Singapore, December 23, 2014 - 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.
