Intelligent Bio Solutions Inc. - INBS STOCK NEWS

Intelligent Bio Solutions Inc. (Nasdaq: INBS) has announced its collaboration with Dodman Limited, a UK manufacturer, to implement the Intelligent Fingerprinting Drug Screening System for workplace drug testing. This system offers a non-invasive alternative to traditional urine tests by analyzing fingerprint sweat samples. It enables quick on-site testing, yielding results in under ten minutes. Dodman aims to enhance its health and safety reputation by proactively introducing random drug testing across its operations.

Dodman's Health and Safety Manager, Chris Davies, emphasized the benefits of this approach, noting improved safety and differentiation in the market. Intelligent Bio Solutions recognizes the increasing importance of drug testing for employee safety and offers an innovative solution that is both efficient and accurate.

Intelligent Bio Solutions Inc. (Nasdaq: INBS) has been granted its 13th patent in the UK for its Intelligent Fingerprinting Drug Screening System DSR-Plus Cartridge Reader. This patent enhances the protection of the company’s proprietary drug screening technology, focusing on its lateral flow test strip reading capability. The DSR-Plus reader enables fast and accurate drug testing using fingerprint sweat analysis, with results in under ten minutes. The portable unit is designed for resilience and improved battery life, making it suitable for various organizations. The technology aims to help employers deter workplace drug abuse, with applications in safety-critical industries including construction and logistics. CEO Harry Simeonidis highlighted the patent's importance in expanding their international business and strengthening their intellectual property portfolio.

Intelligent Bio Solutions Inc. (Nasdaq: INBS) has partnered with A & F Sprinklers, a UK fire protection specialist, to enhance its random drug testing capabilities using INBS’s Intelligent Fingerprinting Drug Screening System. This upgrade has nearly tripled the productivity of A & F Sprinklers' HR team in conducting drug screenings. The system analyzes fingerprint sweat for various drugs, providing quick results and promoting workplace safety. The portable unit allows for flexible testing across different locations, reinforcing health and safety policies. INBS aims to expand its non-invasive testing solutions across multiple industries.

Intelligent Bio Solutions Inc. (Nasdaq: INBS) has chosen Human and Supplement Testing Australia (HASTA) as its preferred lab for drug testing, focusing on the Intelligent Fingerprinting System that effectively detects drug use through fingerprint sweat. This system tests for four key substances, including opiates and THC, in under ten minutes. CEO Harry Simeonidis emphasized the significance of this partnership for expanding their testing service in Australia, supporting workplace safety. HASTA is recognized as Australia's largest independent sports drug testing lab, ensuring high-quality testing standards.

Intelligent Bio Solutions Inc. (Nasdaq: INBS) announced the closing of its public offering of 654,990 shares of common stock and warrants for 196,497 additional shares, priced at $3.90 per share. The offering generated approximately $2.55 million in gross proceeds after the underwriter's full exercise of its option for additional shares. The offering was conducted under a shelf registration statement effective since April 2022. This capital raise aims to support the company's development of non-invasive diagnostic testing solutions, particularly through its recent acquisition of Intelligent Fingerprinting Limited.

Intelligent Bio Solutions (Nasdaq: INBS) announced the pricing of a public offering of 569,560 shares and warrants for 170,868 shares at $3.90 per share, aiming for gross proceeds of approximately $2.2 million. The warrants are exercisable immediately at the same price and will expire in five years. The offering, managed by Ladenburg Thalmann, includes a 45-day option for the underwriter to purchase additional shares and warrants. The net proceeds are intended for working capital and corporate purposes. The offering is based on a shelf registration effective since April 2022.