Intelligent Bio Solutions Completes In-Clinic Portion of Pharmacokinetic (PK) Study Part of 510(k) Pathway for Approval & Commences Review of Results
28 June 2024 - 10:30PM
Intelligent Bio Solutions Inc. (Nasdaq: INBS) ("INBS" or the
"Company"), a medical technology company delivering intelligent,
rapid, non-invasive testing solutions, today announced the
successful completion of the in-clinic portion of its
pharmacokinetic (PK) study, a core component of the Company's
clinical study plan for its 510(k) pathway for regulatory approval.
Dosing and sampling of the second cohort for the
study concluded on Thursday, June 27, 2024, marking the completion
of this phase and the end of the in-clinic portion of the study.
The PK study aims to demonstrate that the Company's fingerprint
sweat collection method provides results comparable to those from
other specimen matrices, such as blood, saliva, and urine.
"Thanks to the smooth execution of subject
dosing and sampling by our clinical research partner, Cliantha
Research, we have completed this portion of our PK study according
to the planned schedule. We are now focused on analyzing the test
results and compiling the data to finalize the report and complete
the study," commented Peter Passaris, Vice President of Product
Development at INBS.
The specimens are currently being analyzed using
validated, traceable liquid chromatography/mass spectrometry
(LC-MS) methods. The subsequent data analysis from the PK trial
will compare the detection of opiates in fingerprint sweat versus
blood, saliva, and urine specimens. The Company expects to complete
the full PK study in the third calendar quarter of 2024.
INBS' first-of-its-kind fingerprint drug
screening technology uses fingerprint sweat to provide a quick,
hygienic, and easy-to-use method for drug testing, delivering
results in just minutes. This unique approach tests for common
drugs of abuse, including cocaine, cannabis, methamphetamine, and
opiates.
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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