Intelligent Bio Solutions (INBS) announced a new strategic manufacturing partnership with Syrma Johari MedTech to support and scale the production of its Intelligent Fingerprinting Drug Screening Reader. The collaboration is also expected to support long-term margin improvement. The partnership is expected to deliver significant operational and financial benefits for the Company. INBS anticipates annual production cost savings of more than 40%, translating to an expected improvement of approximately 20 percentage points in gross margin compared with its previous manufacturing arrangement. Additionally, Syrma Johari’s manufacturing capacity is approximately four times INBS’ current capacity, positioning the Company to efficiently support anticipated demand as it scales commercial operations.
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