Intelligent Bio Solutions Inc. (INBS), a leading provider of rapid, non-invasive drug testing solutions, announced Tuesday a strategic partnership with IVY Diagnostics Srl to expand its presence in Europe and the Middle East.
Under the terms of the partnership, IVY Diagnostics will serve as a key distributor for INBS' Intelligent Fingerprinting Drug Testing Solution across these regions, focusing on drug rehabilitation and law enforcement applications.
This collaboration aims to capture a share of the growing European and Middle Eastern drug screening markets, which are expected to reach $3.6 billion and $432.7 million, respectively, by 2030, according to Grand View Research.
The partnership has already led to a significant breakthrough in Italy, where IVY Diagnostics has secured a tender to provide INBS' fingerprint-based drug testing technology for rehabilitation programs.
Additionally, the system is currently being trialed with the local police force in Turin, exploring its potential for roadside drug screening as a more efficient, non-invasive alternative to traditional testing methods.
The collaboration is expected to drive adoption of INBS' drug screening technology across multiple European markets, including Romania, Hungary, Slovakia, Austria, and Scandinavia, as well as key Middle Eastern markets like the UAE, Saudi Arabia, and Qatar.
"We are excited to work with IVY Diagnostics to introduce our innovative drug screening solution to these critical regions," said Doug Heath, Vice President of Global Sales at INBS. "Their extensive network and expertise will help us unlock new opportunities and drive the adoption of our non-invasive, rapid testing technology in drug rehabilitation and law enforcement sectors."
The partnership further strengthens INBS' position in the growing drug screening market, aligning with the company's mission to provide safer, faster, and more accessible testing solutions worldwide.
Currently, INBS is trading at $1.49 up by 5.67%.
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