Mr. Sean Krakiwsky reports

NANALYSIS CHOSEN BY IMRIS AS CRITICAL COMPONENT MRI SUPPLIER

Nanalysis Scientific Corp. has entered into a licensing agreement with Imris Imaging Inc. The company and Imris have signed a multipronged five-year original equipment manufacturer supplier and technology licensing agreement, which includes an upfront payment and builds on a prior contract completed over the past 12 months.

"We are very proud of our relationship with Imris, a leader in intraoperative MRI that provides optimized, fully integrated operating suites that address the important needs of patients, clinicians and hospitals," said Sean Krakiwsky, Nanalysis Scientific chief executive officer. "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."

Nanalysis chief technical officer Julien Muller said: "My vision has been to develop a technology platform that is feasible for benchtop NMR, high-field NMR and MRI. The fundamental math and physics are largely the same across many types of magnetic resonance applications, and value is optimized by adopting such a strategy. 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. We have been working with Imris for about a year and with their magnet subsidiary for over a decade. We are excited about our future together."

Marc Buntaine, Imris chief executive officer, stated: "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."

About Nanalysis Scientific Corp.

Nanalysis Scientific develops and manufactures portable nuclear magnetic resonance spectrometers used worldwide in pharma, biotech, energy, food, material and security industries, as well as in academic and government labs. The company also operates a growing service division that maintains both its own products and third party imaging equipment, anchored by a $160-million long-term contract with the Canadian Air Transport Security Authority to maintain security scanners at more than 80 Canadian airports.

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