NEW YORK, Nov. 30, 2023 (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 Titan Cranes and Rigging Pty Ltd. ("Titan") has adopted the Company's unique Intelligent Fingerprinting Drug Screening System.
Since 2001, Titan has secured its spot as Australasia’s leading specialist material handling company, providing state-of-the-art lifting equipment and labor to the country’s largest construction projects. Australia’s construction industry is a key economic driver and employer for approximately 9.6% of workers1. The industry generates over $360 billion in annual revenue, producing about 9% of Australia’s gross domestic profit2. Titan has adopted INBS’ system across its operations as a new screening solution for its 350-plus employees.
The Intelligent Fingerprinting Drug Screening System is a fast and accurate testing solution that utilizes fingerprint sweat to screen for specific drugs of abuse and provide results within minutes. A small tamper-proof cartridge collects the sweat samples, which are then analyzed by a reader to determine if an employee is fit for duty. The Company’s comprehensive solution also includes a lab-based confirmation service for non-negative on-site test results.
Harry Simeonidis, President and Chief Executive Officer at Intelligent Bio Solutions, said, “Our drug screening product’s reputation is growing globally as a sound and reliable screening solution. We’re pleased to see our system being implemented by Titan as a non-invasive, clean, fast screening test, providing quick on-site results and supporting operational efficiency. We’re motivated to expand our reach further within the construction industry and assist more companies with mitigating drug use and potential impairment at work.”
An introductory video demonstrating the Intelligent Fingerprinting Drug Screening System is available here.
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 up to 130 indications, ranging from glucose to immunological conditions and communicable diseases. The Company's current customer segments include construction, manufacturing and engineering, transport and logistics firms, drug treatment organizations, and coroners.
For more information, visit: https://ibs.inc/
About Titan Cranes and Rigging Pty Ltd.
Titan Cranes and Rigging Pty Ltd is a privately owned and operated Australian company. Established in 2001, the company has become a market leader for specialist material handling within the Australasian region. The core business for Titan Cranes and Rigging Pty Ltd is to provide specialist lifting equipment and personnel to construction projects. Its primary service is the delivery of tower cranes & hoists over a wide range of industries including government, residential, infrastructure, mining and commercial sectors. Titan is guided by its company vision, which is to always strive for business integrity, quality of service, a safe workplace, relationships management and commitment to each and every project.
For more information, visit: https://titancranes.com.au/
Forward-Looking Statements:
Some of the statements in this press 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. 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.
New York Office: #646-790-5756
info@ibs.inc
LinkedIn | Twitter
Investor Relations:
Valter Pinto, Managing Director
KCSA Strategic Communications
#(212) 896-1254
INBS@kcsa.com
Media Contact:
Cheryl Billson
Comma Communications
cheryl.billson@commacomms.com
1https://labourmarketinsights.gov.au/industries/industry-details?industryCode=E
2https://www.mordorintelligence.com/industry-reports/australia-construction-market
