INBS Intelligent Bio Solutions Inc

Intelligent Bio Solutions Inc. (Nasdaq: INBS) ("INBS" or the "Company"), a medical technology company delivering intelligent, rapid, non-invasive testing solutions, today announced it has expanded access to its fingerprint drug testing in Spain and Andorra through a strategic collaboration with Detecto, a division of Spanish distributor MTB Distribuciones Tecnologicas SL ("MTB").

MTB established Detecto following decades of experience in clinical distribution, recognizing the market's evolving needs and increasing demand for drug testing across various sectors. Detecto is now a leading provider of drug testing solutions throughout Spain and Andorra. INBS' partnership with Detecto aims to leverage the strengths of both companies and expand access to fingerprint sweat-based drug testing across various sectors, including workplace safety and transportation.

Detecto already supplies INBS' solution to major clients in these sectors, including transportation network, Metro Barcelona, and one of Spain's largest mines based out of Rio Tinto, where INBS’ solution is integrated into existing security protocols to enhance workplace safety. The testing volumes of these accounts currently require a supply of 1,000 cartridges per month to Detecto, reflecting the trust and confidence these accounts place in INBS' technology. The Company’s drug testing system has been well received among Detecto's clients due to its non-invasive nature, ease of collection, and increased acceptance among workers. Additionally, the system's yearly calibration reduces maintenance costs compared to other devices.

"Detecto's success in securing these large accounts in Spain is a strong indication of the wider adoption of our technology in the country," said Doug Heath, Vice President of Global Sales at Intelligent Bio Solutions. "These strategic partnerships are key to our expansion into the European market and the broader implementation of fingerprint drug screening across additional regions." 

The Spanish drug testing market is anticipated to reach $448 million by 20301, driven by efforts to prevent drug abuse, a growing acceptance of drug screening as a critical tool for maintaining safety, and rising illicit drug use. Detecto is broadening its focus to include law enforcement and rehabilitation while proactively engaging with the maritime sector. Additionally, Detecto sees strong growth potential in ports, mining and transportation.

About Detecto

Detecto was established as an independent business line within the company MTB Distribuciones Tecnologicas SL to provide the best possible service to professionals working in the prevention and treatment of addictive behaviors. Today, Detecto is a leading supplier in this sector in Spain, offering training and information to its clients on new drugs, technologies, and more. The Spanish labor market and the increasing emphasis on worker safety and well-being, particularly in high-risk sectors, is a key focus for Detecto which has achieved considerable success. Detecto provides consulting services to companies across Spain concerning substance abuse in the workplace, its safety implications, and prevention strategies. The company further provides advice to businesses on how to offer their employees an ethical, legal, and effective way to prevent the abuse of psychoactive substances. As part of this service, Detecto supplies cutting-edge technology to detect substance use in a way that is minimally invasive and highly effective.

About Intelligent Bio Solutions Inc.

Intelligent Bio Solutions Inc. (NASDAQ: INBS) is a medical technology company delivering intelligent, rapid, non-invasive testing solutions. The Company believes that its Intelligent Fingerprinting Drug Screening System will revolutionize portable testing through fingerprint sweat analysis, which has the potential for broader applications in additional fields. Designed as a hygienic and cost-effective system, the test screens for the recent use of drugs commonly found in the workplace, including opiates, cocaine, methamphetamine, and cannabis. With sample collection in seconds and results in under ten minutes, this technology would be a valuable tool for employers in safety-critical industries. The Company’s current customer segments outside the US include construction, manufacturing and engineering, transport and logistics firms, drug treatment organizations, and coroners.

For more information, visit: http://www.ibs.inc

Forward-Looking Statements: 

Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, Intelligent Bio Solutions Inc.'s ability to successfully develop and commercialize its drug and diagnostic tests, realize commercial benefit from its partnerships and collaborations, and secure regulatory approvals, among others. Although Intelligent Bio Solutions Inc. believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Intelligent Bio Solutions Inc. has attempted to identify forward-looking statements by terminology, including "believes," "estimates," "anticipates," "expects," "plans," "projects," "intends," "potential," "may," "could," "might," "will," "should," "approximately" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, included in Intelligent Bio Solutions' public filings filed with the Securities and Exchange Commission. Any forward-looking statements contained in this release speak only as of its date. Intelligent Bio Solutions undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.

Company Contact:   Intelligent Bio Solutions Inc.  info@ibs.inc   LinkedIn | Twitter 

Investor & Media Contact:  Valter Pinto, Managing Director  KCSA Strategic Communications  PH: (212) 896-1254  INBS@kcsa.com

Hyperlinks and website references in this release are provided for convenience only and do not incorporate the referenced content into this release.

1 Grand View Research. Spain Drug Testing Market Size & Outlook. Available at: https://www.grandviewresearch.com/horizon/outlook/drug-testing-market/spain