Intelligent Bio Solutions Strengthens UK Market Position with Addition of Key Manufacturing Accounts

NEW YORK, July 09, 2024 (GLOBE NEWSWIRE) -- Intelligent Bio Solutions Inc. (Nasdaq: INBS) ("INBS" or the "Company"), a medical technology company delivering intelligent, rapid, non-invasive testing solutions, today announced the addition of several key accounts in the UK manufacturing sector. This announcement follows recent successes in the warehouse and logistics, transport and infrastructure, and retail sectors as the Company's growth momentum continues.

Recent additions to INBS' customer account portfolio include three major manufacturers, each with unique needs and challenges in maintaining workplace safety. A leading automotive components manufacturer with five sites and 1,200 employees has transitioned from third-party urine testing to the Intelligent Fingerprinting Drug Screening System. The previous method involved long wait times for testing call-outs, which delayed critical safety checks. The company has improved testing and operational efficiency by adopting INBS' instant, on-site fingerprint drug testing. Other account additions include a major packaging manufacturer operating four sites with approximately 900 employees and a well-known beverage manufacturer with two sites and 350 employees. Neither company had previously implemented drug testing protocols. Both companies required a quick, non-invasive method to test staff, and fingerprint drug testing provided the ideal solution, allowing for rapid and reliable testing.

Doug Heath, Vice President of Global Sales at INBS, commented, "Our Intelligent Fingerprinting Drug Screening System provides businesses within the manufacturing sector with an efficient and non-invasive method to enhance workplace safety, ensuring that safety-critical staff are fit for duty at all times. We are proud to support these companies in their commitment to maintaining a safe and productive work environment by providing an effective and easy-to-implement solution."

Drug‐ and alcohol‐related impairment in the workplace has been linked to an increased risk of injury for workers. The Health and Safety Executive (HSE) reported that the UK manufacturing sector had a statistically significant rate of non-fatal workplace injuries, with 1,740 injuries per 100,000 workers in 2022/23. These figures highlight the need for effective drug screening methods to ensure worker safety.

INBS' innovative solution addresses workplace safety concerns by providing accurate, on-the-spot testing. The Intelligent Fingerprinting Drug Screening System screens for common drugs of abuse, including cannabis, opiates, cocaine, and methamphetamine, using sweat from the fingertips. This method offers a non-invasive, rapid alternative to traditional testing methods, ensuring employees are fit for duty.

About Intelligent Bio Solutions Inc. 

Intelligent Bio Solutions Inc. (NASDAQ: INBS) is a medical technology company delivering innovative, 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 various indications, ranging from immunological conditions to communicable diseases. The Company's current customer segments include construction, manufacturing and engineering, transport and logistics firms, drug treatment organizations, and coroners. 

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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 successfully develop and commercialize its drug and 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. 

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