Intelligent Bio Solutions Announces Adoption of its Non-Invasive Drug Screening Solution by Global Engineering Leader, Pyrotek
Intelligent Bio Solutions Inc. (Nasdaq: INBS) has announced that Pyrotek Pty , a global engineering solutions leader, has adopted INBS' non-invasive Intelligent Fingerprinting Drug Testing Solution across its Australian branches. This transition from traditional saliva testing to INBS' fingerprint sweat-based method will enhance workplace safety protocols, minimize downtime, and deliver faster, more cost-effective results.
Pyrotek, with operations in over 35 countries and more than 3,000 employees, can now conduct in-house drug screening tests for its entire workforce, reducing reliance on external providers. The company plans to expand INBS' solution across its Australian locations after initial implementation in Sydney.
INBS is preparing for FDA 510(k) submission in Q4 2024 and aims to enter the US market in the first half of 2025, targeting a drug screening products market with an estimated Total Addressable Market of ~$15 billion by 2030.
Intelligent Bio Solutions Inc. (Nasdaq: INBS) ha annunciato che Pyrotek Pty, leader globale nelle soluzioni ingegneristiche, ha adottato la soluzione di test per droghe tramite fingerprinting non invasivo di INBS presso le sue filiali australiane. Questa transizione dai tradizionali test salivari al metodo basato sul sudore delle impronte digitali di INBS migliorerà i protocolli di sicurezza sul lavoro, ridurrà i tempi di inattività e fornirà risultati più rapidi ed economici.
Pyrotek, con operazioni in oltre 35 paesi e più di 3.000 dipendenti, può ora effettuare test di screening per droghe interni per l'intera forza lavoro, riducendo la dipendenza dai fornitori esterni. L'azienda prevede di espandere la soluzione di INBS nelle sue sedi australiane dopo l'implementazione iniziale a Sydney.
INBS si sta preparando per la presentazione del 510(k) FDA nel quarto trimestre del 2024 e mira ad entrare nel mercato statunitense nella prima metà del 2025, puntando a un mercato dei prodotti di screening per droghe con un Mercato Totale Indirizzabile stimato di circa 15 miliardi di dollari entro il 2030.
Intelligent Bio Solutions Inc. (Nasdaq: INBS) ha anunciado que Pyrotek Pty, líder mundial en soluciones de ingeniería, ha adoptado la solución de prueba de drogas mediante huellas digitales no invasiva de INBS en sus sucursales australianas. Esta transición de las pruebas de saliva tradicionales al método de sudor de huella dactilar de INBS mejorará los protocolos de seguridad laboral, minimizará el tiempo de inactividad y ofrecerá resultados más rápidos y rentables.
Pyrotek, que opera en más de 35 países y cuenta con más de 3,000 empleados, ahora puede realizar pruebas de detección de drogas internas para toda su fuerza laboral, reduciendo la dependencia de proveedores externos. La empresa planea expandir la solución de INBS a sus ubicaciones en Australia después de la implementación inicial en Sídney.
INBS se está preparando para la presentación 510(k) a la FDA en el cuarto trimestre de 2024 y tiene como objetivo ingresar al mercado estadounidense en la primera mitad de 2025, apuntando a un mercado de productos de detección de drogas con un Mercadeo Total Estimado de aproximadamente $15 mil millones para 2030.
인텔리전트 바이오 솔루션스 인크. (Nasdaq: INBS)는 Pyrotek Pty, 글로벌 엔지니어링 솔루션의 선두주자가 INBS의 비침습적인 지문 약물 검사 솔루션을 호주 지사에 도입했다고 발표했습니다. 기존의 타액 검사에서 INBS의 지문 땀 기반 방법으로 전환함으로써 직장 안전 프로토콜을 강화하고 다운타임을 최소화하며 더 빠르고 비용 효율적인 결과를 제공할 것입니다.
