SMARTOX deployed over 50 INBS fingerprint drug screening readers, conducting 7,000 tests, as FDA clearance for U.S. expansion is pursued.
Quiver AI Summary
Intelligent Bio Solutions Inc. (INBS) has announced significant progress in the U.S. forensic drug screening market through its partnership with SMARTOX, a Texas-based leader in drug testing services. SMARTOX has deployed over 50 of INBS' Intelligent Fingerprinting Drug Screening Readers and conducted more than 7,000 screening tests, including over 1,500 tests in 2024, indicating a growing demand for rapid, non-invasive testing methods. INBS is actively seeking FDA clearance for its opiate test system for codeine, aiming to expand its market presence in 2025. The partnership enhances the capabilities of forensic environments by providing quick, hygienic testing that improves efficiency and user dignity. SMARTOX's commitment to innovation aligns with INBS' mission to revolutionize drug screening technology.
Potential Positives
- SMARTOX has successfully deployed over 50 Intelligent Fingerprinting Drug Screening Readers and facilitated over 7,000 screening tests, demonstrating strong demand for INBS' technology in the U.S. Forensic Use Only Market.
- INBS is actively pursuing FDA clearance for its opiate test system for codeine, which could pave the way for expansion into broader U.S. markets in 2025.
- The Intelligent Fingerprinting Drug Screening System offers rapid, non-invasive results, improving efficiency and user dignity in drug testing, which can appeal to a wide range of clients in various sectors.
Potential Negatives
- Company's ongoing pursuit of FDA clearance suggests potential regulatory hurdles that could delay broader market expansion.
- Reliance on a single strategic partnership (SMARTOX) for market penetration may expose the company to risks if the partnership does not yield expected results.
- Forward-looking statements highlight uncertainties regarding the company's ability to develop and commercialize its products successfully, raising concerns among potential investors.
FAQ
What drug screening technology has INBS deployed with SMARTOX?
INBS has deployed its Intelligent Fingerprinting Drug Screening Readers to facilitate non-invasive drug screening tests.
How many screening tests has SMARTOX conducted with INBS technology?
SMARTOX has conducted over 7,000 screening tests using INBS’ drug screening technology, including more than 1,500 tests in 2024.
What markets is INBS targeting for expansion?
INBS is targeting broader U.S. markets for expansion, including workplace drug testing, through its fingerprint sweat-based technology.
What are the benefits of the Intelligent Fingerprinting system?
The system improves efficiency, enhances user dignity, reduces costs, and eliminates logistical complexities in drug testing.
When does INBS expect to secure FDA clearance?
INBS continues to actively pursue FDA clearance, aiming to expand its presence in 2025.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$INBS Hedge Fund Activity
We have seen 6 institutional investors add shares of $INBS stock to their portfolio, and 7 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ALYESKA INVESTMENT GROUP, L.P. added 613,892 shares (+inf%) to their portfolio in Q1 2025, for an estimated $884,004
- ALTIUM CAPITAL MANAGEMENT LLC added 149,252 shares (+inf%) to their portfolio in Q1 2025, for an estimated $214,922
- SUSQUEHANNA INTERNATIONAL GROUP, LLP added 35,487 shares (+inf%) to their portfolio in Q1 2025, for an estimated $51,101
- GEODE CAPITAL MANAGEMENT, LLC added 22,411 shares (+84.2%) to their portfolio in Q1 2025, for an estimated $32,271
- TWO SIGMA SECURITIES, LLC removed 15,397 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $22,171
- GOLDMAN SACHS GROUP INC added 12,817 shares (+inf%) to their portfolio in Q1 2025, for an estimated $18,456
- GROUND SWELL CAPITAL, LLC removed 10,402 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $14,978
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SMARTOX has deployed over 50 of INBS’ Intelligent Fingerprinting Drug Screening Readers and facilitated over 7,000 screening tests, including more than 1,500 tests in 2024 alone
Company continues to actively pursue FDA clearance in connection with planned expansion into broader U.S. markets in 2025
NEW YORK, June 11, 2025 (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 an update on its growing footprint in the U.S. Forensic Use Only Market through its strategic partnership with SMARTOX, a Texas-based leader in drug and alcohol screening services.
SMARTOX supports clients across corrections, drug courts, rehabilitation centres, and other forensic environments. It has deployed over 50 Intelligent Fingerprinting Drug Screening Readers and facilitated over 7,000 screening tests, including more than 1,500 tests in 2024 alone, highlighting accelerated demand for non-invasive, rapid testing in forensic settings. INBS' drug screening technology is credited with reducing reliance on invasive methods such as urine or saliva collection, while delivering rapid and reliable results directly linked to the individual tested.
As adoption grows in the U.S. Forensic Use Only market, INBS continues to actively pursue FDA clearance for its opiate test system for codeine. This effort aims to enable expansion into broader U.S. markets this year, including workplace drug testing, using its innovative fingerprint sweat-based testing technology.
"We have partnered with SMARTOX to expand access to our fingerprint drug screening system across key forensic settings such as criminal justice," said Doug Heath, Vice President of Global Sales at Intelligent Bio Solutions. "SMARTOX's commitment to innovation aligns with our mission to transform drug testing through intelligent, non-invasive technologies."
SMARTOX is known for its expertise, innovation, and customer-focused approach to drug testing. Its portfolio includes DOT compliance solutions, instant and lab-based testing, and advanced technologies, including INBS' Intelligent Fingerprinting Drug Screening System, which enables hygienic, non-invasive drug screening in under ten minutes using fingerprint sweat. In addition to serving clients across the U.S., SMARTOX reaches international markets through its distribution network, including Europe, Latin America, New Zealand, and Australia.
"Our clients consistently report that the Intelligent Fingerprinting Drug Screening System improves efficiency, enhances user dignity, and simplifies operations," said Duffy Nabors, Vice President of Sales and Marketing at SMARTOX. "They value its speed, ease of use, and non-invasiveness, along with the ability to eliminate gender-specific staff requirements and special facilities. These benefits help our clients reduce turnaround times, lower costs, and eliminate logistical complexities, improving the overall testing experience."
About SMARTOX
SMARTOX, founded in 2012, is a U.S.-based provider of drug and alcohol testing products and services. It offers a comprehensive portfolio supporting a wide range of settings, including healthcare, justice, corporate, and education. SMARTOX is committed to delivering advanced technology and exceptional results, providing fully integrated services encompassing design, customer service, and administrative support for its product line. The company's footprint spans the U.S. and international markets. SMARTOX is actively scaling its presence in forensic testing markets through new investments, pilot programs, and expanded jurisdictional coverage.
About Intelligent Bio Solutions Inc.
Intelligent Bio Solutions Inc. (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 the 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. The Company’s current customer segments outside the US include construction, manufacturing and engineering, transport and logistics firms, mining, drug treatment organizations, and coroners.
For more information, visit: https://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 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.
Company Contact:
Intelligent Bio Solutions Inc.
info@ibs.inc
LinkedIn | Twitter
Investor & Media Contact:
Valter Pinto, Managing Director
KCSA Strategic Communications
PH: (212) 896-1254
INBS@kcsa.com
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