Benzinga | Jun 2, 2021 05:00PM EDT

Nortech Systems Announces Cooperation and Project Funding Agreement with Marp Technologies and the BIRD Foundation

Nortech Systems Incorporated (NASDAQ:NSYS) (the "Company"), today announced it has reached a bilateral Cooperation and Project Funding Agreement by and among Nortech Systems, Inc, Marp? Technologies (Marp?), and the BIRD (Israel-U.S. Binational Industrial Research and Development) Foundation. The agreement provides a conditional grant to Marp? Technologies and Nortech Systems to develop a total-body tele-dermatology scanning system. By using advanced scanning, sophisticated image processing algorithms, and state of the art AI, the system will save lives by reaching more patients through early detection.

Marp? Technologies, an Israel company, and Nortech Systems, a Minnesota company, are working together to bring a diagnostic platform to dermatology with remote AI capabilities. "We are excited to assist Marp? in bringing their prototype skin cancer detection technology to market" said Jay D. Miller, CEO Nortech Systems, "Our unique ability to provide engineering services, supply chain management and manufacturing services will accelerate commercialization of the product."

The BIRD Foundation works to encourage and facilitate cooperation between U.S. and Israeli companies in a wide range of technology sectors and offers funding to selected projects. The Foundation supports projects without receiving any equity or intellectual property rights in the participating companies or in the projects.

Marp? Technologies, based in Haifa, Israel, is a science-based company developing innovative scanners for early detection of skin cancer. Marp? has developed a prototype screening system that will provide full body remote diagnosis and prevention into dermatology, using a Marp? invention - TAD (Technology Aided Dermatology) and AI-CAD (Artificial Intelligence -- Computer-Aided Design) based system.

Tovi Bachar, CEO Marp? Technologies, stated, "The project will leverage the expertise of both companies working hand in hand in all aspects of the development and commercialization of the Marp? platform." David Kunin, Chairman of the Board Nortech Systems added, "We are happy to bring two of the leading med device development communities, Israel and Minnesota, together in a joint project."