Nanalysis Corp. Receives Funding Supporting AI Software Development for Detection of Illicit Substances

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Nanalysis Corp., a leader in portable NMR machines, MRI technology, and detection equipment services, announces that its subsidiary Nanalysis Corp. is receiving up to $1.45 million in non-repayable, non-dilutive funding from the Canada Industrial Research Assistance Program (NRC IRAP) to develop AI-based software tools to detect illicit substances using portable Nuclear Magnetic Resonance (NMR) spectrometers. The project, scheduled for three years, will focus on using quantum mechanical modeling and AI tools to analyze magnetic resonance results generated by Nanalysis benchtop instruments. The software will identify known illicit drugs as well as unknown drugs that are derivatives of known illicit substances. The funding will support the development of complementary software for Nanalysis' Benchtop products. Nanalysis CEO Sean Krakiwsky expressed gratitude for the support and highlighted the company's ongoing relationship with the LKA police organization in Germany. Nanalysis Scientific Corp. operates two primary businesses: Scientific Equipment and Security Services. The company develops and manufactures portable NMR spectrometers for laboratory and industrial markets and provides scientific equipment sales and maintenance services globally. In 2022, the company's subsidiary KPrime was awarded a five-year contract with the Government of Canada to provide maintenance services for passenger screening equipment in Canadian airports.

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https://finance.yahoo.com/news/nanalysis-corp-receives-funding-supporting-123000562.html