SINGAPORE, July 28, 2016 /CNW/ - Zecotek Photonics
Inc. (TSX-V: ZMS; Frankfurt:
W1I.F, OTCPK: ZMSPF), a developer of leading-edge
photonics technologies for industrial, healthcare and scientific
markets, is pleased to announce that the major medical OEM based in
China, which selected Zecotek's
patented lutetium fine silicate (LFS) scintillation crystals for a
new line of high resolution positron emission tomography (PET)
medical imaging devices, has assembled the first PET medical
scanner for testing and has ordered Zecotek`s patented LFS crystals
for a second unit. As previously announced on March 23, 2016, Zecotek Imaging Systems signed a
memorandum of understanding (MOU) with the medical OEM to purchase
LFS scintillation crystals for a new line of medical scanners. The
OEM is now projecting the installation of up to 5 LFS based PET
scanners by year end and 200 scanners over the next five years in
hospitals and clinics across China. For competitive reasons the OEM has
requested to remain anonymous until the contract is in
effect.
"We are working closely with the Chinese OEM and the assembly of
a PET medical scanner with our LFS crystals is a significant
milestone," said Dr. A.F. Zerrouk,
Chairman, President, and CEO of Zecotek Photonics Inc. "The initial
test results of the assembled device are very positive and the OEM
has ordered more crystals for a second PET unit. OEM is working
through various tests and when complete, the installation of the
first unit will be finalized. While we were expecting the
installation of the first scanner in July, the second order of LFS
crystals is a significant endorsement of our faster and brighter
crystals. We now anticipate up to 5 LFS based PET scanners to be
installed by the end of December. We look forward to the
installation of the first PET medical scanner in the very near
future and completing the order of LFS crystals for the second PET
medical scanner."
As one of the world's fastest growing markets, China's medical scanning device industry
represents a significant opportunity for the OEM and Zecotek.
China has experienced rapid
economic growth, a growing middle class and an aging population,
which have placed pressure on the Chinese government to increase
investment in medical diagnostic equipment. Each PET scanning
device is made up of scintillation crystals, photo detectors and a
read out system and costs approximately $1,000,000 to manufacture. Scintillation
crystals represent approximately 45 percent of the total production
cost of a PET medical scanner. It is anticipate that Zecotek's
other key technologies, such as solid-state MAPD/T photo detectors
and the associated electronics which make up the other 35% of the
cost of a PET scanner, will be ready for full production by end of
third quarter 2016.
Zecotek's patented (US patent No. 7,132,060) LFS series of
scintillation crystals cover a wide range of emission wavelengths
which can be tailored to match the spectral sensitivity of various
photo detectors including Zecotek's own solid-state MAPD/T photo
detector arrays. The solid-state MAPD/T photo detectors offer
significant performance-cost advantages over competing
photomultiplier tubes (PMT) and other solid-state, silicon based
photo detectors. Its low manufacturing cost, excellent timing
resolution and photon detection efficiency are key characteristics
for the new configurations of high resolution PET scanners.
The LFS scintillation crystals will be supplied by
the Beijing Opto-Electronics Technology
Company (BOET), a subsidiary of North-China Research
Institute of Electronics-Optics an industry leader in growing,
cutting, polishing and large scale production of scintillation
crystals grown by the Czochralski method. Zecotek's
manufacturing process permits the growth of very large-diameter
boules with uniform properties and without cracking (a problem with
many competing scintillation materials), resulting in high element
output and lower unit costs.
About Zecotek
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, 3D metal printing, and lasers for applications in
medical, high-tech and industrial sectors. Founded in 2004,
Zecotek operates three divisions: Imaging Systems, Optronics
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, 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 and follow @zecotek on
Twitter.
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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
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SOURCE Zecotek Photonics Inc.