Zecotek Signs Joint Collaboration Agreement with Intellectual Ventures
VANCOUVER, June 28, 2013 /PRNewswire/ – Zecotek Photonics Inc. (TSX-V: ZMS; OTCPK: ZMSPF, Frankfurt: W1I), a developer of leading-edge photonics technologies for medical,
industrial and scientific markets, today announced that it has entered
into a joint collaboration agreement with Intellectual Ventures (IV(®)) of Bellevue, Washington. The two companies will collaborate on intellectual property strategy, including the sourcing,
development, and monetization of new inventions related to photonics.
IV is one of the largest owners of U.S. patents and works closely with
inventors to develop and protect intellectual property.
“The agreement with Intellectual Ventures marks another important step
for Zecotek in the effort to build and protect its valuable patent
portfolio of over 50 patents,” said Dr. A. Faouzi Zerrouk, Founder and
CEO of Zecotek. “The collaboration with Intellectual Ventures aims to
enhance the innovation pipelines available to Zecotek, further
strengthen our intellectual property portfolio, and align us with the
world’s leading specialty invention company.”
“Intellectual Ventures is proud to collaborate with and offer
consultation to Zecotek, a cutting-edge photonics technology company,”
said Chris Alliegro, Executive Vice President and Managing Director,
Invention Development Fund at Intellectual Ventures. “The inventors at
Zecotek are truly world-class, and through this collaboration we will
create a strong portfolio of photonics related inventions and patents
that bring further innovation to important products such as PET-MRI
imaging systems used in medical, and industrial systems.”
The agreement also provides Zecotek with the opportunity to license IP
and technologies from the IV Invention Development Fund’s own portfolio
of photonics related inventions and patents created with its network of
more than 4,000 inventors – including individual inventors and
inventors from government labs, research institutions, corporations and
universities. As part of the terms of the agreement, Intellectual
Ventures will have the first right of refusal to purchase any
inventions or patents Zecotek may choose to divest.
Zecotek intends to issue shares for services to Intellectual Ventures in
exchange for the provisions included in the joint collaboration
agreement. The provisions of the agreement and the issuance of shares
for service are subject to approval by the TSXV and to compliance with
all applicable regulatory requirements.
About Intellectual Ventures
Founded in 2000, Intellectual Ventures (IV) is the global leader in the
business of invention. IV collaborates with leading inventors, partners
with pioneering companies, and invests both expertise and capital in
the process of invention. IV’s mission is to energize and streamline an
invention economy that will drive innovation around the world. For more
information, please visit www.intellectualventures.com, follow IV on Twitter at @IVinvents and “like” IV on Facebook at facebook.com/intven.
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 such as the European
Organization for Nuclear Research (Switzerland), Beijing
Opto-Electronics Technology Co. Ltd. (China), NuCare Medical Systems
(South Korea), 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.
This press release may contain forward-looking statements 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 difficult to predict.
Therefore, actual future results and trends may differ materially from
what may have been stated.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of the content of
this news release. If you would like to receive news from Zecotek in
the future please visit the corporate website at www.zecotek.com.
SOURCE Zecotek Photonics Inc.