Intelligent Bio Solutions Inc
NASDAQ:INBS
Intelligent Bio Solutions Inc
GBS, Inc. operates as a biosensor diagnostic technology company. The company is headquartered in New York City, New York and currently employs 12 full-time employees. The company went IPO on 2020-12-23. The firm is developing non-invasive, real-time monitoring and diagnostic tests for patients and their primary health practitioners. The firm's Intelligent Bio Solutions is a biosensor platform, which is engaged in developing and launching diagnostic tests urgently needed to help people living with chronic diseases. The firm's subsidiary Intelligent Fingerprinting is engaged in the advancement of portable drugs of abuse testing through the analysis of fingerprint sweat. The test is non-invasive, and screens for recent use of opioids, cocaine, methamphetamines, benzodiazepines, and marijuana. The firm also offers laboratory confirmation services. The system has applications within many sectors in safety-critical industries such as construction, transport and logistics firms, drug treatment organizations, as well as the United Kingdom (UK) coroners.
GBS, Inc. operates as a biosensor diagnostic technology company. The company is headquartered in New York City, New York and currently employs 12 full-time employees. The company went IPO on 2020-12-23. The firm is developing non-invasive, real-time monitoring and diagnostic tests for patients and their primary health practitioners. The firm's Intelligent Bio Solutions is a biosensor platform, which is engaged in developing and launching diagnostic tests urgently needed to help people living with chronic diseases. The firm's subsidiary Intelligent Fingerprinting is engaged in the advancement of portable drugs of abuse testing through the analysis of fingerprint sweat. The test is non-invasive, and screens for recent use of opioids, cocaine, methamphetamines, benzodiazepines, and marijuana. The firm also offers laboratory confirmation services. The system has applications within many sectors in safety-critical industries such as construction, transport and logistics firms, drug treatment organizations, as well as the United Kingdom (UK) coroners.
Major Acquisition: Intelligent Bio Solutions completed its acquisition of Intelligent Fingerprinting Limited (IFP), building a broader platform for on-site diagnostic and substance testing.
Market Expansion: The company is targeting rapid geographic expansion, with plans to begin Australian sales in early 2023 and a focused push into the US market within two years.
Financial Position: Cash and equivalents stood at $5.74 million as of September 30, 2022, expected to fund operations into the first half of 2023.
Drug Testing Opportunity: The global drug testing market is estimated at $4.6 billion, with the US representing about 75%. IFP's platform is being positioned to access this market, pending FDA approval.
Manufacturing Progress: Construction of a new manufacturing facility in Australia is underway, supported by milestone-based government grants.
Product Pipeline: The biosensor for saliva-based glucose testing is moving forward with clinical studies, and additional applications such as cortisol testing are under evaluation.
