Volumetrics Medical Imaging, LLC and Medison Co., Ltd. Announce Technology License and Settlement of Patent Litigation

Durham, North Carolina, and Seoul, Korea (PRWEB) June 25, 2010 -- Volumetrics Medical Imaging, LLC, of Durham, NC, and Medison Co., Ltd., of Seoul, Korea, have entered into a technology license agreement enabling Medison to make and sell products employing Volumetrics’ patents that enable real-time 3-D medical ultrasound images, for instance, of fetuses and of the heart.

Medison is a privately-held company headquartered in Seoul, Korea, where it conducts its research and development and manufacturing for markets worldwide. Widely recognized as a technology and market leader, Medison makes ultrasound imaging equipment for the obstetrics and gynecology, cardiovascular and radiology fields.

Volumetrics invented the methods of using computers to create and display 3-D images of the body in real-time, a valuable tool for physicians and other medical professionals worldwide who use the technology, for example, to diagnose and treat illnesses including heart conditions, and for monitoring fetal development before birth.

Volumetrics was founded by Duke University professors and researchers in order to commercialize inventions made in Duke University research laboratories. Professors Olaf von Ramm, Ph.D., Stephen W. Smith, Ph.D, and researcher John Oxaal, started the company in order to produce the first-ever working “real-time” medical ultrasound machine. That goal was achieved in the late 1990’s when the Volumetrics ultrasound device first enabled doctors to see images of a beating heart displayed on a computer screen. In 2000 Time Magazine named the Volumetrics real-time ultrasound imaging system Invention of the Year.

“We are excited and optimistic as we enter into this collaboration with Volumetrics. Our medical ultrasound products are already well received, and we are confident that our new technology license with Volumetrics will further help us address the needs of patients, families and doctors worldwide”, said Won Gihl Sohn, President and Chief Executive Officer of Medison.

“Duke University has encouraged and supported the development of the Volumetrics technology for over two decades. We are delighted to see that the Volumetrics technology will now be used by Medison,” said H. Gilbert Smith, Ph.D., Managing Director of the Duke University Office of Corporate Research Collaborations.

“Real-time 3D imaging has many clinical applications in the diagnosis, treatment and care of medical conditions, including cardiovascular imaging during diagnosis or surgery,” said Olaf von Ramm, Ph.D., Thomas Lord Professor of Biomedical Engineering and Professor of Medicine and Director of the Center for Emerging Cardiovascular Technology, a founder of Volumetrics and inventor of many of the Volumetrics patents.

“We look forward to further collaboration with Medison as it designs and sells medical products employing our Volumetrics technology that answer the medical needs of people worldwide”, said John Oxaal, Chairman of Volumetrics.

“Our work on the Volumetrics ultrasound technology dates to the 1980’s. It is rewarding that our patents will now be used by Medison to help create a new generation of medical ultrasound devices”, said Stephen W. Smith, Ph.D., Professor of Biomedical Engineering at Duke University, co-founder of Volumetrics and inventor of several of the Volumetrics patents.

“Real-time 3D medical ultrasound imaging is a wonderful tool for physicians and patients. Medison will be contributing significantly to the quality of medical care of patients worldwide by incorporating our Volumetrics technology into their devices”, said Bill New, M.D., Ph.D. and a member of the Board of Directors of Volumetrics.

Concurrently with entering into the technology license agreement, Volumetrics has dismissed Medison from its patent lawsuit pending in the federal district court for the Middle District of North Carolina. (CIVIL ACTION 1:05CV00955) Financial terms of the license were not disclosed.

Contact:

Volumetrics Medical Imaging, LLC.

Mark Foster, General Counsel and Secretary

4711 Hope Valley Rd Ste 4F No.148

Durham, NC 27707

408.993.8109

Medison Co., Ltd.

Jiyeon Lee, PR Manager/Market Strategy Team

Medison Bldg. 1003 Daechi-dong

Gangnam-gu, Seoul, Korea

+82 2 2194 1153

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