InspectIR Systems Secures Seed Funding to Advance Non-Invasive Portable Drug Detection Technology

VCBeat (WeChat ID: vcbeat) has learned that on November 26, 2019, local time, U.S. medical device company InspectIR Systems (InspectIR Systems, LLC) announced the completion of its seed financing round, with the amount raised undisclosed.

InspectIR Systems, founded in late 2017 and headquartered in Frisco, Texas, USA, is a medical device company specializing in the research, development, and manufacturing of portable testing tools for opioids and cannabis. This round of financing will be used to continue expanding the InspectIR Systems team, as well as its laboratory and R&D operations.

InspectIR Systems, the creator of qualitative and quantitative breathalyzers for narcotics, is led by CEO Tim Wing and COO John Redmond. The company leverages patent-pending technology to analyze users’ breath and deliver quantitative results in under 90 seconds. This technology is poised to disrupt the drug testing industry and provide services to multiple medical institutions.

InspectIR Systems has formed a strategic alliance with the University of North Texas, with plans to initiate clinical testing, validation, and initial customer installations by the end of 2019. Tim Wing, CEO of InspectIR Systems, stated, “We are proud of our team and partners. More than 22 months ago, we set a goal and immediately began addressing it. It is impressive to have taken a medical technology device from concept to production in such a short timeframe. We are pleased to have completed our first round of financing and continue to exceed expectations.”

The legalization of marijuana in some U.S. states, coupled with the growing popularity of CBD (cannabidiol) products, has created a critical window for reevaluating current drug testing protocols.

John Redmond, Chief Operating Officer of InspectIR Systems, stated, “We are very excited about InspectIR’s performance over the next 18 to 24 months. The challenges associated with ending the cannabis ban are leading to unforeseen consequences, such as the inability to determine levels of intoxication. Currently, without invasive testing methods available on the market, it is impossible to accurately monitor or measure intoxication levels. While there is urgent demand for THC (tetrahydrocannabinol) detection, the CBD ‘gold rush’ has resulted in serious issues with false positives and inconclusive test results when attempting to report both THC and CBD levels. This is a significant problem, and our technological solution will differentiate between the two.”

Unlike medical devices currently produced in the industry, those manufactured by InspectIR Systems are not limited to measuring cannabis, tetrahydrocannabinol (THC), and cannabidiol (CBD). Instead, the company focuses on broader drug testing.

CEO Tim Wing stated, “What truly sets us apart from other potential competitors in the market is InspectIR’s ability to detect opioids and other substances. We will disrupt the existing landscape of the narcotic testing industry by delivering speed, clarity, and accountability that have been lacking in the sector to date. For decades, the drug testing market has relied solely on urinalysis and blood draws. Compared with urinalysis, the InspectIR breath analyzer will provide more detailed qualitative and quantitative results, presenting them within seconds alongside blood test outcomes.”

(Compiled by Wang Fang)