35개국 이상에서 운영되고 3,000명 이상의 직원을 보유한 Pyrotek은 이제 전체 직원에 대해 내부 약물 검사를 실시할 수 있어 외부 공급자에 대한 의존도를 줄이고 있습니다. 회사는 시드니에서 초기 구현 후 호주 내 지역으로 INBS의 솔루션을 확장할 계획입니다.
INBS는 2024년 4분기에 FDA 510(k) 제출을 준비하고 있으며, 2025년 상반기에는 미국 시장에 진입할 것을 목표로 하고 있으며, 2030년까지 약 150억 달러의 총 주소able 시장을 목표로 하고 있습니다.
Intelligent Bio Solutions Inc. (Nasdaq: INBS) a annoncé que Pyrotek Pty, un leader mondial en solutions d'ingénierie, a adopté la solution de test de drogue par empreinte digitale non invasive d'INBS dans ses filiales australiennes. Cette transition des tests salivaires traditionnels vers la méthode par sudation des empreintes digitales d'INBS améliorera les protocoles de sécurité au travail, minimisera les temps d'arrêt et fournira des résultats plus rapides et plus rentables.
Pyrotek, avec des opérations dans plus de 35 pays et plus de 3 000 employés, peut désormais réaliser des tests de dépistage de drogues en interne pour l'ensemble de ses effectifs, réduisant ainsi sa dépendance aux fournisseurs externes. L'entreprise prévoit d'étendre la solution d'INBS à ses sites australiens après l'implémentation initiale à Sydney.
INBS se prépare pour la soumission 510(k) à la FDA au quatrième trimestre 2024 et vise à entrer sur le marché américain au cours de la première moitié de 2025, visant un marché des produits de dépistage de drogues avec un marché total adressable estimé à environ 15 milliards de dollars d'ici 2030.
Intelligent Bio Solutions Inc. (Nasdaq: INBS) hat angekündigt, dass Pyrotek Pty, ein globaler Marktführer in Ingenieurlösungen, die nicht-invasive Lösung zur Drogenüberprüfung durch Fingerabdrücke von INBS in seinen australischen Niederlassungen übernommen hat. Dieser Übergang von traditionellen Speicheltests zur schweißbasierten Fingerabdruckmethode von INBS wird die Arbeitssicherheitsprotokolle verbessern, Ausfallzeiten minimieren und schnellere, kosteneffizientere Ergebnisse liefern.
Pyrotek, das in über 35 Ländern tätig ist und mehr als 3.000 Mitarbeiter beschäftigt, kann nun interne Drogenscreening-Tests für seine gesamte Belegschaft durchführen und so die Abhängigkeit von externen Anbietern verringern. Das Unternehmen plant, die Lösung von INBS nach der ersten Implementierung in Sydney an seinen australischen Standorten auszubauen.
INBS bereitet sich auf die FDA 510(k) Einreichung im vierten Quartal 2024 vor und plant, in der ersten Hälfte des Jahres 2025 in den US-Markt einzutreten, mit einem anvisierten Markt für Drogenscreening-Produkte mit einem geschätzten Gesamtadressierbaren Markt von etwa 15 Milliarden USD bis 2030.
- Adoption of INBS' drug testing solution by a global engineering leader, Pyrotek
- Expansion of customer base in the Australian market
- Planned FDA 510(k) submission in Q4 2024
- Targeting entry into the US market in H1 2025
- Addressing a drug screening products market with estimated TAM of ~$15 billion by 2030
- None.
Insights
The adoption of INBS' non-invasive drug screening solution by Pyrotek, a global engineering leader, represents a significant win for Intelligent Bio Solutions. This partnership showcases the market potential and practical applications of INBS' technology in workplace safety protocols.
Key points to consider:
- Pyrotek's global presence (35+ countries, 3,000+ employees) provides a substantial platform for INBS to demonstrate its product's effectiveness.
- The transition from saliva testing to fingerprint sweat-based screening indicates a shift in industry preferences towards more efficient and less invasive methods.
