Israeli nano-tech firm Explay in Luminetx partnership

Luminetx will use Explay's technology and will also invest in the company.

Israeli nano-technology firm Explay and Luminetx announced that they have signed a collaboration agreement for Explay to develop and commercialize an ultra small mobile projector that will be a key component in the future development of the Luminetx's VeinViewer. Future Luminetx innovations will benefit from miniaturization and additional image enhancements provided by Explay technology.

US medical imaging company Luminetx’s VeinViewer locates subcutaneous vasculature and projects real-time images directly onto the surface of the skin. It provides clinicians with a safe, non-invasive adjunct technology for clinical treatments and procedures including, but not limited to, IV insertion, routine venipuncture (blood sampling) and PICC line insertion. Explay’s ultra small mobile-projection technology produces an eye safe, always focused, speckle free quality image.

Incorporating Explay's technology in future developments of the VeinViewer will enable a more flexible and mobile application of the existing system and will cater to the needs of a broader customer base, expanding its market reach.

“As a result of the clear synergies, we decided not only to partner with Explay, but also to invest in this company, which we feel has a very bright future.” said Mr. Al Gossett, Chairman of the Luminetx board.

“Initially, we went to visit Explay as part of projection technology research for future VeinViewer product development. However, during our due diligence, we discovered a power house with superior mobile projection technology. Explay has a market ready CE product that produces an eye safe and always focused projection, crucial for all patient care," added Rodney Schutt, COO of Luminetx.

Explay develops ultra-small projector engines for a wide variety of consumer applications. The technology is a customizable optics and electronics solution that may either be packaged as a companion device or be embedded in handheld products such as mobile phones, portable media players and digital cameras.

Published by Globes [online], Israel business news - www.globes.co.il - on October 28, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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