Press Releases
Fovia Settles Litigation with TeraRecon
San Mateo, CA--July
2, 2007:
TeraRecon, Inc. today announced that Fovia and
certain persons now or previously associated with it agreed to pay
undisclosed but
significant sums, including royalty payments relating to past activities
and royalties on
future activities to TeraRecon, to settle a lawsuit pertaining to
3-D imaging technology
filed by TeraRecon against Fovia and certain employees including Ken
Fineman and
George Buyanovsky, in October of 2005. TeraRecon alleged in their
suit that Fovia
had developed their business with certain misappropriated trade secrets
including
business plans and computer source code.
The settlement also requires Fovia to take a license for certain
intellectual property
belonging to TeraRecon, and Fovia promises not to assert any claims
against
TeraRecon regarding certain intellectual property.
Commenting on the settlement, Motoaki Saito, M.D., chief executive
officer of
TeraRecon, said, “We are pleased that the parties have been
able to resolve this
dispute in a way that demonstrates TeraRecon’s commitment to
defending its rights
under trade secret and other laws, and thereby protecting the investment
of its
shareholders and employees.”
About TeraRecon, Inc.
TeraRecon Inc., a leader in advanced image processing and 3D visualization
techniques, provides advanced imaging systems for medical and other
visualization applications based on its unique and patented image
processing technologies. A two-time winner of Frost and Sullivan’s
Innovation award, the company has developed a leading portfolio of
products that advance the performance, quality, functionality, and
integration of image processing and 3D visualization systems. Founded
in 1997, TeraRecon has developed a unique family of powerful processors
that are used in its real-time diagnostic workstations, enterprise-wide
image processing 3D servers, dental and industrial Cone Beam CT scanners,
and high-performance reconstruction and real-time 3D volume rendering
hardware engines. TeraRecon is a fast growing, privately held company
with headquarters in San Mateo, CA, and branch offices in Concord,
MA; Tokyo, Japan; Osaka, Japan; and Trondheim, Norway.
Contact:
TeraRecon, Inc.,
Robert Taylor, Ph.D.,
Chief Operating Officer,
Executive Vice President
650.372.1100
info@terarecon.com
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