Nanalysis Corp. Receives Funding Supporting AI Software Development for Detection of Illicit Substances
Summary
CALGARY, AB, April 4, 2024 /PRNewswire/ - Nanalysis Scientific Corp. ("the Company" or "Nanalysis", TSXV: NSCI, OTCQX: NSCIF, FRA: 1N1), a leader in portable NMR machines, MRI technology for industrial and research applications, and detection equipment services, announces that its subsidiary Nanalysis Corp. is receiving advisory services and up to $1.45 million in non-repayable, non-dilutive funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP), to develop Artificial Intelligence based software tools to detect illicit substances on top of the Companys portable Nuclear Magnetic Resonance (NMR) spectrometers.In the global fight against substance abuse, federal, state, provincial, county and municipal governments around the world are tasked with characterizing increasing volumes of seized contraband. In many cases these laboratories face significant sample backlog due to volume and may have difficulties in identifying new designer drugs.This project, scheduled for three years, will focus on using quantum mechanical modelling and AI tools to perform analysis of magnetic resonance results generated by Nanalysis benchtop instruments. The non-destructive nature of NMR spectroscopy and the fact that unlike traditional forensic testing methods, it is non-targeted, uniquely positions it to help identify these drugs. "We are very grateful for the support of NRC IRAP to further develop complementary software for our Benchtop products," said Nanalysis CEO and Founder Sean Krakiwsky. The Company develops and manufactures portable Nuclear Magnetic Resonance (NMR) spectrometers or analyzers for laboratory and industrial markets.