  PET is a functional imaging technique based on detection of annihilation
photons following beta decay producing positrons. In this paper, we present the
concept of a new PET system for preclinical applications consisting of a ring
of twelve time projection chambers filled with liquid xenon viewed by avalanche
photodiodes. Simultaneous measurement of ionization charge and scintillation
light leads to a significant improvement to spatial resolution, image quality,
and sensitivity. Simulated performance shows that an energy resolution of <10%
(FWHM) and a sensitivity of 15% are achievable. First tests with a prototype
TPC indicate position resolution <1 mm (FWHM).
