Vancouver, BC (PRWEB) February 27, 2012
Canada-based Zecotek Photonics is a developer and owner of proprietary and patent‐protected photonics technologies.
Zecotek’s proprietary products are used in a variety of medical technologies and high energy physics. The company has spent years and invested millions of dollars developing its technologies to be in position to supply many companies with in-demand products.
One of Zecotek’s primary proprietary technologies is crystals – specifically, lutetium fine silicate (LFS) scintillation crystals - used in the Positron Emission Technology (PET) scanning devices.
The Medical Imaging and Technology Alliance states PET scanners are used in the evaluation of cancer, heart disease, and neurological diseases. And according to industry statistics, the leading manufacturers of PET scanners are General Electric, Philips, and Siemens.
The PET scanner market has been steadily increasing for over a decade. Between 1997 and 2007, Frost & Sullivan found more than $3 billion of PET scanners were sold. And total PET scanner sales volume in the U.S. alone is estimated to be between $600 million and $800 million per year.
Zecotek has recently announced it has the filed a lawsuit in U.S. Federal District Court in Los Angeles (CV12-01521) against defendants Saint-Gobain Corporation and Philips for infringement for patent infringement (U.S. Patent Number 7,132,060).
When the announcement of the lawsuit was made, Dr. A.F. Zerrouk (Zecotek’s Chairman, CEO, and President) stated, “We believe that this patent is fundamental, and that damages are very substantial. Our management, engineers with its principal scientists Drs. Alexander I. Zagumennyi and Yuri D. Zavartsev, world leading crystal scientists and members of the Institute of the Russian Academy of Sciences, have invested significant resources in the development and commercialization of our LFS scintillation crystals, including our ultra-fast Ce:Ca:LSO/LYSO scintillators. We have spent many years of hard work to develop and secure this unique crystal technology. We are determined to vigorously enforce our intellectual property rights to recover damages afflicted on Zecotek and the lost value to our shareholders.”
Intellectual property is a foundation to the entire technology industry – be it medical, telecommunications, or any other technological field.
Patent infringement is a serious matter in these sectors where the industry leaders have and continue to vigorously defend their investments in the development of new technologies. When dealing in multi-million industries, the damages can be significant when infringement is found to have occurred by the proper legal authorities.
In an industry that accounts for between $600 and $800 million dollars, the potential for damage awards to Zecotek and its shareholders may be a material amount.
Zecotek last traded at 63 cents per share before the announcement of the lawsuit. The current share price gave the Zecotek a total market value of just over $43 million.
Learn more about the entire lawsuit in Zecotek’s official announcement of the lawsuit and its potential impact on the future valuation of the company by viewing the full announcement here.
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