Adesis Grows Business and Expands Its Fundamental Chemistry Capabilities in Delaware

December 11, 2017

Partnering with Delaware Innovation Space, Inc.

NEW CASTLE, Del.–(BUSINESS WIRE)–$OLED #CRO—Adesis,
Inc., a wholly-owned subsidiary of Universal
Display Corporation (Nasdaq: OLED), today announced that it will
open a new suite of state-of-the-art laboratories in Delaware and expand
its organic chemistry team and R&D programs. This additional footprint
is expected to help drive growth opportunities in areas including
next-generation OLED (organic light emitting diode) emitter and host
materials and meet the growing demand for the Company’s custom organic
synthesis, research & development, and specialty manufacturing services.
Adesis also announced that it became a sponsor of Delaware
Innovation Space (DISI) and joined its entrepreneurial innovation
community. Working with DISI, Adesis signed an agreement for
approximately 7,000 square feet of laboratory space at the Experimental
Station in Wilmington, Delaware. The new suite of laboratories, which
includes additional ancillary work and meeting space, is expected to
augment Adesis’ on-going operations and recently-purchased 47,500 square
feet headquarter building in New Castle.

“Delaware is home to a number of great chemical and manufacturing
companies like Adesis, who are committed to making a world-class product
with a great local workforce,” said U.S.
Senator Christopher Coons (D-Del.). “I am delighted to see Adesis
and their parent company UDC grow in Delaware as they expand their
market reach and product offerings to more users around the world.”

“We are pleased to announce our expanding footprint and increased
investment to further boost research, innovation and job opportunities
in Delaware,” said Andrew Cottone, President of Adesis, Inc. “As a
leading organic synthesis CRO (contract research organization), we are
adding to and extending our discovery services and process development
capacity for customers across the pharmaceutical, chemical,
biomaterials, and catalysts industries. We are enhancing our
productivity and effectiveness by streamlining the technology transfer
and optimizing the workflow from basic research to specialty
manufacturing. Furthermore, by co-locating in our New Castle
headquarters and the Experimental Station, we believe that we are
building a world-class technology and manufacturing hub to support our
customers from innovation to commercialization.”

“Adesis continues to invest in Delaware, and we are thrilled that the
company will bring its long track record of innovation to the Delaware
Innovation Space,” said Governor
John Carney. “We partnered with DuPont and the University of
Delaware to create the Innovation Space to foster growth of early-stage
scientific-based companies, and encourage collaboration among Delaware’s
most talented innovators. The addition of Adesis will support that
mission, and we’re thankful for the company’s continued partnership.”

This recent expansion by Adesis was rapidly enabled by the seamless
cooperation of the Delaware government and business leaders who have
fostered a robust scientific ecosystem.

“The Delaware Innovation Space is pleased to be able to support the
growing needs of Adesis and accelerate its business forward right here
in Delaware,” said Bill Provine, CEO of the Delaware Innovation Space.
“Adesis will be a great new member of our science-based innovation
community, and we look forward to working with them to further
capitalize on the strengths of our new entrepreneurial ecosystem.”

Adesis has also been assisted by the newly formed Delaware Prosperity
Partnership (DPP). The DPP was recently created by Delaware as a
public/private partnership to accelerate economic development efforts.

“It has been a pleasure working with Andrew Cottone and Adesis to help
facilitate their Delaware expansion, both in New Castle and at the
Delaware Innovation Space,” said John Riley, Interim CEO of the DPP.
“This would have been difficult to accomplish had the State, DuPont, and
the University of Delaware not set the foundation for success with the
formation of the Delaware Innovation Space earlier this year.”

About Adesis, Inc.

As a wholly-owned subsidiary of Universal
Display Corporation, Adesis, Inc. is a contract research
organization (CRO) supporting the pharma, biotech, catalysis and a
number of other industries. The CRO specializes in organic and
organometallic synthesis, in milligrams to multi-kilogram quantities.
Adesis has a business model of providing clients with organic chemistry
services in three areas: early stage research, scale up and development,
and specialty manufacturing. With over 20 years of success and
approximately 60 chemists with extensive industry and professional
experience, Adesis supports companies in various industries with small
molecule organic chemistry expertise. Adesis provides a range of
services that can supplement research and development efforts. It can
also act as a specialty manufacturer to reinforce supply chains. To
learn more about Adesis, please visit http://adesisinc.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. To learn more about Universal Display Corporation, please
visit http://www.oled.com.

About Delaware Innovation Space, Inc.

As home to one of the nation’s first and most successful entrepreneurial
ventures founded by Eleuthére Irenée du Pont in 1802, Delaware’s legacy
of transformational scientific innovation continues with the
establishment of the Delaware Innovation Space, Inc. in 2017. The
organization is a vital resource in the scientific startup ecosystem and
is a non-profit, public-private partnership that offers
multi-dimensional, resource-rich support for scientific entrepreneurs at
the Experimental Station campus in Wilmington, Delaware. Delaware
Innovation Space offers a centric location and proximity to
world-renowned research institutions, global multi-national corporations
and a thriving scientific innovation community. More information is
available at https://deinnovates.org.

About Delaware Prosperity Partnership

The Delaware Prosperity Partnership (DPP) was formed in 2017 as a
private entity to lead the state of Delaware's economic development
efforts. Establishment of this private entity was a critical step to
enhance the state's ability to attract, grow and retain companies; to
build a stronger entrepreneurial and innovation ecosystem; and to
support private employers in identifying, recruiting and developing
talent.

This initiative brings together the resources, commitment, and energy of
both public and private sectors and is charged with certain tasks
related to economic development. As Delaware faces a more competitive
environment and intense global competition for businesses, the DPP will
provide the strategic direction for the state’s economic development
activity by tapping private sector expertise and resources to work in
conjunction with the state.

All statements in this document that are not historical, such as
those relating to the Company’s technologies and potential applications
of those technologies, the Company’s expected results and future
declaration of dividends, as well as the growth of the OLED and CRO
market and the Company’s opportunities in that market, are
forward-looking financial 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 the Company’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, 2016.
Universal Display Corporation disclaims any obligation to update any
forward-looking statement contained in this document.