Ann: Panorama Expands its Revolutionary MEMS Sensor Portfolio, page-2

PANORAMA EXPANDS ITS REVOLUTIONARY MEMS SENSOR PRODUCT PORTFOLIO
Global Licensing Agreement Signed with UWA for Patented Spectroscopy Technology

Highlights
 Panorama Synergy (PSY) has entered into an exclusive global licensing agreement with the University of Western Australian (UWA) for its patented, market leading and revolutionary MEMS-based optical spectrometer technology.  This agreement is aligned to PSY’s strategy to continue to expand its range of sensor technologies and products and opens up significant opportunity across a rapidly growing market – the Internet of Things (IoT).  This agreement is yet another validation of the strength of the Company’s partnership with UWA’s world leading Microelectronics Research Group (MRG) and of PSY’s technical and commercial expertise.  Optical, including Near-Infrared (NIR) spectroscopy is an established technology which measures changes in the colour (wavelength) content of light after interacting with samples. This technology is widely used in agricultural, military, pharmaceuticals, and a variety of other markets.
Panorama Synergy Limited (ASXPSY) (“Panorama”; “Company”) is pleased to announce that it has entered into an exclusive global licensing agreement with The University of Western Australia (UWA) for its patented and market leading MEMS-based optical spectroscopy sensor technology. This agreement is aligned with PSY’s strategy to build a portfolio of proprietary technology through expanding and extending into related technology specialisations.
The UWA MEMS microspectrometer technology represents a very large investment of time and effort by the UWA Microelectronics Research Group over the last decade. The technology is the result of over $10M R&D funding from various organizations including the Australian Research Council, the Grains Research and Development Corporation, and various US and Australian defence agencies. This technology was in part made possible by access to world-class fabrication facilities and expertise at the WA node of the Australian National Fabrication Facility (ANFF).
PSY will pay $330,000 for the exclusive global licensing rights for MEMS-based optical spectrometer, half of which is payable within 30 days of the date of the agreement and the balance in 12 months. Additionally, PSY will pay royalties to UWA under the contract on sales and sub-licencing fees. The Royalty rates are to be agreed with UWA. PSY is also responsible for maintaining and protecting the patents during the term of the license agreement.
PSY will have an exclusive license for the life of the patents, with the right to extend, and first rights over the one application not currently covered by the contract at the end of current obligations in that space. A call option is granted to PSY to acquire the patents for no further consideration.
This agreement is yet another validation of the strength of the Company’s partnership with UWA’s world leading research group, MRG. MRG has more than a decade of research excellence in MEMS and other sensor technologies, including Spectroscopy. PSY continues to work closely with MRG in bringing sensor technologies to market.

Professor Lorenzo Faraone, Head of MRG at UWA, commented:
“We rarely consider ownership transfer to commercial partners, however, PSY have demonstrated a commitment to MEMS technology and have a clear strategy to commercialise the spectroscopy technology. PSY are an excellent collaborative partner and this is evident from the progress towards commercial outcomes for the LumiMEMS Reader.”


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