IBS Inc.

Fingerprint Drug Test Delivers Quantifiable Benefits for Customers as Adoption in Workplaces Accelerates

Fingerprint Drug Test

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Customers identify in-house control, project flexibility, productivity, and cost reductions as key business benefits of fingerprint sweat-based drug testing

Construction and manufacturing firms replace traditional urine and oral fluid drug tests with more hygienic and dignified Intelligent Fingerprinting Drug Screening System – disrupting workplace testing market

NEW YORK, January 30, 2024 Intelligent Bio Solutions Inc. (Nasdaq: INBS) (“INBS” or the “Company”), a medical technology company delivering intelligent, rapid, non-invasive testing solutions, today reported on the key operational benefits that customers are experiencing following deployment of the Intelligent Fingerprinting Drug Screening System to support workplace drug testing.

Customers across critical sectors such as construction, manufacturing and logistics are reporting substantial advantages post-implementation of the system, including:

  • enhanced control over drug screening processes by transitioning to in-house
  • improvements in workplace productivity
  • streamlined project compliance and
  • significant cost savings

A shift in preference toward fingerprint sweat-based drug screening has been observed, with many organizations seeking alternatives to traditional methods such as urine and oral fluid testing.

“We’re seeing an increasing need for drug and alcohol testing across major construction and manufacturing projects. Modern HSEQ and HR teams are recognizing that conventional drug testing approaches simply are not meeting the growing demands for improved operational efficiencies,” explained Harry Simeonidis, President and Chief Executive Officer at Intelligent Bio Solutions. “This realization is driving rapid customer adoption of our Intelligent Fingerprinting Drug Screening System, which not only offers a non-invasive, quick and easy solution but also improves efficiencies and unlocks significant productivity savings.”

Recent examples include:

  • A reduction in overall testing costs for P&O Ferries: P&O Ferries expects an estimated 90% reduction in overall drug testing costs by switching to an in-house program using the Intelligent Fingerprinting Drug Screening System, moving away from its former external urine drug testing service provider that required multiple cabins with toilet facilities, HR support, and external testers.

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.  Designed as a hygienic and cost-effective system, the test screens for 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. 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: www.ibs.inc 

Forward-Looking Statements:

Some of the statements in this press 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. 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

Media Contact:
Cheryl Billson
Comma Communications
cheryl.billson@commacomms.com
+44 (0)7791 720460

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