Intelligent Bio Solutions Expands UK Market with Key Manufacturing Accounts

NEW YORK, July 9, 2024 – Intelligent Bio Solutions Inc. (Nasdaq: INBS), a company specializing in medical technology, recently announced the acquisition of several key accounts within the UK manufacturing industry. This announcement comes hot on the heels of recent gains in other sectors, including warehouse and logistics, transport and infrastructure, and retail. These new accounts underscore the company's ongoing expansion.

Among the new clients are three significant manufacturers, each facing unique challenges in maintaining workplace safety. One of the prominent new clients is a leading automotive components manufacturer, which operates five sites and employs 1,200 people. This company has made the transition from third-party urine testing to using Intelligent Bio Solutions’ Fingerprinting Drug Screening System. The previous urine testing method caused considerable delays due to long wait times for testing call-outs, hampering critical safety inspections. The switch to INBS's on-site fingerprint drug testing has improved both testing and operational efficiency.

Other new clients include a major packaging manufacturer with approximately 900 employees across four sites and a well-known beverage manufacturer that operates two sites with a workforce of 350 employees. Neither of these companies had previously implemented drug testing protocols. The need for a rapid, non-invasive drug testing method was met perfectly by INBS's fingerprint drug testing system, facilitating quick and reliable staff testing.

Doug Heath, Vice President of Global Sales at INBS, stated, "Our Intelligent Fingerprinting Drug Screening System offers an efficient and non-invasive solution for enhancing workplace safety. We are proud to support these companies in maintaining a safe and productive work environment by providing an effective and easily implementable testing method."

Workplace impairment due to drugs or alcohol has been linked to higher injury risks for workers. According to the Health and Safety Executive (HSE), the UK manufacturing sector reported a significant rate of non-fatal workplace injuries, with 1,740 injuries per 100,000 workers in the 2022/23 period. These statistics highlight the crucial need for effective drug screening to ensure worker safety.

INBS's innovative drug screening solution addresses these safety concerns by offering accurate, on-the-spot testing. The Intelligent Fingerprinting Drug Screening System can detect common drugs of abuse such as cannabis, opiates, cocaine, and methamphetamine using sweat from the fingertips. This method provides a non-invasive and rapid alternative to traditional testing methods, ensuring that employees are fit for duty promptly.

Intelligent Bio Solutions Inc. is a medical technology company focused on delivering innovative, rapid, and non-invasive testing solutions. Their flagship product, the Intelligent Fingerprinting Drug Screening System, aims to revolutionize portable testing through fingerprint sweat analysis. This hygienic and cost-effective system screens for recent use of drugs commonly found in workplaces, including opiates, cocaine, methamphetamine, and cannabis. With sample collection taking only seconds and results available in under ten minutes, this technology is a valuable tool for employers in safety-critical industries. Additionally, the company's biosensor platform holds potential for broader applications, such as testing for various medical conditions and communicable diseases.

The company's current customer segments span construction, manufacturing and engineering, transport and logistics firms, drug treatment organizations, and coroners.