Intelligent Bio Solutions Inc. (Nasdaq: INBS) (“INBS” or the
“Company”), a medical technology company developing and delivering
intelligent, rapid, non-invasive testing solutions, today announced
it has signed a distribution agreement for its Intelligent
Fingerprinting Drug Screening System with Chile-based company TSCOM
SPA, increasing the product’s availability across South America.
The Company further announced it received its first order under
this agreement, coming from a Chile-based electrical distribution
company.
The Intelligent Fingerprinting solution, which
is widely recognized as the world’s first fingerprint-based drug
testing system, analyzes fingerprint sweat to screen for recent
drug use, including cannabis, cocaine, opiates, and
methamphetamine. The innovative product provides a quick, easy,
non-invasive and dignified alternative to traditional point-of-care
drug testing methods, such as urine and saliva. The portable system
enables workplace managers to conduct simple, non-intrusive testing
anytime and almost anywhere, serving as a deterrent and encouraging
employees to adhere to Health & Safety policies.
Pablo Riera, Director at TSCOM SPA, said, “At
TSCOM, we’re looking forward to offering the innovative Intelligent
Fingerprinting drug screening system to the South American market,
and we’ll initially be targeting workplaces, government operations
and healthcare providers across Chile. We have been tracking the
increasing adoption of fingerprint-based drug screening for some
while and believe the Intelligent Fingerprinting solution provides
a great alternative for users of more traditional testing
methods.”
TSCOM SPA will offer customers a comprehensive
local service, from initial training to ongoing technical support
and the re-supply of drug screening cartridges.
Mr. Riera added, “We’re seeing a lot of local
interest in the innovative fingerprint-based test and have already
won our first order from a Chile-based electrical distribution
company for several readers. This customer quickly recognized the
advantages of the fingerprint test system – easy-to-use, in-house,
portable, non-invasive, and more hygienic than traditional
alternatives. We are currently carrying out training and helping
the client as they introduce fingerprint testing in their
workplace.”
Harry Simeonidis, President and CEO of
Intelligent Bio Solutions, commented, “Fingerprint drug testing is
increasingly being regarded as the smart alternative for workplace
drug screening. Since we acquired Intelligent Fingerprinting in Q3
2022, we have been working to expand our global reach for this
innovative testing solution. We are excited to extend our market
reach into South America through our partnership with TSCOM SPA. We
are thrilled they have moved so quickly to secure their first
customer for our solution.”
INBS’s Intelligent Fingerprinting Drug Screening
System comprises a small, tamper-evident drug screening cartridge
onto which ten fingerprint sweat samples are collected in under a
minute before the portable analysis unit provides an on-screen
result in under ten minutes.
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
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. This hygienic, and cost-effective system is
designed to screen 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 would be a valuable tool for employers
in safety-critical industries. Additionally, the Company's
biosensor platform has the potential 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/
About TSCOM
Established over 10 years ago, TSCOM advises on
and provides a comprehensive range of monitoring, security and
detection solutions to support workplace health and safety,
including drug and alcohol testing, GPS monitoring systems, and
state-of-the-art security solutions.
For more information, visit: www.tscom.cl
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
consummate the proposed transaction described in this press
release, develop, and commercialize its 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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