Company Overview - Smartkem is focused on revolutionizing the electronics industry with its proprietary organic thin film transistor (OTFT) technology, which aims to deliver low-cost, high-performance, flexible displays [5][6] - The company utilizes its TRUFLEX® semiconductor technology, which allows for low-temperature printing processes compatible with existing manufacturing infrastructure [5] - Smartkem has a strong intellectual property portfolio, including 138 granted patents across 17 families, 16 pending patents, and 40 codified trade secrets [6] Industry Context - SEMICON Korea 2025 is a significant event for the semiconductor industry, showcasing advancements in materials, equipment, and technologies [1][3] - The conference will focus on key trends such as AI, advanced packaging, and sustainable semiconductor manufacturing technologies, which are essential for driving innovation in chip design and manufacturing processes [3] Event Participation - Smartkem will participate in SEMICON Korea 2025 from February 19 to 21, 2025, at the COEX convention center in Seoul, South Korea [1] - CEO Ian Jenks will showcase Smartkem's OTFT technology and will be available for one-on-one meetings with industry representatives, media, analysts, and investors [2]

Core Insights - Smartkem has completed its first sale of TRUFLEX® semiconductor materials to Shanghai Chip Foundation, marking a significant milestone in their partnership aimed at developing microLED-based backlight technology for LCDs [1][2][3] Company Overview - Smartkem is focused on revolutionizing the electronics industry with its organic thin-film transistors (OTFTs) and proprietary TRUFLEX® materials, which are designed for various display technologies, including next-generation microLED displays [3][4] - The company has a strong intellectual property portfolio with 138 granted patents across 18 families and 40 trade secrets [4] Partnership Details - The collaboration with Chip Foundation involves integrating Smartkem's organic dielectric single layer material (RDL) with Chip Foundation's microLED devices, aiming to enhance brightness and current efficiency while reducing power losses [2][3] - Additional sales of RDL materials to Chip Foundation are anticipated to continue throughout 2025, indicating a long-term partnership [2] Chip Foundation Overview - Chip Foundation specializes in semiconductor technology, particularly in developing advanced substrates for Gallium Nitride (GaN) growth, which are crucial for microLED applications [5][6] - The company has innovated a new type of composite patterned sapphire substrate (DPSS) that significantly reduces dislocation density, enhancing the performance of microLED chips [5][8] Technological Advancements - Chip Foundation's chemical lift-off technology for GaN substrates offers cost-effective and high-yield production methods compared to traditional laser lift-off processes, improving chip performance [5][6] - The company is also advancing wafer-level packaging technology based on thin-film chips, which maximizes the performance of these chips in backlight applications [7]

Company Overview - Smartkem is focused on revolutionizing the electronics industry with its disruptive organic thin-film transistors (OTFTs) and patented TRUFLEX® liquid semiconductor polymers, which enable low-temperature printing processes for cost-effective displays [6] - The company operates a research and development facility in Manchester, UK, and provides prototyping services at the Centre for Process Innovation (CPI) in Sedgefield, UK, with a field application office in Taiwan [8] - Smartkem holds an extensive IP portfolio, including 138 granted patents across 18 patent families and 40 codified trade secrets [8] 2024 Achievements - Smartkem raised $7.65 million in December 2024 and secured a $1.1 million grant for a project to develop the world's first rollable, transparent microLED display [2] - The company uplisted to Nasdaq, enhancing trading liquidity and investor access [2] - Smartkem entered multiple strategic partnerships with industry leaders, including AUO, FlexiIC, ITRI, Chip Foundation, Shanghai Tianma Microelectronics, and RiTdisplay, to advance its technology and product development [7] - The company increased its IP portfolio to 138 patents and 40 codified trade secrets, strengthening its competitive position in the organic materials electronics industry [7] - Smartkem exhibited and presented at key trade events, including Touch Taiwan 2024 and Display Week 2024, where CEO Ian Jenks delivered the DSCC / SID Business Conference keynote speech [7] 2025 Goals - Smartkem aims to achieve qualifications and design wins with existing and new collaborations, focusing on driving the adoption of advanced display technologies [2] - The company plans to complete the qualification of the Gen 2.5 ITRI process line and enter additional collaborations or co-development agreements to advance technology commercialization [7] - Smartkem is targeting the growing microLED industry, which is projected to expand from $150 million in 2024 to over $4 billion by 2031 [2] Industry Outlook - The microLED industry is expected to grow significantly, from $150 million in 2024 to over $4 billion by 2031, driven by advancements in display technologies [2] - Smartkem's technology is positioned to play a key role in the adoption of advanced display solutions, including microLED displays, packaging for AI chips, and CMOS for smart sensors [2]

