Shares of Intelligent Bio Solutions Inc. (INBS) gained 11% in pre-market trading on Wednesday, after the company announced the rollout of the first shipment of its Intelligent Fingerprinting Drug Screening Readers produced under a new manufacturing partnership with Syrma Johari MedTech.
The medical technology company said its manufacturing capacity is now about four times higher than before. As a result, it expects to reduce annual production costs by more than 40%, which could lift gross margins by around 20 percentage points each year.
The devices are being deployed across construction, transportation, logistics, and manufacturing sectors in the U.K. and Europe. Intelligent Bio Solutions also doubled its in-house production capacity for test strips. The company expects additional shipments in 2026 as it prepares for U.S. market entry.
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