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Posted On: 06/20/2023 1:45:29 PM
Post# of 25492
$INBS Intelligent Bio Solutions Receives Non-Dilutive Grant Funding of USD $1.43 Million
https://www.globenewswire.com/news-release/20...llion.html
NEW YORK, June 20, 2023 (GLOBE NEWSWIRE) -- Intelligent Bio Solutions Inc. (Nasdaq: INBS) (“INBS” or the “Company”), a medical technology company delivering intelligent, rapid, non-invasive testing solutions, today announced it has received a second progress payment of USD $1.43 million as part of a scientific grant awarded to the Company in 2021 for USD $4.7 million, as announced by the Company on July 8, 2021. The latest payment brings the total funds received to date to USD $3.25 million. The Medical Products Priority Grant, from the Australian Federal Government’s Department of Industry, Science, Energy and Resources’ Modern Manufacturing Initiative, which is subject to conditions and achieving certain deliverables, was awarded to fund the establishment of a state-of-the-art Australian medical device manufacturing facility. The Australian Government identified the project as one of six National Manufacturing Priorities under the Modern Manufacturing Strategy (MMS).
“We are grateful for the continued support from the Australian Federal Government,” said Harry Simeonidis, President and CEO of Intelligent Bio Solutions. “This second progress payment demonstrates the Australian Government’s commitment to the development of high-tech medical devices and solutions by Australian medical companies.”
https://www.globenewswire.com/news-release/20...llion.html
NEW YORK, June 20, 2023 (GLOBE NEWSWIRE) -- Intelligent Bio Solutions Inc. (Nasdaq: INBS) (“INBS” or the “Company”), a medical technology company delivering intelligent, rapid, non-invasive testing solutions, today announced it has received a second progress payment of USD $1.43 million as part of a scientific grant awarded to the Company in 2021 for USD $4.7 million, as announced by the Company on July 8, 2021. The latest payment brings the total funds received to date to USD $3.25 million. The Medical Products Priority Grant, from the Australian Federal Government’s Department of Industry, Science, Energy and Resources’ Modern Manufacturing Initiative, which is subject to conditions and achieving certain deliverables, was awarded to fund the establishment of a state-of-the-art Australian medical device manufacturing facility. The Australian Government identified the project as one of six National Manufacturing Priorities under the Modern Manufacturing Strategy (MMS).
“We are grateful for the continued support from the Australian Federal Government,” said Harry Simeonidis, President and CEO of Intelligent Bio Solutions. “This second progress payment demonstrates the Australian Government’s commitment to the development of high-tech medical devices and solutions by Australian medical companies.”
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