Intelligent Bio Solutions Partners with Princebuild to Transition from Saliva Testing to Fingerprint Sweat-Based Drug Screening Across its Seven UK Sites
Rhea-AI Summary
Intelligent Bio Solutions (INBS) announced that Princebuild, a UK construction firm with seven sites, has adopted INBS' Intelligent Fingerprinting Drug Screening System, transitioning from saliva testing to fingerprint drug screening. The system offers a more streamlined, in-house solution prioritizing efficiency, accuracy, and employee privacy.
Princebuild joins INBS' portfolio of over 400 accounts across 19 countries, including notable construction companies like Mount Anvil, Hayfield Homes, Stonbury, MBP Structures, and PJ Hegarty & Sons U.K. The technology is used across multiple industries, including construction, mining, manufacturing, transport, law enforcement, and forensics.
Following its FDA 510(k) submission in December 2024, INBS plans to enter the US market in the first half of 2025, targeting expansion in the drug screening products market.
Positive
- Expansion of client base with addition of multi-site construction firm
- Strong market presence with 400 accounts across 19 countries
- Pending FDA 510(k) submission positions company for US market entry in 2025
- Diversified industry application across multiple sectors
Negative
- None.
Insights
The partnership with Princebuild represents a strategic expansion of INBS's presence in the UK construction sector, but more importantly signals momentum ahead of their planned US market entry in H1 2025. The existing portfolio of 400+ accounts across 19 countries demonstrates proven market acceptance of their fingerprint sweat-based drug screening technology.
The construction industry represents a significant market opportunity, particularly as companies shift away from traditional testing methods. The recent FDA 510(k) submission in December 2024 positions INBS to tap into the lucrative US drug screening market, estimated at
For a company with a market cap of just
The technological advantages of INBS's fingerprint sweat-based system over traditional saliva testing are significant. The platform offers simultaneous multi-substance detection with rapid results, addressing key pain points in workplace drug screening. The shorter detection window is particularly innovative, as it focuses on recent drug use relevant to workplace safety rather than historical consumption.
The system's non-invasive nature and respect for privacy align with evolving workplace cultures and employee rights considerations. From an implementation perspective, the simplicity and in-house testing capability reduce operational complexity and dependencies on external labs, potentially leading to substantial cost savings for adopting companies.
Think of it like a modern fingerprint door lock versus traditional keys - it's faster, more efficient and provides better data management capabilities while being less intrusive for users.
Princebuild joins INBS’ portfolio of over 400 accounts in 19 countries as the Company plans to enter the US market in the first half of the 2025 calendar year
NEW YORK, Jan. 14, 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 that Princebuild, a leading construction firm with seven sites and operations spanning six key divisions, has adopted INBS’ Intelligent Fingerprinting Drug Screening System. Princebuild has made a strategic decision to move from saliva testing to fingerprint drug screening in order to implement a more streamlined, in-house solution that prioritizes efficiency, accuracy, and respect for employee privacy.
Princebuild, an established construction company in Peterborough, Cambridgeshire, UK and its surrounding areas, has integrated INBS' fingerprint sweat-based technology to enhance safety and compliance across its workforce. The system's simplicity, ease of use, and shorter detection window will enable Princebuild to conduct fast, reliable testing while respecting employees' personal lifestyles.
"By adopting Intelligent Bio Solutions fingerprint sweat-based system, we have transformed our approach to workplace testing," said Cheryl Browne, Human Resources Support Manager at Princebuild. "We wanted a method that ensured safety in our workplace without feeling like we were policing our employees' lifestyles. The simplicity and efficiency of this solution aligns with our company values."
Princebuild joins other leading construction companies that utilize INBS’ innovative drug-testing technology, including Mount Anvil, Hayfield Homes, Stonbury, MBP Structures, and PJ Hegarty & Sons U.K. Ltd. These companies employ INBS’ technology to proactively address substance misuse in the workplace by focusing on ensuring employees are fit for duty at the time of testing.
INBS’ Intelligent Fingerprinting Drug Screening System allows organizations to implement an accurate and efficient testing protocol that meets the needs of the modern workforce. With its ability to detect multiple substances simultaneously and provide rapid results, the system eliminates many challenges associated with traditional testing methods, allowing businesses like Princebuild to focus on cultivating safer, more productive workplaces.
The Company has over 400 accounts across 19 countries. Its Drug Testing Solution is currently being utilized across multiple industries, including construction, mining, manufacturing and engineering, transport and logistics, drug treatment, law enforcement, and forensics. With recent FDA 510(k) submission in December of 2024 and entry into the US market planned for the first half of calendar year 2025, INBS is capitalizing on the rapidly growing drug screening products market.
About Princebuild
Princebuild Limited has cared for, maintained, and built properties since 1971. The company specializes in delivering diverse construction services through six key divisions: construction, small works, insurance, maintenance, building services, and commercial interiors. Over the years, Princebuild has expanded its operations to serve the entire East of England and provides national coverage for larger projects.
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
FAQ
When will INBS enter the US market following its FDA 510(k) submission?
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What advantages does INBS' fingerprint drug screening offer over saliva testing?
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