Intelligent Bio Solutions Receives Non-Dilutive Grant Funding of USD $1.43 Million
20 Junho 2023 - 9:30AM
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
received a second progress payment of USD $1.43 million as part of
a scientific grant awarded to the Company in 2021 for USD $4.7
million, as announced by the Company on July 8, 2021. The latest
payment brings the total funds received to date to USD $3.25
million. The Medical Products Priority Grant, from the Australian
Federal Government’s Department of Industry, Science, Energy and
Resources’ Modern Manufacturing Initiative, which is subject to
conditions and achieving certain deliverables, was awarded to fund
the establishment of a state-of-the-art Australian medical device
manufacturing facility. The Australian Government identified the
project as one of six National Manufacturing Priorities under the
Modern Manufacturing Strategy (MMS).
“We are grateful for the continued support from
the Australian Federal Government,” said Harry Simeonidis,
President and CEO of Intelligent Bio Solutions. “This second
progress payment demonstrates the Australian Government’s
commitment to the development of high-tech medical devices and
solutions by Australian medical companies.”
About Intelligent Bio Solutions
Inc.
Intelligent Bio Solutions Inc. (the "Company")
(Nasdaq: INBS) is a medical technology company delivering
intelligent, rapid, non-invasive testing solutions. The Company's
Intelligent Fingerprinting Drug Screening System is revolutionizing
portable testing through fingerprint sweat analysis, which has the
potential for broader applications in additional fields. This
highly accurate, hygienic, and cost-effective system screens for
recent use of drugs commonly found in the workplace, including
opioids, cocaine, methamphetamine, and cannabis. With sample
collection in seconds and results in under ten minutes, this
technology is a valuable tool for employers in safety-critical
industries. Additionally, the Company's biosensor platform is being
expanded to test for up to 130 indications, ranging from glucose to
immunological conditions and communicable diseases. The Company’s
current customer segments 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 complete construction of a manufacturing facility and
commence production in Australia, develop and commercialize 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
Investor Contact:Valter Pinto, Managing
DirectorKCSA Strategic CommunicationsPH: (212)
896-1254INBS@kcsa.com
Media Contact:Cheryl BillsonComma
Communicationscheryl.billson@commacomms.com
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