MANCHESTER, England, Dec. 23, 2024 /PRNewswire/ -- Smartkem (Nasdaq: SMTK), which is seeking to change the world of electronics using its disruptive organic thin-film transistors (OTFTs), announced it has completed its previously announced concurrent public and private offerings of its securities, including shares of its common stock and common stock equivalents, for an aggregate total gross proceeds of $7.65 million.Smartkem issued 1,449,997 registered shares of common stock and unregistered Class D warran ...

Project in partnership with AUO starts on January 1, 2025 MANCHESTER, England, Dec. 18, 2024 /PRNewswire/ -- Smartkem (Nasdaq: SMTK), which is seeking to change the world of electronics using its disruptive organic thin-film transistors (OTFTs), has received and accepted a £900,000 (USD 1.1 million) grant from Innovate UK for its previously announced project partnership with AUO to develop a rollable, transparent microLED display. Part of the 2024 UK-Taiwan Collaborative R&D Initiative, the 2-year project w ...

MANCHESTER, England, Dec. 18, 2024 /PRNewswire/ -- Smartkem (Nasdaq: SMTK), which is seeking to change the world of electronics using its disruptive organic thin-film transistors (OTFTs), announced that it has priced concurrent public and private offerings of its securities, including shares of its common stock and common stock equivalents, for an aggregate offering price of $7.65 million to new and existing investors.1,449,997 registered shares of common stock and unregistered Class D warrants to purchase ...

New project builds on ongoing collaboration to develop custom circuits using Smartkem's organic transistor technologyMANCHESTER, England, Dec. 5, 2024 /PRNewswire/ -- Smartkem (NASDAQ: SMTK), which is seeking to change the world of electronics using its disruptive organic thin-film transistors (OTFTs), has signed a multi-year agreement with FlexiIC, a company providing innovation in the design of flexible integrated circuits and systems, to begin a new project to develop a new generation of CMOS for smart s ...

Exhibit 99.1 PRESS RELEASE Smartkem Reports Third Quarter 2024 Financial Results Manchester, England – Tuesday, November 12, 2024 – Smartkem (Nasdaq: SMTK), positioned to power the next generation of displays using its disruptive organic thin-film transistors (OTFTs), today provides a business update and reports financial results for the three and nine months ended September 30, 2024. Smartkem Chairman and CEO, Ian Jenks, commented: "During the third quarter of 2024, we continued to gain traction in our dri ...

Core Insights - Smartkem is advancing its proprietary organic thin-film transistors (OTFTs) aimed at revolutionizing display technologies, particularly microLED displays, which are projected to grow from $150 million in 2024 to over $4 billion by 2031 [3][6] Business Developments - In Q3 2024, Smartkem entered a joint development agreement with Chip Foundation to create microLED-based backlight technology for LCDs, enhancing collaborations with major display manufacturers [2][5] - The company showcased its innovations at various international forums, emphasizing the advantages of microLED displays, including durability and brightness [5] Financial Performance - As of September 30, 2024, Smartkem reported cash and cash equivalents of $1.8 million, a decrease from $8.8 million at the end of 2023 [6][10] - Operating expenses for Q3 2024 were $3.0 million, up from $2.7 million in the same period of 2023, while revenues were nil compared to $3,000 in Q3 2023 [6][12] - The net loss for Q3 2024 was $2.8 million, slightly improved from a loss of $3.0 million in Q3 2023 [12][13] Future Outlook - The company aims to secure qualifications and design wins in 2025 to boost the adoption of advanced display technologies [4]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-42115 SmartKem, Inc. (Exact name of registrant as specified in its charter) | --- | |-------| | | | | | | ...