Intelligent Bio Solutions (NASDAQ: INBS), a medical tech firm specializing in non-invasive testing, has signed a global distribution agreement with SMARTOX(R) to introduce the SmarTest Patch drug detection product to markets outside the U.S. and Canada. The SmarTest Patch enables continuous, sweat-based drug monitoring and complements INBS’s fingerprint-based testing already distributed by SMARTOX in the U.S. forensic market. This move supports INBS’s international growth strategy and adds a new revenue stream as the global drug testing market heads toward $18.6 billion by 2030.
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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, drug treatment organizations, and coroners.
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