Intelligent Bio Solutions Inc. Announces QabasTech as Exclusive Distributor in Saudi Arabia
Intelligent Bio Solutions Inc. (Nasdaq: INBS) has announced QabasTech as its exclusive distributor in Saudi Arabia. This partnership aligns with INBS's growth strategy and Saudi Arabia's infrastructure projects and public safety initiatives. QabasTech, a leading technology provider in the country, will drive the adoption of INBS's innovative drug screening solution.
The collaboration aims to address Saudi Arabia's urgent need for effective drug abuse prevention methods. INBS's Intelligent Fingerprinting Drug Screening System is expected to support safety and security efforts across various sectors, including government, military, police, and drug rehabilitation centers. This move comes as Saudi Arabia intensifies its crackdown on drugs, presenting significant market opportunities for INBS.
Intelligent Bio Solutions Inc. (Nasdaq: INBS) ha annunciato QabasTech come suo distributore esclusivo in Arabia Saudita. Questa partnership è in linea con la strategia di crescita di INBS e i progetti infrastrutturali e le iniziative per la sicurezza pubblica dell'Arabia Saudita. QabasTech, un importante fornitore tecnologico nel paese, guiderà l'adozione della soluzione innovativa di screening dei farmaci di INBS.
La collaborazione mira a rispondere all'urgente bisogno dell'Arabia Saudita di metodi efficaci per la prevenzione dell'abuso di sostanze. Si prevede che il Sistema di Screening dei Farmaci mediante Impronte Intelligenti di INBS supporti gli sforzi per la sicurezza in vari settori, tra cui governo, esercito, polizia e centri di riabilitazione per tossicodipendenti. Questa scelta arriva mentre l'Arabia Saudita intensifica la sua lotta contro la droga, offrendo significative opportunità di mercato per INBS.
Intelligent Bio Solutions Inc. (Nasdaq: INBS) ha anunciado a QabasTech como su distribuidor exclusivo en Arabia Saudita. Esta asociación se alinea con la estrategia de crecimiento de INBS y los proyectos de infraestructura e iniciativas de seguridad pública de Arabia Saudita. QabasTech, un proveedor líder de tecnología en el país, impulsará la adopción de la innovadora solución de detección de drogas de INBS.
La colaboración tiene como objetivo abordar la urgente necesidad de Arabia Saudita de métodos efectivos para la prevención del abuso de drogas. Se espera que el Sistema de Detección de Drogas por Huellas Dactilares Inteligentes de INBS apoye los esfuerzos de seguridad en varios sectores, incluidos el gobierno, el ejército, la policía y los centros de rehabilitación de drogas. Este movimiento se produce mientras Arabia Saudita intensifica su lucha contra las drogas, presentando oportunidades de mercado significativas para INBS.
Intelligent Bio Solutions Inc. (Nasdaq: INBS)는 QabasTech를 사우디 아라비아의 독점 유통업체로 발표했습니다. 이 파트너십은 INBS의 성장 전략과 사우디 아라비아의 인프라 프로젝트 및 공공 안전 이니셔티브와 일치합니다. 이 나라의 선도적인 기술 공급업체인 QabasTech는 INBS의 혁신적인 약물 스크리닝 솔루션의 채택을 촉진할 것입니다.
이번 협력은 사우디 아라비아의 긴급한 약물 남용 예방 필요에 대응하는 것을 목표로 하고 있습니다. INBS의 지능형 지문 약물 스크리닝 시스템은 정부, 군대, 경찰 및 약물 재활 센터 등 다양한 분야에서 안전하고 보안 기반의 노력을 지원할 것으로 기대됩니다. 이번 조치는 사우디 아라비아가 마약 단속을 강화함에 따라 INBS에 대한 상당한 시장 기회를 제공하고 있습니다.
Intelligent Bio Solutions Inc. (Nasdaq: INBS) a annoncé QabasTech comme son distributeur exclusif en Arabie Saoudite. Ce partenariat s'inscrit dans la stratégie de croissance d'INBS ainsi que dans les projets d'infrastructure et les initiatives de sécurité publique de l'Arabie Saoudite. QabasTech, un fournisseur de technologie de premier plan dans le pays, va stimuler l'adoption de la solution innovante de dépistage des drogues d'INBS.
Cette collaboration vise à répondre au besoin urgent de l'Arabie Saoudite de méthodes efficaces de prévention de l'abus de drogues. Le Système de Dépistage des Drogues par Empreinte Intelligente d'INBS devrait soutenir les efforts de sécurité dans divers secteurs, y compris le gouvernement, l'armée, la police et les centres de réhabilitation des toxicomanes. Ce mouvement intervient alors que l'Arabie Saoudite intensifie sa lutte contre la drogue, offrant des opportunités de marché significatives pour INBS.
