Singapore-based Zecotek Photonics (
TSX:V.ZMS,
Stock Forum) has received an order for $1.5 million worth of patented Lutetium Fine Silicate (LFS) scintillation crystals from strategic partner Hamamatsu Photonics (
OTO:HPHTF,
Stock Forum), for use in positron emission tomography (PET) medical scanning devices.
The LFS series boasts high light yields and ultra-fast decay times which make them useful for high-resolution operation of medical and industrial imaging devices.
The $75 million market cap Zecotek has sold to Hamamatsu previously.
"Hamamatsu is actively marketing Zecotek's patented LFS scintillation crystals," said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek Photonics Inc. in a company news release Tuesday, adding, "PET manufacturers are recognizing the cost/performance/IP advantages of using the LFS scintillation crystal.”
Zecotek has three divisions dealing with imaging systems, 3D display, and laser technology. The company has labs in Canada, Korea, Russia, Singapore and the U.S., with over 50 patented and patent pending photonic technologies.
According to the company, Hamamatsu is “the world's leading supplier of optoelectronics components including photo multiplier tubes and photo-diodes used in positron emission tomography (PET) medical scanners, the European Organization for Nuclear Research (CERN) projects and other industrial and scientific applications.”
Zecotek is bullish on the partnership.
“I am very pleased with the efforts of our strategic partner Hamamatsu,” said Zerrouk. “The LFS technology was well covered at the recent Nuclear Science Symposium and IEEE conference in Seoul, Korea and in front of thousands of Hamamatsu's customers at the November Photon fair in Japan. Our joint imaging projects are well on their way."
Zecotek stock has increased 277% over the last twelve months. It increased 1.22% to $0.83 on today's news with 91 million shares outstanding.
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