Intelligent Bio Solutions Inc. Announces QabasTech as Exclusive Distributor in Saudi Arabia
July 24 2024 - 8:30AM
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
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