Zecotek and NuCare Medical Systems of Korea Sign Joint Development Agreement

Zecotek and NuCare Medical Systems of Korea Sign Joint Development Agreement

Singapore, February 2, 2012 - Zecotek Photonics Inc. (TSX-V: ZMS; Frankfurt: W1I), a developer of leading-edge photonics technologies for medical, industrial and scientific markets, today announced that it has signed a joint development agreement with NuCare Medical Systems of Seoul, Korea to integrate a high performance positron emission tomography (PET) medical scanning device using Zecoteks patented LFS scintillation crystals, solid-state MAPD photo detectors and a new data acquisition board and readout system. NuCare is known for its innovation in product design and specializes in products in the area of nuclear medical imaging.

It is strategically very important for a company to have innovation and differentiation in its products, said Dr. Jinhun Joung, Chief Executive Officer NuCare Medical Systems. I strongly believe that Zecoteks world-leading patented technologies of the LFS scintillation crystals and the MAPD photo detectors combined with Nucares imaging technologies will enable us to secure a superior competitive position in the field of nuclear medicine in near future.

We chose to work with Nucare in integrating our imaging technologies into components and sub-systems for emerging markets to leverage the many years of expertize of Nucare highly qualified personnel, said Dr. Faouzi Zerrouk, Chairman and President of Zecotek.

Dr. Joung and his scientific team are recognized as leaders in the design of imaging technologies and are highly qualified to develop competing, high performance PET technology at a favorable cost.

The joint development agreement outlines the framework of how Zecotek and NuCare will enhance the data acquisition and readout electronics essential for PET scanners. It also provides for the integration of the three key elements: LFS crystals, MAPD photo detectors and the data acquisition board and readout system, into a new generation PET scanning device for markets in China and other emerging economies. NuCare will also assist in the commercialization of components and sub-systems and provide the technical know-how, critical to the design of the PET System and a PET Insert for CT (computed tomography) and MRI (magnetic resonance imaging) machines. Zecoteks imaging components allow for a cost effective, high performance new-generation PET system.

Zecoteks patented (US patent No. 7,132,060) Lutetium Fine Silicate (LFS) series of scintillation crystals are distinguished by their combined high light yields and ultra-fast decay times. These performance advantages enable faster and higher-resolution operation of medical imaging devices. The company pays particular attention and has taken steps the integrity and uniqueness of its LFS IP.

Zecoteks proprietary Micro-pixel Avalanche Photo Diodes (MAPD) are a clear substitution to existing photo multiplier tubes (PMT) and are more cost effective compared to other PMT alternatives. The all solid-state design make MAPD photo detectors compact and insensitive to high magnetic fields and dramatically improves linearity and allows for very tight timing resolution by providing fast pulse rise time and low jitter. Together with Zecoteks LFS scintillation material, they provide a powerful platform for medical imaging applications relying on -ray detection.

Zecoteks patented (US Patent No. 7,956,331 B2) Depth of Interaction technology improves the precision and hence the performance of positron emission tomography (PET) scanning and other medical detection systems.

Zecotek has secured two strategic partnerships to ensure a consistent supply of components at a competitive price: the Beijing Opto-Electronics Technology Co. Ltd. (China) specializes in the growing, cutting, polishing and the large scale production of LFS scintillation crystals and has access to raw materials; and the Malaysian Institute for Micro-electronics Systems (Malaysia) to manufacture Zecoteks patented solid-state MAPD photo detectors.

About NuCare Medical Systems, Inc.

NuCare Medical Systems, Inc. is based in Seoul, Korea and provides products in the field of radiation monitoring and nuclear medicine. Nucare medical system core competencies are in various types of NaI(Tl)PMT based gamma radiation detection/monitoring systems. The products of NuCare are featured with innovative design and concepts that offer superior quality while maintaining favorable price. Nucares products include digital MCA, thyroid uptake system, well counter, spectroscopic area monitor, TLC scanner, radiation portal monitor, food radiation scanner and more. For more information please visit http://www.nucaremed.com/nucare/index.html.

About Zecotek

Zecotek Photonics Inc (TSX-V: ZMS; Frankfurt: W1I) is a photonics technology company developing high-performance crystals, photo detectors, medical lasers, optical imaging and 3D display technologies for commercial applications in the medical diagnostics and high-tech industry. Founded in 2003, the company has three distinct operating divisions: medical imaging, medical lasers and 3D display and labs located in Canada, Singapore and Russia. Zecotek commercializes its novel, patented and patent-pending bio-photonic technologies directly and through strategic alliances and joint ventures with multinational OEMs, distributors and other industry leaders. For more information, please visit www.zecotek.com.

This press release may contain forward-looking statements that are based on managements 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.

For Additional Information Please Contact:

Zecotek Photonics Inc. CHF Investor Relations
Michael Minder Julia Clark, Account Manager
T: (604) 783-8291 T: (416) 868-1079 x236
ir@zecotek.com julia@chfir.com