Intelligent Bio Solutions Expands Global Reach with Multilingual Drug Screening System Upgrade

Rhea-AI Summary

Intelligent Bio Solutions (INBS) announced a major upgrade to its Intelligent Fingerprinting Drug Screening System, introducing multilingual capabilities that will make the system accessible to over 4 billion users worldwide. The upgrade will support multiple languages across North and South America, Europe, Asia Pacific, and the Middle East.

The enhancement aims to improve usability in safety-critical industries such as construction, mining, manufacturing, transport, and logistics. This development aligns with the company's global expansion strategy, including its planned entry into the US market in 2025, following its FDA 510(k) submission in December 2024.

The company's non-invasive drug testing solution uses fingerprint sweat analysis to detect multiple substances simultaneously. INBS currently maintains presence in 19 countries, targeting the workplace drug testing market, which is projected to reach approximately $8 billion globally by 2030.

Positive

• Expansion of potential user base to over 4 billion through multilingual capabilities
• Targeting $8 billion global workplace drug testing market by 2030
• Present in 19 countries with planned US market entry in 2025
• FDA 510(k) submission completed in December 2024

Negative

• None.

Insights

Market Research Analyst

The strategic multilingual upgrade of INBS' Drug Screening System marks a pivotal expansion move in the $8 billion workplace drug testing market. This enhancement significantly amplifies the company's addressable market, potentially reaching over 4 billion users across multiple continents. The timing is particularly strategic, coinciding with their FDA 510(k) submission and planned 2025 US market entry.

Three key aspects make this development particularly noteworthy for investors: First, the multilingual capability provides a distinct competitive advantage in penetrating diverse markets simultaneously, potentially accelerating international revenue growth. Second, the focus on safety-critical industries (construction, mining, manufacturing, transport and logistics) targets sectors with regulatory compliance requirements and steady demand for drug testing solutions. Third, building on their existing presence in 19 countries, this upgrade could significantly reduce market entry barriers and localization costs.

However, investors should consider several critical factors:

• Implementation timeline and resource allocation for the multilingual rollout
• Potential regulatory requirements in new markets beyond language adaptation
• Competition from established local players in target regions
• Impact on current operations and support infrastructure needs

The strategic alignment with the growing workplace drug testing market, combined with the company's non-invasive testing technology and expanded language accessibility, positions INBS to potentially capture a meaningful share of the projected market growth. The focus on safety-critical industries also provides a more resilient revenue base, as these sectors typically maintain testing requirements regardless of economic conditions.

Multilingual upgrade will make INBS’ Drug Screening System accessible to over 4 billion users worldwide, including users across the Americas, Europe, Asia and the Middle East, supporting its strategic global expansion goals and planned 2025 entry into the US market.

NEW YORK, Jan. 31, 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 plans for a major upgrade to its Intelligent Fingerprinting Drug Screening System. The system upgrade will support multiple languages spoken across North and South America, Europe, Asia Pacific and the Middle East, making the system accessible to over 4 billion speakers worldwide¹.

By introducing multilingual capabilities to its portable Drug Screening Reader, INBS is expanding access to the system and addressing the diverse needs of global organizations operating in multilingual environments. The update will enhance usability, ensuring greater efficiency in safety-critical industries such as construction, mining, manufacturing, transport, and logistics worldwide. This move aligns with the rapidly growing demand for workplace drug testing solutions, a market projected to reach approximately $8 billion globally by 2030².

“As we expand our global footprint, it is essential that our solutions are accessible and adaptable to meet the needs of an increasingly diverse customer base,” said Harry Simeonidis, President & CEO of Intelligent Bio Solutions. “This multilingual upgrade to our drug screening reader represents a significant step forward in our mission to deliver accessible testing solutions. Importantly, this update will open up opportunities for us to enter new international markets and customer segments, supporting revenue growth.”

INBS’ non-invasive Intelligent Fingerprinting Drug Testing Solution leverages innovative fingerprint sweat analysis to efficiently detect multiple substances of abuse simultaneously. The addition of multilingual capabilities aligns with INBS’ plans to scale its presence in key markets across the Americas, Europe, Asia, and the Middle East. The planned update supports INBS’ strategic international expansion by building on the Company’s recent FDA 510(k) submission in December 2024, its established presence in 19 countries, and its planned entry into the US market in 2025.

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 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, drug treatment organizations, and coroners.

For more information, visit: http://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

Hyperlinks and website references in this release are provided for convenience only and do not incorporate the referenced content into this release.

¹ Ethnologue, 2024. The Ethnologue 200. Available at: https://www.ethnologue.com/insights/ethnologue200/

² Grand View Research, 2018. Employer And Workplace Drug Testing Market Analysis, 2018-2030. Available at: https://www.grandviewresearch.com/industry-analysis/employer-workplace-drug-testing-market-report

FAQ

What is the expected market size for workplace drug testing by 2030 that INBS is targeting?

The workplace drug testing market that INBS is targeting is projected to reach approximately $8 billion globally by 2030.

When does INBS plan to enter the US market?

INBS plans to enter the US market in 2025, following their FDA 510(k) submission in December 2024.

How many countries does INBS currently operate in?

INBS currently maintains a presence in 19 countries globally.

What is the potential user reach of INBS's multilingual drug screening system upgrade?

The multilingual upgrade will make INBS's drug screening system accessible to over 4 billion users worldwide, across the Americas, Europe, Asia, and the Middle East.

Which industries are targeted by INBS's drug screening system?

INBS's drug screening system targets safety-critical industries including construction, mining, manufacturing, transport, and logistics worldwide.