UK’s largest independent chemical manufacturer takes drug testing in-house with Intelligent Fingerprinting Drug Screening System
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Insights
The integration of Intelligent Bio Solutions Inc.'s drug screening technology by Robinson Brothers represents a strategic move in the realm of workplace safety and compliance. This collaboration illustrates a growing trend where companies are seeking innovative solutions to enhance their operational efficiency and risk management protocols. The adoption of such technology can potentially reduce downtimes and costs associated with traditional drug testing methods, which often disrupt workplace productivity and employee privacy.
From a market perspective, this partnership could signal a broader acceptance of non-invasive testing technologies, which may influence the stock performance of medical technology firms like INBS. Investors in the medical technology sector often look for signs of product adoption and market penetration as indicators of a company's growth potential. The use case presented by Robinson Brothers could serve as a proof of concept, encouraging other manufacturing firms to follow suit, thus expanding the market for INBS's product.
Intelligent Bio Solutions Inc.'s announcement of their product's adoption by a significant player in the chemical manufacturing industry could have a material impact on the company's financials. The ability to secure contracts with industrial clients like Robinson Brothers may lead to increased revenue streams and improved profit margins. This is particularly relevant for INBS, as expanding into the industrial sector could diversify their customer base beyond the healthcare and law enforcement sectors traditionally associated with drug testing.
Investors will likely monitor the financial implications of this deal, such as changes in revenue forecasts, cost of sales and the potential for recurring income if the technology becomes an industry standard. It's also crucial to consider the scalability of INBS's production capabilities to meet potential demand surges, which can affect the stock's valuation.
The adoption of INBS's drug screening system by Robinson Brothers touches on legal aspects concerning workplace drug testing policies. It exemplifies how companies are navigating the balance between maintaining a safe work environment and respecting employee privacy. The shift to a less intrusive, rapid testing method could set a precedent for industry standards, potentially influencing future legislation or workplace regulations.
For stakeholders, it's important to evaluate the legal implications of such technologies, including compliance with labor laws and potential liability issues. As workplace safety is heavily regulated, especially in the chemical manufacturing industry, the legal endorsement of non-invasive testing methods could bolster the market position of companies like INBS, provided they maintain adherence to regulatory standards.
NEW YORK, Jan. 18, 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 that Robinson Brothers, one of the UK’s largest independent chemical manufacturers, is now using its revolutionary portable Intelligent Fingerprinting Drug Screening System to support its drug and alcohol testing policy.
Robinson Brothers runs a 24x7 chemical manufacturing operation at its West Bromwich facility. The company’s HR team found that its previously outsourced drug testing provision was not responsive enough to support its requirements. Adopting the Intelligent Fingerprinting Drug Screening System will allow Robinson Brothers to bring drug testing in-house, with its portability, flexibility and ease-of-use enabling random testing across the business and for cause tests wherever and whenever needed.
“We previously used an external provider to carry out urine-based drug testing on a random basis. This was not only unhygienic and intrusive for everyone involved, but also invariably led to productivity delays as people sat around waiting to be tested,” explained Steve Doyle, Human Resources Manager at Robinson Brothers. “However, when we found out about fingerprint-based drug screening, we immediately saw how we could conduct our own testing in-house and in a much less invasive way. Additionally, because the system is so portable and easy to use, it works as an on-site visual deterrent and provides a great way of supporting our Drug and Alcohol Policy across the business.”
“From our initial cost analysis, we see fingerprint-based drug screening as highly cost-effective,” added Steve. “Including the initial capital costs of the DSR-Plus drug screening cartridge reader, we estimate that Intelligent Fingerprinting will allow us to conduct the same volume of tests at around half the cost. This, of course, becomes even more competitive as capital costs are written down.”
“As a 24/7 manufacturing operation, Robinson Brothers clearly appreciated the flexibility that sweat-based drug testing provides, giving the HR team the ability to screen employees whenever they need to,” added Harry Simeonidis, President and Chief Executive Officer at Intelligent Bio Solutions. “What’s clear is that our portable, non-invasive system takes the complexity out of workplace drug testing and is increasingly replacing traditional workplace testing methods using urine and saliva.”
An introductory video demonstrating fingerprint-based drug testing in action is available here.
About Intelligent Bio Solutions Inc.
Intelligent Bio Solutions Inc. (the “Company”) (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. This hygienic and cost-effective system is designed to screen 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: www.ibs.inc
About Robinson Brothers
Founded in 1869, Robinson Brothers is one of the UK’s largest independent chemical manufacturers, offering contract research and manufacture as well as a significant number of its own in-house developed molecules. The company operates across a number of markets, including pharmaceutical, agrochemical, flavour and flagrance, personal care, adhesives and coatings, and specialised polymer additives. Core competencies include high-pressure hydrogenation, carbon disulfide chemistry, amination, bromination, thiolation, heterocyclic chemistry, dehydrogenation and oxidation. Robinson Brothers also offers its own Robac Technology range that focuses specifically on chemicals used in dry and wet rubber applications, plus additional polymer additives.
For more information, visit www.robinsonbrothers.co.uk
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, 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
Media Contact:
Cheryl Billson, Comma Communications
cheryl.billson@commacomms.com
+44 (0)7791 720460
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