- INBS' solution addresses critical pain points: minimizing downtime, reducing reliance on external providers and enabling more frequent, comprehensive testing.
- The planned expansion across Pyrotek's Australian locations suggests strong initial satisfaction and potential for further market penetration.
With FDA 510(k) submission planned for Q4 2024 and US market entry targeted for H1 2025, INBS is positioning itself to capitalize on the projected
Transition will Minimize Downtime, Deliver Faster, More Cost-Effective Results, and Improve Overall Safety and Productivity
NEW YORK, Oct. 14, 2024 (GLOBE NEWSWIRE) -- Intelligent Bio Solutions Inc. (Nasdaq: INBS) ("INBS" or the "Company"), a medical technology company offering non-invasive, rapid testing solutions, today announced the addition of Pyrotek Pty Ltd (“Pyrotek”), to its customer base. Pyrotek is a global leader in engineering solutions. By adopting INBS’ Intelligent Fingerprinting Drug Testing Solution across its Australian branches, Pyrotek will enhance its workplace safety protocols, shifting from traditional saliva testing to INBS’ faster, more efficient fingerprint sweat-based drug screening method.
Pyrotek is a team of skilled global engineers and technical manufacturing experts working to serve industry partners, with operations in more than 35 countries and over 3,000 people strong. In Australia, Pyrotek's primary focus is Acoustic and Thermal, while globally providing specialized solutions for aluminum, glass, steel, zinc, and advanced materials.
Pyrotek previously conducted drug testing every three to six months, relying on an external provider to screen a limited number of employees. With INBS’ Intelligent Fingerprinting Drug Screening System, Pyrotek can now conduct drug screening tests in-house, enabling on-site testing for the entire workforce. The transition to INBS’ more efficient system minimizes operational downtime, reduces reliance on third-party scheduling, and delivers faster, more cost-effective results, improving overall productivity.
"At Pyrotek, the safety of our employees is paramount,” said Pyrotek Sydney Site Manager. “Integrating Intelligent Bio Solutions’ drug screening system allows us to strengthen our current safety protocols in a highly efficient and non-invasive manner."
Pyrotek plans to expand INBS’ innovative drug testing solution across its Australian locations after initial implementation at its main branch in Sydney, reinforcing its commitment to a safety-focused workplace culture.
With FDA 510(k) submission planned in the fourth quarter of this year and entry into the US market planned for the first half of 2025, INBS is capitalizing on the growing drug screening products market, estimated to have a Total Addressable Market of ~
About Intelligent Bio Solutions Inc.
Intelligent Bio Solutions Inc. (NASDAQ: INBS) is a medical technology company delivering innovative, rapid, non-invasive testing solutions to more than 400 customers in 19 countries. 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 include construction, manufacturing and engineering, transport and logistics firms, drug treatment organizations, and coroners.
For more information, visit: http://www.ibs.inc/
About Pyrotek
Pyrotek is a leading manufacturer of acoustic and thermal materials that aims to improve performance. With over 50 years of industry experience, integrated systems, design expertise, global resources and dependable local support in more than 35 countries with over 80 locations, Pyrotek is committed to safety, performance, and compliance with international regulations. Pyrotek products and solutions are applied in various industries worldwide, such as automotive, aerospace, rail transportation, and high-tech manufacturing. Privately owned since 1956, the deep-rooted values of integrity and collaborative problem-solving uphold their mission to provide innovative solutions to customer needs utilizing global resources.
For more information, visit: http://www.pyroteknc.com
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
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Investor & Media Contact:
Valter Pinto, Managing Director
KCSA Strategic Communications
PH: (212) 896-1254
INBS@kcsa.com
FAQ
What is the new drug testing solution adopted by Pyrotek from Intelligent Bio Solutions (INBS)?
How will INBS' drug testing solution benefit Pyrotek?
When does Intelligent Bio Solutions (INBS) plan to submit for FDA 510(k) approval?
What is the estimated Total Addressable Market for drug screening products by 2030, according to INBS?
