Nanalysis Scientific enters licensing deal with Imris

Executive Summary

• Nanalysis Scientific Corp. has entered into a five-year original equipment manufacturer (OEM) supplier and technology licensing agreement with Imris Imaging Inc.
• The agreement is non-exclusive and includes an upfront payment, providing immediate cash flow and medium-term revenue potential.
• The deal leverages Nanalysis's core electronics and software, which are utilized in both their MRI and NMR product lines, validating their cross-application technology platform strategy.

Key Details

• Agreement Structure: Multipronged five-year OEM supplier and technology licensing agreement.
• Payment Terms: Includes an upfront payment; specific financial figures for the upfront amount or total contract value are not disclosed in the release.
• Scope: The agreement builds on a prior contract completed over the past 12 months.
• Technology Application: The core electronics and software licensed to Imris are also used in Nanalysis's benchtop NMR and high-field NMR products sold globally.
• Strategic Context: The deal is described as reinforcing the synergy between Nanalysis's MRI and NMR businesses to create scalable, global growth opportunities.

Notable Quotes

• Sean Krakiwsky, CEO, Nanalysis Scientific: "The non-exclusive agreement we are announcing provides some immediate cash and some larger, medium-term revenue potential. The core electronics and software being licensed are also used in our benchtop NMR and high-field NMR products, which are sold around the world. This deal is emblematic of how our MRI and NMR businesses reinforce one another to create scalable, global growth opportunities."
• Julien Muller, CTO, Nanalysis Scientific: "This deal validates our technology platform strategy of leveraging our core electronics and software for different types of magnetic resonance applications where image quality and speed are paramount."
• Marc Buntaine, CEO, Imris: "We have a very rigorous process to vet critical component suppliers, and have been very impressed by Julien and the Nanalysis team. Their MRI console has allowed us to be successful during system prototyping, and we are confident that Nanalysis Scientific Corp. is the right partner as we continue development and progress toward commercialization."