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

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 Company's portable Nuclear Magnetic Resonance (NMR) spectrometers.

Nanalysis Scientific Corp. Logo (CNW Group/Nanalysis Scientific Corp.)

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. This characterization requires an array of different analytical techniques and is carried out by skilled forensic scientists in thousands of laboratories worldwide. 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. These tools will not only identify known illicit drugs but will also identify unknown drugs that are derivatives of known illicit substances also referred to as designer drugs or new psychoactive substances (NPS). 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. The company is developing this application in the context of its quantitative NMR platform technology, which has other applications as well, beyond illicit drug detection.

"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 .  "This project builds on our ongoing relationship with the LKA police organization in Germany and on our continued culture of magnetic resonance innovation. We look forward to providing more solutions for law enforcement in combatting the increasingly societal problem of designer drugs and other deadly toxins."

About Nanalysis Scientific Corp. (TSXV: NSCI, OTCQX: NSCIF, FRA: 1N1)

Nanalysis Scientific Corp. operates two primary businesses: Scientific Equipment and Security Services. Within its Scientific Equipment business is what the Company terms "MRI and NMR for industry". The Company develops and manufactures portable Nuclear Magnetic Resonance (NMR) spectrometers or analyzers for laboratory and industrial markets. The NMReady-60™ was the first full-feature portable NMR spectrometer in a single compact enclosure requiring no liquid helium or any other cryogens. The Company has followed-up that initial offering with new products and continues to have a strong innovation pipeline. In 2020, the Company announced the launch of its 100MHz device, the most powerful and most advanced compact NMR device ever brought to market.

The Company's devices are used in many industries (oil and gas, chemical, mining, pharma, biotech, flavor and fragrances, agrochemicals, law enforcement, and more) as well as numerous government and university research labs around the world. The Company continues to exploit new global market opportunities independently and with partners.  With its partners, the Company provides scientific equipment sales and maintenance services globally.

In 2022, through its subsidiary KPrime, the Company was awarded a five-year, $160 million contract with the Government of Canada to provide maintenance services for passenger screening equipment in Canadian airports.  This has resulted in the expansion of the Company's Security Services business. The Company is providing airport security equipment maintenance services for the Government of Canada in each province and territory of Canada.  In addition, the Company provides commercial security equipment installation and maintenance services to a variety of customers in North America .

Notice regarding Forward Looking Statements and Legal Disclaimer

This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/nanalysis-corp-receives-funding-supporting-ai-software-development-for-detection-of-illicit-substances-302108047.html

SOURCE Nanalysis Scientific Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2024/04/c4926.html

News Provided by Canada Newswire via QuoteMedia

NSCI:CA
The Conversation (0)
RETRANSMISSION: Spearmint More Than Doubles the Acreage of the George Lake South Antimony Project in New Brunswick, Canada

RETRANSMISSION: Spearmint More Than Doubles the Acreage of the George Lake South Antimony Project in New Brunswick, Canada

Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the "Company" or "Spearmint") wishes to announce that it has more than doubled the acreage on the recently acquired George Lake South Antimony Project in New Brunswick, Canada. This project now consists of 4,722 contiguous acres prospective for antimony.

James Nelson, President of Spearmint stated, "In light of the recent ban of antimony by China to the USA, we made this strategic acquisition increasing the size of the George Lake South Antimony Project. Management feels that antimony will be one of the most sought after resources in 2025 and we plan to pursue this space with vigor and are currently evaluating additional projects. Management is formulating a plan on the George Lake South Antimony Project, and management also intends to update the market on Spearmint's crypto diversification plan in the near future as well. These are truly exciting times for Spearmint and Spearmint shareholders."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Elon Musk.

Tech 5: Musk Faces SEC Clash, Broadcom Surges, Google Makes Quantum Chip Breakthrough

Tech stocks surged this week as US and Canadian jobs data bolstered interest rate cut expectations.

