Intelligent Bio Solutions Completes Critical Development Milestone in Plans to Add Ketamine and Tramadol to Fingerprint Drug Test
08 Setembro 2023 - 10:00AM
Intelligent Bio Solutions Inc. (Nasdaq: INBS) (“INBS” or the
“Company”), a medical technology company delivering intelligent,
rapid, non-invasive testing solutions, today announced the
successful completion of a key development milestone in its plans
to add ketamine and tramadol to its Intelligent Fingerprinting Drug
Screening System. New assays for testing both drugs have passed the
Company’s initial design phase and are ready for scale-up and
transfer to manufacture in preparation for potential clinical
trials. After completing these activities and successful clinical
trials, the assays can be added to the panel of substances detected
by the Company’s proprietary drug screening system.
Ketamine is widely recognized worldwide as
having the potential for drug abuse due to its hallucinogenic
properties, while the synthetic opioid pain reliever tramadol is
being added to controlled substances lists around the world.
According to analysis conducted by the NYU Grossman School of
Medicine and National Drug Early Warning System (NDEWS) at the
University of Florida, the total weight of ketamine seized in the
U.S. increased by more than 1,100% between 2017 and 20221, while UK
Home Office statistics reports that the quantity of ketamine seized
by UK police and border forces increased by 884% between March 2021
and March 20222. According to the National Drug and Alcohol
Research Centre at the University of New South Wales, Australia is
also seeing a rise in the use of illegal ketamine usage, with over
half of regular drug users taking ketamine in 2021, an increase of
9% on the previous year3.
“While both ketamine and tramadol are widely
used for legitimate medical and veterinary purposes, its increased
use as a recreational drug has rapidly become a growing concern
when it comes to workplace drug testing,” said Harry Simeonidis,
President and CEO of Intelligent Bio Solutions. “We’re committed to
continuously improving of the design of our innovative fingerprint
drug testing system to test for major drugs with the potential for
abuse, and we’re pleased to begin the important transfer to
manufacture in preparation for potential clinical trials for our
ketamine and tramadol assay.”
The Intelligent Fingerprinting Drug Screening
System is portable and works by analyzing fingerprint sweat. It is
non-invasive, fast, and cost-effective, with sample collection
taking seconds and simultaneous screening for multiple drug groups
in ten minutes. A laboratory confirmation service is also
available. The system has applications within many sectors, and
customers include employers in safety-critical industries such as
construction, manufacturing and engineering, transport and
logistics firms, drug treatment organizations, and coroners. An
introductory video demonstrating fingerprint-based drug testing in
action is available here.
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/
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 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+44 (0)7791 720460
_________________________
1
https://nyulangone.org/news/research-finds-major-increase-seizures-illegal-ketamine-sparking-concerns-about-risks-use
2
https://www.gov.uk/government/statistics/seizures-of-drugs-in-england-and-wales-financial-year-ending-2022/seizures-of-drugs-in-england-and-wales-financial-year-ending-2022
3
https://ndarc.med.unsw.edu.au/news/major-changes-australian-drug-use-during-2021-says-annual-drug-trends-reports
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