Initially Targeted for Embedded Non-volatile Memory Applications

FREMONT, Calif. – January 25, 2017 — Spin Transfer Technologies, Inc. (STT), a leading developer of breakthrough Orthogonal Spin Transfer Magneto-Resistive Random Access Memory technology (OST-MRAM™), today announced it has delivered samples of fully functional ST-MRAM devices to multiple customers in North America and Asia. The sample devices utilize 80nm perpendicular magnetic tunnel junctions (MTJs), the latest generation of MRAM technology. The company is delivering these devices on evaluation boards, so customers can easily apply patterns to the devices to assess their functionality and determine their suitability for embedding in their own products for non-volatile memory applications.

Barry Hoberman, CEO of STT, commented, “We are on track and executing to STT’s product roll-out timeline.  Our priority is shipping fully functional, reliable perpendicular ST-MRAM devices, and we have achieved that with these samples. We believe the samples will demonstrate to our customers the advantages provided by our ST- MRAMS in terms of low-write energy, byte addressability and easy process integration, providing an excellent alternative to embedded flash for many applications.”

Following shipping of samples, STT first aims to partner with customers to co-develop devices to be embedded in their products. In parallel STT will continue work to refine and optimize its stand-alone devices, including by enhancing bit densities and performance characteristics.

STT’s patented OST-MRAM has the potential to replace major segments of the market for flash, SRAM and DRAM semiconductors in applications such as mobile products, automotive, Internet of Things (IoT) and data storage. STT is simultaneously focused on developing state-of-the-art magnetics technologies along with unique CMOS circuits that work with existing CMOS processes. Compared with conventional spin transfer MRAM approaches, the STT OST-MRAM devices offer advantages in speed, power efficiency, cost, reliability and scalability. STT’s ability to combine the state-of-the-art magnetics with proven CMOS demonstrates the capability of the technology to operate in memory arrays with existing process standards and move quickly into high-volume production.

About Spin Transfer Technologies

Spin Transfer Technologies, Inc. was established by Allied Minds and New York University to develop and commercialize its Orthogonal Spin Transfer Magneto-Resistive Random Access Memory technology, OST-MRAM™. The technology, invented by Professor Andrew Kent, is a disruptive innovation in the field of spin-transfer-based MRAM devices, enabling faster switching times, lower power operation, lower manufactured device cost, and scalability to smaller lithographic dimensions. For more information, visit www.spintransfer.com.

About Allied Minds

Allied Minds is a diversified holding company focused on venture creation within the life science and technology sectors. With unparalleled access to hundreds of university and federal labs across the U.S., Allied Minds forms, funds, and operates a portfolio of companies to generate long-term value for its investors and stakeholders. Based in Boston, with nationwide presence in Los Angeles and New York, Allied Minds supports its businesses with capital, central management, and shared services. For more information, please visit www.alliedminds.com.

Allied Minds Forward-looking Statement

This press release contains statements that are or may be forward-looking statements, including statements that relate to the company’s future prospects, developments and strategies. The forward-looking statements are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from current expectations, including, but not limited to, those risk and uncertainties described in the risk factors included in the company’s regulatory filings. These forward-looking statements are based on assumptions regarding the present and future business strategies of the company and the environment in which it will operate in the future. Each forward-looking statement speaks only as at the date of this press release. Except as required by law, regulatory requirement, the Listing Rules and the Disclosure and Transparency Rules, neither the company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

 

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