KMK Kromek Group Plc

TIDMKMK

RNS Number : 5662S

Kromek Group PLC

07 November 2023

7 November 2023

Kromek Group plc

("Kromek" or the "Company" or the "Group")

Collaboration agreement with new CT technology partner

Kromek and global technology solutions provider to develop next-generation CT detector technology

Kromek Group plc (AIM: KMK), a leading developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, announces that it has entered into a collaboration agreement with a new partner to develop Cadmium Zinc Telluride ("CZT") based detectors for photon counting computed tomography applications in the medical imaging sector.

The new blue-chip partner is a technology solutions provider to over 100,000 customers globally for a range of applications, including healthcare.

As part of the collaboration, Kromek will integrate its CZT sensors with the partner's read-out electronics to ensure optimal computed tomography ("CT") detection system performance. As the project progresses towards commercialisation, the Group will ensure production capability is available to support commercial demand ramp-up.

Arnab Basu, CEO of Kromek, said: "At Kromek, we have a strong track record of teaming up with leading global technology partners to advance new imaging solutions. Our CZT-based products are the enabling technology in ultra high-resolution systems. These systems provide clinicians with greater image quality that leads to earlier diagnosis, better patient outcomes and ultimately saves lives. We look forward to working with this new blue-chip partner to make another important advancement in medical imaging technology."

For further information, please contact:

 
Kromek Group plc 
Arnab Basu, CEO 
 Paul Farquhar, CFO                             +44 (0)1740 626 060 
 
Cavendish Capital Markets Limited (Nominated 
 Adviser and Broker) 
Geoff Nash/Giles Balleny/Seamus Fricker - 
 Corporate Finance 
 Tim Redfern/Charlotte Sutcliffe - ECM 
 Michael Johnson/Tamar Cranford-Smith - Sales   +44 (0)20 7220 0500 
 
Gracechurch Group (Financial PR) 
Harry Chathli/Claire Norbury/Henry Gamble       +44 (0)20 4582 3500 
 

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 and solid-state readout technology, are primarily used to protect critical infrastructure, events, personnel 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'.

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