have previously been issued in the other
jurisdictions.

The EP ‘238 patent is one of more than sixty patents issued worldwide that
cover four early fundamental phosphorescent OLED inventions developed at
Princeton University and the University of Southern California, which are
exclusively licensed to Universal Display Corporation. Universal Display’s
basic phosphorescent patents encompass organic light emitting devices that
produce electroluminescence using an emissive layer comprised of a
phosphorescent material.

UDC is committed to increasing the value of and defending its intellectual
property portfolio by building upon and around its core fundamental
phosphorescent patent families. The Company has a growing portfolio of over
3,000 issued and pending OLED device, architecture and material patents
worldwide. This extensive IP framework is designed not only to fortify
Universal Display’s licensing and materials business model beyond 2020, but to
help ensure that the trajectory of the Company’s future will not be defined by
any one patent or decision, favorable or unfavorable.

Universal Display Corporation notes that oppositions against issued and
pending patents are common and decisions by patent tribunals are subject to
further review and consideration. In addition, because of the application of
different rules and regulations in different countries, and the fact that each
patent in each jurisdiction represents a unique and distinct set of rights, a
specific outcome in one jurisdiction may not be indicative of the likely
outcome of similar challenges in other jurisdictions or the likelihood of such
proceedings in other countries.

To see how Universal Display is changing the face of the display and lighting
industries with its UniversalPHOLED®, white OLED and flexible OLED
technologies, please visit the company at www.udcoled.com.

About Universal Display Corporation

Universal Display Corporation (Nasdaq: OLED) is a leader in developing and
delivering state-of-the-art, organic light emitting diode (OLED) technologies,
materials and services to the display and lighting industries. Founded in
1994, the company currently owns or has exclusive, co-exclusive or sole
license rights with respect to more than 3,000 issued and pending patents
worldwide. Universal Display licenses its proprietary technologies, including
its breakthrough high-efficiency UniversalPHOLED^® phosphorescent OLED
technology, that can enable the development of low power and eco-friendly
displays and white lighting. The company also develops and offers
high-quality, state-of-the-art UniversalPHOLED materials that are recognized
as key ingredients in the fabrication of OLEDs with peak performance. In
addition, Universal Display delivers innovative and customized solutions to
its clients and partners through technology transfer, collaborative technology
development and on-site training.

Based in Ewing, New Jersey, with international offices in Ireland, South
Korea, Hong Kong, Japan and Taiwan, Universal Display works and partners with
a network of world-class organizations, including Princeton University, the
University of Southern California, the University of Michigan, and PPG
Industries, Inc. The company has also established relationships with companies
such as AU Optronics Corporation, DuPont Displays, Inc., Innolux Corporation,
Konica Minolta Technology Center, Inc., LG Display Co., Ltd., Lumiotec, Inc.,
Moser Baer Technologies Inc., Panasonic Idemitsu OLED Lighting Co., Pioneer
Corporation, Samsung Display Corporation, Seiko Epson Corporation, Sony
Corporation, Showa Denko K.K., and Tohoku Pioneer Corporation. To learn more
about Universal Display, please visit www.udcoled.com.

Universal Display Corporation and the Universal Display logo are trademarks or
registered trademarks of Universal Display Corporation. All other company,
brand or product names may be trademarks or registered trademarks.

All statements in this document that are not historical, such as those
relating to Universal Display Corporation’s technologies and potential
applications of those technologies, as well as the protection to be afforded
to the Company’s patents and its impact on the Company’s business, and the
results of any appeals of adverse outcomes with respect to patent proceedings
regarding the Company’s patents, are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. You are
cautioned not to place undue reliance on any forward-looking statements in
this document, as they reflect Universal Display Corporation’s current views
with respect to future events and are subject to risks and uncertainties that
could cause actual results to differ materially from those contemplated. These
risks and uncertainties are discussed in greater detail in Universal Display
Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the
Securities and Exchange Commission, including, in particular, the section
entitled “Risk Factors” in Universal Display Corporation’s annual report on
Form 10-K for the year ended December 31, 2012. Universal Display Corporation
disclaims any obligation to update any forward-looking statement contained in
this document.

Contact:

Investor Relations:
Universal Display
Darice Liu, 609-671-0980 x558
dliu@udcoled.com
or
Media Contact:
Gregory FCA
Matt McLoughlin, 610-228-2123
matt@gregoryfca.com
 
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