Intelligent Bio Solutions Inc. (Nasdaq: INBS) hat QabasTech als exklusiven Distributor in Saudi-Arabien bekannt gegeben. Diese Partnerschaft passt zur Wachstumsstrategie von INBS sowie zu den Infrastrukturprojekten und Initiativen zur öffentlichen Sicherheit in Saudi-Arabien. QabasTech, ein führender Technologieanbieter im Land, wird die Einführung der innovativen Arzneimittel-Screening-Lösung von INBS vorantreiben.
Die Zusammenarbeit zielt darauf ab, dem dringenden Bedarf Saudi-Arabiens an effektiven Methoden zur Drogenmissbrauchsprävention gerecht zu werden. Es wird erwartet, dass das Intelligente Fingerabdruck-Drogen-Screening-System von INBS die Sicherheits- und Sicherheitsanstrengungen in verschiedenen Sektoren, darunter Regierung, Militär, Polizei und Drogenrehabilitationszentren, unterstützt. Dieser Schritt erfolgt, während Saudi-Arabien seine Bekämpfung von Drogen intensiviert und bedeutende Marktchancen für INBS bietet.
- Exclusive distribution agreement with QabasTech in Saudi Arabia
- Expansion into a market with significant drug screening opportunities
- Alignment with Saudi Arabia's public safety initiatives and infrastructure projects
- Potential for increased adoption in government, military, police, and rehabilitation sectors
- None.
Insights
The partnership between Intelligent Bio Solutions Inc. (INBS) and QabasTech in Saudi Arabia is significant given the current market dynamics and regulatory environment in the region. Saudi Arabia's crackdown on drugs creates a conducive environment for INBS's drug screening technology. The exclusive distribution agreement means that QabasTech will play a important role in penetrating the market. This agreement could enable INBS to capture a substantial market share in the region, leveraging QabasTech's local expertise and reputation. From a market perspective, this move positions INBS to benefit from the country’s ongoing initiatives to enhance public safety and security. The collaboration could potentially lead to increased revenue streams for INBS and contribute to its market expansion strategy.
INBS's Intelligent Fingerprinting Drug Screening System offers a non-invasive, rapid testing solution, which could transform drug screening protocols in Saudi Arabia. The technology's ability to provide quick and reliable results is essential in high-stakes environments like government, military and law enforcement. Given the urgency of drug-related issues highlighted by recent government actions, the adoption of such technology could significantly improve operational efficiency and public safety. This partnership not only enhances the credibility of INBS's technology but also demonstrates its applicability in diverse markets, potentially opening up further international opportunities.
From a financial perspective, this exclusive distribution agreement could be a catalyst for INBS's stock performance. Partnerships like this can drive revenue growth and improve market valuation. The Saudi Arabian market represents a lucrative opportunity due to its size and the government’s active stance on drug control. Investors should note that successful implementation and uptake of INBS's drug screening system could lead to significant financial gains. However, it's important to monitor subsequent quarterly earnings reports to assess the actual financial impact of this partnership. Additionally, any regulatory approvals or compliance hurdles within the Saudi market should be considered as potential risks.
NEW YORK, July 24, 2024 (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 QabasTech (“Qabas”) as its exclusive distributor in Saudi Arabia. This partnership marks further growth for INBS in the country, aligning with its ambitious infrastructure projects and commitment to improving public safety.
Qabas is a leading technology provider in Saudi Arabia with a strong reputation for providing high-quality products and services across various sectors. With a deep understanding of the local market and a commitment to excellence, Qabas is well-positioned to drive the adoption of INBS' innovative drug screening solution in the country.
"We are very pleased to partner with Qabas as our exclusive distributor in Saudi Arabia," said Harry Simeonidis, President and CEO at INBS. "This collaboration will enable us to bring our innovative drug screening solution to a market actively seeking effective methods to combat drug abuse. Our Intelligent Fingerprinting Drug Screening System will support Saudi Arabia's efforts to maintain safety and security across various sectors."
In recent years, the Saudi Arabian government has launched strict crackdowns on drugs, resulting in numerous arrests and seizures, highlighting the urgency of addressing drug-related issues within the country. The drug screening market in Saudi Arabia presents significant opportunities for INBS, particularly in sectors such as government, military, police, and drug rehabilitation centers.
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 various indications, ranging from immunological conditions to 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: 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
What is the new distribution agreement for Intelligent Bio Solutions Inc. (INBS) in Saudi Arabia?
How does the INBS-QabasTech partnership align with Saudi Arabia's initiatives?
What potential market opportunities does INBS see in Saudi Arabia for its drug screening technology?
What is the main product INBS will be distributing through QabasTech in Saudi Arabia?
