Portuguese electronics provider PETsys Electronics will supply a Chinese company with ASICs, application specific integrated circuits.
The new contract is worth about 1 million euros, enabling the adoption of PETsys Electronics technology by PET (Positron Emission Tomography) Industry in China, according to a company statement.
After approval by the Chinese National Medical Products Administration, this PET scanner will be launched in the Chinese market.
PET is one of the main tools for early cancer detection. “This will trigger a sustained increase in sales of PETsys Electronics over the coming years”, the company says.
PETsys is a backed by venture capital Portugal Ventures, that supports start-ups in Portugal.
The company provides electronic solutions for reading a large number of photo-sensor pixels in applications where a high data rate and excellent time resolution are required.
Typical applications are, among others, in medical imaging (Positron Emission Tomography), LIDAR, and fundamental research projects.
The company was founded at the end of 2013, building on 10 years of scientific research in a consortium of academic institutions (LIP, INESC, INEGI, FCUL, IBILI), including the international research centre CERN in Geneva.
After the initial investment period, the company is already profitable, for more than 4 years.