PRESS RELEASE
BURLINGTON, Mass. — 908 Devices Inc., a pioneer of purpose-built handheld gadgets for chemical evaluation, broadcasts that it has accomplished the acquisition of NIRLAB AG, a privately held firm primarily based in Lausanne, Switzerland. The firm delivers AI-powered, cloud-connected near-infrared (NIR) spectroscopy to carry out handheld chemical evaluation of narcotics in seconds.
This acquisition expands 908 Devices’ analytical portfolio and strengthens its management in narcotics detection with NIRLAB’s resolution for quick, high-volume screening for on a regular basis regulation enforcement patrol.
The NIRLAB handheld machine permits protected, point-and-click evaluation of greater than 400 widespread medicine, resembling cocaine and methamphetamine, instantly or by skinny plastic luggage and glass, delivering ends in seconds, to help real-time decision-making within the subject. Beyond identification, it quantifies drug purity in advanced mixtures and may analyze hashish, together with percentages of THC and CBD. Proven within the subject with over a million analyses, the platform integrates an intuitive cell app, seamless machine connectivity, and a subscription mannequin that delivers steady updates and evolving capabilities.
“We’re thrilled to welcome the NIRLAB team to 908 Devices. Our combination creates a powerful end-to-end workflow advantage for our law enforcement customers,” mentioned Kevin J. Knopp, CEO and Co-founder of 908 Devices. “From fast, simple screening to trace-level analysis to detection of a broad range of substances, we offer a comprehensive solution for field-based chemical identification.”
“We are excited to join 908 Devices and bring our NIR technology to a global audience,” mentioned Florentin Coppey and Matteo Delbrueck, co-CEOs of NIRLAB AG. “Combining our proven technology platform with 908 Devices’ market leadership, commercial infrastructure, and complementary product portfolio creates a powerful opportunity to better serve law enforcement agencies worldwide.”
NIRLAB AG was based in 2021 as a spin-out of the University of Lausanne, a worldwide chief in forensic science. The firm relies in Switzerland and employs 15 individuals.
The buy consideration contains an upfront fee of $15 million, consisting of $13 million in money and $2 million of 908 Devices widespread stock. The buy settlement additionally contains as much as a further $8 million in 908 Devices widespread stock upon the achievement of efficiency milestones over the following 20 months.
About 908 Devices
908 Devices is revolutionizing chemical evaluation with its easy handheld gadgets, addressing life-altering purposes. The Company’s gadgets are used on the point-of-need to interrogate unknown and invisible supplies and supply fast, actionable solutions in important well being, security and protection tech purposes, addressing the fentanyl and illicit drug disaster, poisonous carcinogen publicity, and international safety threats. The Company designs and manufactures modern merchandise that carry collectively the ability of complementary analytical applied sciences, software program automation, and machine studying. For extra info, go to 908devices.com.