Broadcom (NASDAQ:AVGO) became the newest member of the trillion-dollar club, crossing the market cap threshold in early trading on Friday (December 13) after a strong earnings forecast caught attention. Meanwhile, its peer NVIDIA (NASDAQ:NVDA) suffered losses as it prepares to face probes in both China and the US.

Meanwhile, Google (NASDAQ:GOOGL) announced a quantum computing milestone, and Tesla (NASDAQ:TSLA) CEO Elon Musk called out the US Securities and Exchange Commission (SEC) over multiple probes into his business dealings.

Keep reading...Show less
SEC website on phone screen.

SEC Reopens Investigation on Neuralink and Musk’s Twitter Deal

The US Securities and Exchange Commission (SEC) has reopened its investigation into Neuralink, Elon Musk’s brain-implant company, alongside a probe into Musk’s acquisition of Twitter, now rebranded as X.

A letter from Musk’s lawyer, Alex Spiro, disclosed the development on Thursday (December 12), raising questions about the ongoing legal disputes between Musk and the SEC, according to a Reuters report.

The letter, addressed to outgoing SEC Chair Gary Gensler, outlines the reopening of the Neuralink investigation and a settlement demand regarding the Twitter takeover, which happened in 2022.

Keep reading...Show less
Spearmint More Than Doubles the Acreage of the George Lake South Antimony Project in New Brunswick, Canada

Spearmint More Than Doubles the Acreage of the George Lake South Antimony Project in New Brunswick, Canada

Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the "Company" or "Spearmint") wishes to announce that it has more than doubled the acreage on the recently acquired George Lake South Antimony Project in New Brunswick, Canada. This project now consists of 4,722 contiguous acres prospective for antimony.

James Nelson, President of Spearmint, stated, "In light of the recent ban of antimony by China to the USA, we made this strategic acquisition increasing the size of the George Lake South Antimony Project. Management feels that antimony will be one of the most sought after resources in 2025 and we plan to pursue this space with vigor and are currently evaluating additional projects. Management is formulating a plan on the George Lake South Antimony Project, and management also intends to update the market on Spearmint's crypto diversification plan in the near future as well. These are truly exciting times for Spearmint and Spearmint shareholders."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Spearmint Announces Arrangements to Address Mailing Delays Resulting from Canada Post Strike

Spearmint Announces Arrangements to Address Mailing Delays Resulting from Canada Post Strike

Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the "Company" or "Spearmint") wishes to provide an update to shareholders on the impact of the strike by the Canadian Union of Postal Workers on the Company's ability to comply with its obligations to deliver to shareholders its financial statements and related disclosure and proxy-related materials in respect of the Company's annual general meeting of shareholders (the "Meeting") scheduled to be held at Cozen O'Connor LLP - 550 Burrard Street, Suite 2501, Vancouver, B.C., on Thursday, Dec. 19, 2024, at 10 a.m. PST.

James Nelson, President of Spearmint stated, "We want all of our shareholders to be aware of the current situation as there are many exciting events occurring for Spearmint in the short and medium term."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Sona Nanotech's THT Cancer Studies Demonstrates Strong Efficacy in Third Preclinical Study and Plans for First-in-human Early Feasibility Study

Sona Nanotech's THT Cancer Studies Demonstrates Strong Efficacy in Third Preclinical Study and Plans for First-in-human Early Feasibility Study

Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the "Company", "Sona") announces results from its most recent preclinical study of its Targeted Hyperthermia Therapy ("THT") which uses the Company's patented, biocompatible gold nanorods ("GNRs") to treat certain solid cancer tumors, shrinking them and acting as an immune stimulator. Building on its success in melanoma and breast cancer studies, the Company's third preclinical efficacy study was conducted in an immunologically 'cold' colorectal cancer model ("CT26"), a model that represents the majority of human colon cancers, which do not typically respond to current standard of care immunotherapies.

In this preliminary study, whereas no mice that were given standard immunotherapy alone showed any response, 100% of mice in the THT treatment group responded to the same immunotherapy with 50% (4 out of 8) of those tumors eliminated within 12 days of treatment, as shown by the green line in Figure 1, below.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×