Core Insights - Intelligent Bio Solutions Inc. (INBS) has strengthened its presence in Europe and the Middle East through a partnership with IVY Diagnostics, focusing on the adoption of its Intelligent Fingerprinting Drug Testing Solution in drug rehabilitation and law enforcement applications [1][4] Company Overview - Intelligent Bio Solutions Inc. is a medical technology company that provides rapid, non-invasive testing solutions, particularly through its Intelligent Fingerprinting Drug Screening System, which analyzes fingerprint sweat for drug use [7][8] - The system is designed to be hygienic and cost-effective, screening for drugs commonly found in workplaces, with results available in under ten minutes [7] Market Potential - The European drug screening market is projected to reach 432.7 million, highlighting the strategic importance of INBS' partnership with IVY Diagnostics [2] - The collaboration with IVY Diagnostics allows INBS to leverage an extensive network of distributors across key regions, including Romania, Hungary, Slovakia, Austria, and Scandinavia, as well as targeting markets in the UAE, Saudi Arabia, and Qatar [4] Partnership Details - IVY Diagnostics has secured a tender to provide INBS' drug screening technology for drug rehabilitation programs in Italy, emphasizing the non-invasive and rapid nature of the solution [3] - The drug screening system is also undergoing trials with local police in Turin to assess its effectiveness in roadside screening initiatives [3] Strategic Importance - The partnership with IVY Diagnostics is crucial for introducing INBS' technology to new markets and industries, with IVY's expertise in regulatory landscapes and connections enhancing INBS' market penetration efforts [5]
Intelligent Bio Solutions Partners with IVY Diagnostics to Expand in Europe’s $3.6 Billion Drug Screening Market and in Middle Eastern Regions