I need to turn on an LED (NTE 30030) for 100 milliseconds, turn it off and then immediately (< 1ns or as close to zero as possible) take measurements on a nearby (< 10mm away from LED) photodiode at 1 ns intervals for 5 ns. Those measurements can be put in a specialty buffer chip that can be retrieved later with an Arduino device.
Is this possible with specialty chips? Can Arduino do this? What kind of literature do I need to read to understand this problem?
EDIT: For clarity, this is for atomic fluorescence. The biomarker we are using continues to fluoresce for only 2.6 ns after excitation cut off. I can also use a laser if that makes it easier. For cost reasons, we cannot go down the route of photomultiplier tubes or monochromator style of setups. We're trying to make this accessible but it may not be feasible to do this reading some of the comments below. I am not an electronics expert.