SINGAPORE, Dec. 23, 2014 /CNW/ - Zecotek Photonics Inc. (TSX-V: ZMS; Frankfurt: W1I), a developer of leading-edge photonics technologies for industrial, healthcare and scientific markets, today announced that its subsidiary, Zecotek Imaging Systems Pte. Ltd., has settled its lawsuit against Philips and Saint Gobain, as parties in a legal proceeding started in February 2012 in connection with an alleged infringement of Zecotek`s patents on LFS scintillation crystals used in positron emission tomography (PET) imaging systems.
"Zecotek and Philips have identified areas of cooperation in the field of medical imaging," said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek Photonics Inc. "We look forward to establishing a meaningful business relationship with Philips."
The Company also announced that Zecotek Imaging Systems PTE. LTD. and Saint-Gobain Ceramics & Plastics, Inc. have reached an agreement to dismiss their pending lawsuit, pursuant to which Zecotek has given Saint-Gobain a covenant not to sue on U.S. Patent No. 7,132,060. The parties will undertake to dismiss with prejudice all asserted claims and counterclaims against one another. The terms of resolution of this lawsuit shall remain confidential.
Zecotek Photonics Inc (TSX-V: ZMS; Frankfurt: W1I) is a photonics technology company developing high-performance scintillation crystals, photo detectors, positron emission tomography scanning technologies, 3D auto-stereoscopic displays, and lasers for applications in medical, high-tech and industrial sectors. Founded in 2004, Zecotek operates three divisions: Imaging Systems, Laser Systems and 3D Display Systems with labs located in Canada, Korea, Russia, Singapore and U.S.A. The management team is focused on building shareholder value by commercializing over 50 patented and patent pending novel photonic technologies directly and through strategic alliances and joint ventures with leading industry partners including Hamamatsu Photonics (Japan), the European Organization for Nuclear Research (Switzerland), Beijing Opto-Electronics Technology Co. Ltd. (China), NuCare Medical Systems (South Korea), the University of Washington (United States), and National NanoFab Center (South Korea). For more information visit www.zecotek.com, follow @zecotek on Twitter and "like" us in Facebook at www.facebook.com/zecotek.
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SOURCE: Zecotek Photonics Inc.
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