Intelligent Bio Solutions Inc. (Nasdaq: INBS) has announced a strategic partnership with Detecto, a division of Spanish distributor MTB Distribuciones Tecnologicas SL, to expand access to its fingerprint-based drug testing technology throughout Spain and Andorra. This collaboration aims to capitalize on Spain's growing drug testing market, which is projected to reach $448 million by 2030.
The partnership has already gained significant traction, with Detecto supplying INBS's technology to major Spanish clients including Metro Barcelona and one of Spain's largest mines operated by Rio Tinto. These accounts currently require approximately 1,000 testing cartridges per month, demonstrating strong market adoption of the company's non-invasive drug screening solution.
Rapid Global Expansion
This Spanish partnership represents part of a broader global growth strategy for INBS, which has now surpassed 450 active accounts worldwide. The company added 35 new accounts in fiscal Q3 alone and has expanded its operations to 24 countries through partnerships with 18 distributors across 19 nations.
"Detecto's success in securing these large accounts in Spain is a strong indication of the wider adoption of our technology in the country," said Doug Heath, Vice President of Global Sales at Intelligent Bio Solutions. "These strategic partnerships are key to our expansion into the European market and the broader implementation of fingerprint drug screening across additional regions."
Technology Advantages Driving Adoption
INBS's fingerprint drug testing system offers several competitive advantages that have contributed to its rapid market penetration. The technology provides a non-invasive alternative to traditional drug testing methods, collecting samples through fingerprint sweat analysis rather than urine or blood tests.
Key benefits include:
- Sample collection in seconds with results in under ten minutes
- Enhanced worker acceptance due to non-invasive collection method
- Reduced maintenance costs with yearly calibration requirements
- Easy integration into existing security protocols
The system can detect recent use of commonly tested substances including opiates, cocaine, methamphetamine, and cannabis, making it particularly valuable for employers in safety-critical industries.
Expanding Market Applications
Beyond its established presence in transportation and mining sectors, INBS has recently expanded into new industries including luxury marine, retail, and waste management. This diversification strategy has enabled the company to reach remote regions across Europe and Australia while building a foundation for potential entry into the multi-billion-dollar U.S. testing market.
Detecto, which was established following decades of experience in clinical distribution, recognized the evolving needs of the market and increasing demand for drug testing across various sectors. The partnership with INBS allows both companies to leverage their respective strengths to meet this growing demand.
The positive reception of INBS's technology among Detecto's clients suggests strong potential for continued growth in the Spanish and European markets. As workplace safety regulations continue to evolve globally, the demand for rapid, non-invasive drug testing solutions is expected to increase across multiple industries.
