Kromek Group PLC Kromek and Analogic Collaboration Agreement (6653W)

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RNS Number : 6653W

Kromek Group PLC

19 April 2023

19 April 2023

Kromek Group plc

("Kromek" or the "Group")

Kromek and Analogic Announce Collaboration Agreement to Develop Next Generation

Computed Tomography (CT) Detector Technology

CZT-based Photon Counting CT technology is poised to enable imaging and detection breakthroughs

not achievable with conventional technology

Kromek Group plc (AIM: KMK) and Analogic Corporation today announced they have entered into an agreement to collaborate on the development of next-generation Cadmium Zinc Telluride (CZT) based detector solutions for Photon Counting Computed Tomography (PCCT) applications in the medical imaging and security sectors.

CZT-based PCCT detectors overcome limitations inherent in conventional CT detectors to deliver improvements in spatial resolution, radiation dose reduction and energy resolution. This innovative technology can result in improved image quality whilst also providing a gateway to material characterization and quantitative results allowing early detection of life-threatening illness such as breast cancer or heart disease when used in medical imaging. In security screening, the improved image quality and 3D images of passenger bags and parcels will allow passengers to keep luggage in their bag whilst accurately identifying prohibited and dangerous items in real time.

As part of the collaboration, Kromek will integrate CZT sensors with Analogic's detector designs to ensure optimal detection system performance. As the project progresses toward commercialisation, the Group will ensure production capability is available to support Analogic's PCCT demand.

As global leaders in CT detector technology for over 50 years, Analogic continues to advance its product offering of systems and subsystems in both security and medical imaging applications. Its PCCT technology is designed to enable new system solutions as well as upgraded options for installed systems.

Arnab Basu, CEO of Kromek, said : "At Kromek we are constantly looking to team up with leading global organisations who match our vision and desire to improve patient outcomes as well as combine our technologies to enhance the safety of our citizens. Analogic has a long track record in doing just this and we are looking forward to our collaboration to enable Analogic to bring the next generation of CT scanners to the market."

Tom Ripp, Analogic CEO, said: "As pioneers in CT imaging and detection technology, we are excited about this collaboration with Kromek to bring the next generation of PCCT detection solutions to market." Mr. Ripp continued: "This project underscores Analogic's desire to make the world a healthier and safer place for patients and passengers globally."

For further information, please contact:

 
Kromek Group plc 
Arnab Basu, CEO 
 Paul Farquhar, CFO                            [phone] 
finnCap Ltd (Nominated Adviser and Broker) 
Geoff Nash/Emily Watts/Seamus Fricker/George 
 Dollemore Corporate Finance 
 Tim Redfern/Charlotte Sutcliffe - ECM         [phone] 
Gracechurch Group (Financial PR) 
Harry Chathli/Claire Norbury                   [phone] 
 

Kromek Group plc

Kromek Group plc is a leading developer of radiation detection and bio-detection technology solutions for the advanced imaging and CBRN detection segments. Headquartered in County Durham, UK, Kromek has manufacturing operations in the UK and US, delivering on the vision of enhancing the quality of life through innovative detection technology solutions.

The advanced imaging segment comprises the medical (including CT and SPECT), security and industrial markets. Kromek provides its OEM customers with detector components, based on its core cadmium zinc telluride (CZT) platform, to enable better detection of diseases such as cancer and Alzheimer's, contamination in industrial manufacture and explosives in aviation settings.

In CBRN detection, the Group provides nuclear radiation detection solutions to the global homeland defence and security market. Kromek's compact, handheld, high-performance radiation detectors, based on advanced scintillation technology, are primarily used to protect critical infrastructure and urban environments from the threat of 'dirty bombs'.

The Group is also developing bio-security solutions in the CBRN detection segment. These consist of fully automated and autonomous systems to detect a wide range of airborne pathogens.

Kromek is listed on AIM, a market of the London Stock Exchange, under the trading symbol 'KMK'.

Further information is available at www.kromek.com.

Analogic Corporation

Analogic Corporation, headquartered in Peabody, MA, USA, is a global leader in design, development manufacturing and support of technically advanced and cost-effective imaging & detection and power & automation solutions for security, healthcare, and other high-end industrial markets. Analogic has been a leader in the field of Computed Tomography for over 40 years, with technology installed in over 60,000 CT systems deployed worldwide. For more information, please visit www.analogic.com.

Contact:

Jason Plante [phone]

VP, Medical Imaging

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April 19, 2023 02:00 ET (06:00 GMT)