Intelligent Bio Solutions Completes In-Clinic PK Study and Starts Results Review

NEW YORK, June 28, 2024 — Intelligent Bio Solutions Inc. (Nasdaq: INBS) has successfully concluded the in-clinic portion of its pharmacokinetic (PK) study. This study is an essential part of the Company's plan to obtain regulatory approval via the 510(k) pathway.

On June 27, 2024, the Company completed dosing and sampling for the second cohort, marking the end of this study phase. The PK study's primary objective is to validate that the Company's method of collecting fingerprint sweat provides results comparable to those obtained from blood, saliva, and urine samples.

Peter Passaris, Vice President of Product Development at INBS, praised their clinical research partner, Cliantha Research, for the smooth execution of the dosing and sampling process. He stated that the Company is now focused on analyzing test results and compiling data to finalize the study report.

The specimens from the study are being analyzed using validated liquid chromatography/mass spectrometry (LC-MS) methods. The data analysis will compare the detection of opiates in fingerprint sweat with those from blood, saliva, and urine samples. The Company anticipates completing the full PK study by the third calendar quarter of 2024.

Intelligent Bio Solutions Inc. offers a groundbreaking fingerprint drug screening technology that uses sweat to provide a quick, hygienic, and user-friendly method for drug testing. This technology delivers results within minutes and tests for common drugs of abuse, including cocaine, cannabis, methamphetamine, and opiates.

Intelligent Bio Solutions Inc. is dedicated to delivering innovative, rapid, and non-invasive testing solutions. The Company believes its Intelligent Fingerprinting Drug Screening System will revolutionize portable testing through fingerprint sweat analysis. This hygienic and cost-effective system screens for recent drug use, making it useful for employers in safety-critical industries. The test involves sample collection within seconds and provides results in under ten minutes.

The Company's current customer base includes sectors such as construction, manufacturing, engineering, transport, logistics, drug treatment organizations, and coroners. Additionally, the biosensor platform developed by the Company has the potential to test for various indications, ranging from immunological conditions to communicable diseases.