Zinger Key Points
- Intelligent Bio Solutions secured its sixth U.S. patent for its fingerprint drug screening cartridge.
- The new patent covers the lateral flow test strip used in INBS’s Drug Screening Cartridge.
- Markets are swinging wildly, but for Matt Maley, it's just another opportunity to trade. His clear, simple trade alerts have helped members lock in gains as high as 100% and 450%. Now, you can get his next trade signal—completely free.
Intelligent Bio Solutions Inc. INBS announced on Wednesday that it received a patent in the United States relating to its Intelligent Fingerprinting Drug Screening Cartridge.
This is the company's sixth active patent to be granted in the U.S., strengthening the protection of its unique and proprietary drug screening technology.
U.S. Patent (12259385) relates to the proprietary lateral flow test strip inside the company's Drug Screening Cartridge.
The patent is fundamental to the company's testing system, which uses lateral flow technology to detect drugs in fingerprint sweat.
This latest patent enhances the company's U.S. intellectual property portfolio, including patents covering Intelligent Bio Solutions' Sample Collection Cartridge, cartridge housing, and buffer clip design.
"The intellectual property landscape for lateral flow devices in the U.S. is mature, making the grant of this patent a strong validation of our innovative technology," said Harry Simeonidis, President and CEO at Intelligent Bio Solutions.
"The U.S. is a key market for us, and securing broad intellectual property protection strengthens our competitive position as we plan for entry into this multi-billion dollar market in 2025."
The company's Intelligent Fingerprinting Drug Testing Solution uses fingerprint sweat analysis to detect common drugs of abuse.
On Tuesday, Intelligent Bio Solutions provided a status update on the FDA clearance process for its Intelligent Fingerprint Drug Screening System, which remains on track for launch in the U.S. in 2025, targeting its opiate test system for codeine.
The FDA has reviewed and issued an Additional Information request. If additional data is required, the FDA clearance process may take three to six months or longer.
Price Action: At the last check on Wednesday, INBS stock was down 0.57% at $1.75 during the premarket session.
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