Zecotek Provides Corporate Update on Commercialization Strategy
Singapore, January 30, 2012 – Zecotek Photonics Inc. (TSX-V: ZMS; Frankfurt: W1I), a developer of leading-edge photonics technologies for medical, industrial and scientific markets, is pleased to provide shareholders with a corporate update on its path to commercialize and monetize its leading-edge photonics technologies. The Company was founded with the vision to develop and commercialize photonic technologies that offer both superior performance and economic advantages over competing technologies. Recent developments by Zecotek have brought the Company closer to realizing this vision in its three distinct industry segments: medical imaging, 3D displays and laser systems.
One of the most important developments in the past 12 months was the test results of the newest version of LFS scintillation crystals LFS-8. Tests conducted by the University of Washington and by researchers affiliated to the European Organization for Nuclear Research (CERN) show the LFS-8 crystals to be the fastest and brightest scintillation crystals based on lutetium oxide material. Due to its speed and brightness, the LFS-8 is a potential crystal for positron emission tomography (PET) scanners, especially the new Time-Of-Flight designs being adopted by many international OEM’s. Furthermore LFS-8 crystals are characterized by high radiation hardness so they can be used for high energy physics experiments such as the Electromagnetic Calorimeter at High Luminosity Large Hadron Collider, one of the main projects at CERN.
Because LFS customers are seeking trustworthy and reliable suppliers of fast and bright scintillation crystals, Zecotek established a strategic partnership with the Beijing Opto-Electronics Technology Co. Ltd. (BOET). BOET has access to the raw materials required for the LFS crystals and specializes in the growing, cutting, polishing and the large scale production of scintillation crystals. The partnership between Zecotek and BOET should provide customers with a consistent supply of quality scintillation material at a competitive price.
Zecotek’s patented LFS scintillation crystals and solid-state MAPD photo detectors are two of three central components for the new generation of PET scanners for medical diagnostics. Zecotek’s many years of cooperation with the University Of Washington has also led to a patented design of the electronics for PET scanners as the third key components of the PET device. This consists of a data acquisition board and readout system. Zecotek is integrating the three proprietary elements: LFS, MAPD and data acquisition board and readout system, into a new PET scanning device for markets in China and other emerging economies. Management is currently in discussions with an integrator group to manufacture the new PET device and with a large government organization to finance the development, manufacture and commercialization of the PET device. Zecotek will also use its partnership with BOET (China) and the Malaysian Institute for Micro-electronics Systems (Malaysia) to meet the building demand for the LFS crystals and MAPD detectors respectively in other markets.
Zecotek is meeting with industry partners from Japan and Korea for the integration of a cost competitive, high resolution, auto-stereoscopic flat screen 3D display, based on LCD and OLED panels. Management believes there are no competing technologies that provide a glasses-free 3D display on a flat screen panel at an affordable cost. The patented 3D display system for the visualization of images and data has been developed in-house by Zecotek’s scientific team and technical staff and does not rely on any licensed intellectual property.
Within its laser division Zecotek has a joint laboratory with Inversion Fiber/Novolaser (Russia) for the integration of tuneable fiber lasers in the visible spectrum. The tuneable visible fiber laser technology platform is now complete and there is an opportunity to leverage this platform to develop an infra-red fiber laser for the laser marking industry. Zecotek is discussing financial and developmental assistance for this project with a large governmental institute.
As a result of internal technology development, patent acquisitions and licensing partnerships, the Company’s patent portfolio has continued to grow in numbers and technological diversity. Zecotek owns title to or controls more than 55 patents and applications with two significant additions in calendar 2011. In July 2011 the U.S. Patent and Trademark Office granted Zecotek patent number 7,956,331 B2 for a Depth of Interaction technology, developed to provide improvements in the precision and hence the performance of PET scanning and other medical detection systems. In May 2011 the U.S. Patent and Trademark Office granted Zecotek patent number 7,944,465 for its glasses-free 3D auto-stereoscopic display system.
Zecotek has built an expansive and valuable patent portfolio covering the form and function of its applied technology. Considerable time and resources have been spent in developing this patent portfolio and the Company pursues a vigorous program of patent protection of its core technology assets with frequent patent reviews.
Moving forward the Company will continue to commercialize its products and technologies through strategic alliances with major corporations. Zecotek’s key technologies are market ready and are being use by respected scientific organizations and OEMs. The Company has entered growth markets with products featuring competitive cost and performance superiority and the management team is confident that the Company’s photonics technologies will continue to gain market acceptance.
Zecotek believes that its investment in research and development, human capital, strategic alliances and joint ventures will propel its business forward, ensure leadership status in its technological disciplines and build long term shareholder value.
Zecotek also announces the granting of 1,135,000 stock options to directors, employees and consultants for their contributions to the Company. The exercise price is set at $0.57 and will expire in five years. The stock options are subject to regulatory approval.
Zecotek Photonics Inc (TSX-V: ZMS; Frankfurt: W1I) is a photonics technology company developing high-performance crystals, photo detectors, medical lasers, optical imaging and 3D display technologies for commercial applications in the medical diagnostics and high-tech industry. Founded in 2003, the company has three distinct operating divisions: medical imaging, medical lasers and 3D display and labs located in Canada, Singapore and Russia. Zecotek commercializes its novel, patented and patent-pending bio-photonic technologies directly and through strategic alliances and joint ventures with multinational OEMs, distributors and other industry leaders. For more information, please visit Zecotek Photonics.
This press release may contain forward-looking statements that are based on management’s expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what may have been stated.
For Additional Information Please Contact:
Zecotek Photonics Inc.
T: (604) 783-8291
CHF Investor Relations
Julia Clark, Account Manager
T: (416) 868-1079 x236
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