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Home > Press > The Idea Zoo, Inc., and the University of California, Riverside sign exclusive license agreement: Patents focus on magnetically tunable photonic crystals that can be used to develop color-changing products
The Idea Zoo, Inc., a leading developer and licensor of advanced materials and technologies, announced today that it has signed an exclusive license with the University of California Riverside (UCR) securing 7 patents that cover various aspects of advanced superparamagnetic colloidal nanocrystals (CNCs).
The exclusive license with UCR creates a unique advanced materials bridge between industry and academia, with UCR scientists continuing their research that adds to the innovation and development of magnetically controlled photonic crystals.
Under the terms of the agreement, The Idea Zoo is granted the exclusive rights to 7 patent applications that focus on magnetically tunable photonic crystals and the ability to place them into commercial environments.
"These patent applications are foundational to magnetically tunable photonic crystals and represent an industry first to produce and commercialize on-demand color-change," stated Ed Routhier, CEO of The Idea Zoo. "We believe the value of this technology to magnetically control CNCs, coupled with our existing intellectual property, creates a commercially unique and proprietary opportunity".
The Idea Zoo will undertake the development and commercialization of CNCs spanning several industries ranging from high-security applications to commercial applications for on-demand color-changing products. The agreement spans the life of the patents. UCR will receive royalties from products developed from these licensed technologies and will receive equity in The Idea Zoo, Inc. The licenses give The Idea Zoo exclusive commercialization rights to the valid claims related to magnetically controlled colloidal nanocrystals. Additional terms of the agreement were not disclosed.
"UCR's Office of Technology Commercialization is excited to have The Idea Zoo as the exclusive licensee of the CNC technology. We look forward to working with the company's experienced management team as they further develop this technology to meet the needs of industry," stated Senior Licensing Officer Michael Arciero at UCR's Office of Technology Commercialization.
About The Idea Zoo, Inc.
The Idea Zoo, Inc. is a leading technology and licensing company that develops and creates innovative technologies that enhance products worldwide. Headquartered in Santa Clara, Calif., The Idea Zoo provides value in all phases of product development, from initial concept, through manufacturing and commercialization. COLR™ Technology is a developed and licensed brand under The Idea Zoo, Inc.
About the Office of Technology Commercialization at UCR
The University of California, Riverside (www.ucr.edu) is a doctoral research university, a living laboratory for groundbreaking exploration of issues critical to Inland Southern California, the state and communities around the world. UCR’s Office of Technology Commercialization (or.ucr.edu/OTC.aspx) facilitates the development, protection and commercialization of UCR's campus research and intellectual property. OTC assists in the disclosure, development, and legal protection of campus researchers' inventions and encourages further technical innovations. OTC provides information and counseling for UCR faculty and staff on all aspects of intellectual property arising from their research activities, consulting relationships and industrial collaborators.
About COLR™ Technology
Structural color has many characteristics that differ from those of chemical pigments or dyes. The unique colors originating from the physical structures are iridescent and metallic, and cannot be mimicked by chemical dyes or pigments. COLR™ Technology is the first proprietary and patent pending photonic crystal system to create tunable structural color that can achieve unlimited colors and designs on demand.
Forward looking statement
This press release contains forward-looking statements based on current plans, estimates and beliefs of management. Such statements are subject to risks and uncertainties that may cause actual results to be materially different from those that may be implied by such forward-looking statements contained in this press release. Important factors that could result in such differences include: changes in general economic, business and competitive conditions, effects of future judicial decisions, changes in regulation, exchange rate fluctuations and hiring and retention of employees.
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The Idea Zoo, Inc.
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