Trinity Biotech Announces Additional Funding To Support Transformation Plan & Continued Development of the Company’s Continuous Glucose Monitoring Technology
Trinity Biotech (TRIB) has secured an additional $4 million in debt financing from Perceptive Advisors to support two key initiatives: the continued development of its continuous glucose monitoring (CGM) technology and the company's transformation plan.
The funding follows previously announced positive results from Trinity's pre-pivotal CGM trial. The company's transformation plan aims to enhance profitability and cash-flow generation across its portfolio of operating businesses. Trinity has already implemented measures to increase operational efficiencies and continues to optimize its business portfolio and capital structure.
Trinity Biotech (TRIB) ha ottenuto ulteriori 4 milioni di dollari in finanziamenti tramite debito da Perceptive Advisors per supportare due iniziative chiave: il continuo sviluppo della sua tecnologia di monitoraggio continuo della glicemia (CGM) e il piano di trasformazione dell'azienda.
Il finanziamento segue i risultati positivi precedentemente annunciati della fase pre-pivotal della sperimentazione CGM di Trinity. Il piano di trasformazione dell'azienda mira a migliorare la redditività e la generazione di flussi di cassa attraverso il suo portafoglio di attività operative. Trinity ha già implementato misure per aumentare l'efficienza operativa e continua a ottimizzare il suo portafoglio aziendale e la struttura del capitale.
Trinity Biotech (TRIB) ha asegurado 4 millones de dólares en financiamiento de deuda de Perceptive Advisors para apoyar dos iniciativas clave: el desarrollo continuo de su tecnología de monitoreo continuo de glucosa (CGM) y el plan de transformación de la empresa.
El financiamiento sigue a los resultados positivos previamente anunciados de la prueba pre-pivotal de CGM de Trinity. El plan de transformación de la empresa tiene como objetivo mejorar la rentabilidad y la generación de flujo de efectivo en su cartera de negocios operativos. Trinity ya ha implementado medidas para aumentar la eficiencia operativa y continúa optimizando su cartera de negocios y la estructura de capital.
트리니티 바이오텍 (TRIB)는 퍼셉티브 어드바이저스로부터 400만 달러의 추가 부채 자금 조달을 확보하여 두 가지 주요 이니셔티브를 지원합니다: 지속적인 혈당 모니터링(CGM) 기술의 지속적인 개발과 회사의 변혁 계획입니다.
이번 자금 조달은 트리니티의 사전 주요 시험 CGM에서 발표된 긍정적인 결과에 따른 것입니다. 회사의 변혁 계획은 운영 사업 포트폴리오 전반에 걸쳐 수익성과 현금 흐름 생성을 향상시키는 것을 목표로 합니다. 트리니티는 이미 운영 효율성을 높이기 위한 조치를 시행했으며, 비즈니스 포트폴리오와 자본 구조를 계속 최적화하고 있습니다.
Trinity Biotech (TRIB) a obtenu un financement supplémentaire de 4 millions de dollars sous forme de dette de la part de Perceptive Advisors pour soutenir deux initiatives clés : le développement continu de sa technologie de surveillance continue de la glycémie (CGM) et le plan de transformation de l'entreprise.
Ce financement fait suite à des résultats positifs précédemment annoncés de l'essai pré-pivotal de CGM de Trinity. Le plan de transformation de l'entreprise vise à améliorer la rentabilité et la génération de flux de trésorerie dans son portefeuille d'activités opérationnelles. Trinity a déjà mis en œuvre des mesures pour accroître l'efficacité opérationnelle et continue d'optimiser son portefeuille d'activités et sa structure de capital.
Trinity Biotech (TRIB) hat zusätzliches 4 Millionen Dollar an Fremdfinanzierung von Perceptive Advisors gesichert, um zwei zentrale Initiativen zu unterstützen: die fortlaufende Entwicklung ihrer technologie zur kontinuierlichen Glukoseüberwachung (CGM) und den Transformationsplan des Unternehmens.
Die Finanzierung folgt auf zuvor angekündigte positive Ergebnisse aus der prä-pivotalen CGM-Studie von Trinity. Der Transformationsplan des Unternehmens zielt darauf ab, die Rentabilität und die Cashflow-Generierung über das Portfolio der operativen Geschäfte zu verbessern. Trinity hat bereits Maßnahmen zur Steigerung der Betriebseffizienz umgesetzt und optimiert weiterhin sein Geschäftsportfolio und die Kapitalstruktur.
- Secured $4M additional debt financing
- Positive results from pre-pivotal CGM trial
- Implementation of operational efficiency measures
- Increased debt burden through new financing
- Still in pre-pivotal phase for CGM technology
- Ongoing need for business portfolio optimization
Insights
Trinity Biotech's $4 million debt financing from Perceptive Advisors represents a significant capital infusion for this microcap company, constituting approximately 18% of its $22.5 million market capitalization. This funding allocation serves dual strategic purposes: advancing their continuous glucose monitoring (CGM) technology following positive pre-pivotal trial results and supporting their transformation plan focused on profitability improvement.
The financing structure as debt rather than equity at the current
Trinity's transformation strategy balances new product development with optimization of existing operations—a pragmatic approach for a smaller player. The company has specifically highlighted operational efficiency improvements already underway, indicating active implementation rather than merely conceptual planning.
While this funding provides essential runway, investors should note that developing and commercializing CGM technology typically requires substantial capital and navigating regulatory pathways. The competitive landscape includes well-established players with significant resources, making Trinity's execution particularly important to monitor in coming quarters.
Trinity Biotech's continued investment in continuous glucose monitoring technology represents a strategic focus on one of healthcare's most promising digital health segments. Their announcement of positive pre-pivotal trial results suggests meaningful progress in technical development, though several steps remain before potential commercialization.
The CGM market represents a substantial opportunity within diabetes management, as these devices provide important real-time glucose data that enables better treatment decisions and improved patient outcomes. Trinity entering this space would represent a significant expansion beyond their traditional diagnostics portfolio.
The pre-pivotal designation indicates they're approaching but haven't yet reached pivotal trials—the final clinical testing phase before regulatory submission. This positions them in mid-stage development, with regulatory submission, review, and commercial scaling still ahead before generating revenue from this initiative.
This additional funding provides necessary capital to advance development, particularly important as CGM systems require extensive testing for accuracy, reliability, and user experience. Trinity appears to be balancing this longer-term development initiative with immediate operational improvements, which could potentially generate near-term financial benefits while the CGM technology progresses through development milestones.
DUBLIN, Ireland, Feb. 28, 2025 (GLOBE NEWSWIRE) -- Trinity Biotech plc (Nasdaq: TRIB), a commercial-stage biotechnology company focused on human diagnostics and diabetes management solutions, including wearable biosensors, today announced it has obtained an additional
The additional liquidity will support both the continued development of Trinity Biotech’s innovative continuous glucose monitoring (CGM) technology and the Company’s comprehensive transformation plan. The Company continues to focus much of its growth efforts around its CGM technology, especially given the previously announced positive results from its most recent pre-pivotal trial.
The Company’s comprehensive transformation plan is focused on increasing profitability and cash-flow generation across the Company’s portfolio of operating businesses. Since the announcement of the transformation plan, the Company has taken steps to increase operational efficiencies with a view to increasing the Company’s financial strength and will continue to review and manage the optimization of its business portfolio and capital structure.
Forward-Looking Statements
This release includes statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”), including but not limited to statements related to Trinity Biotech’s cash position, financial resources and potential for future growth, market acceptance and penetration of new or planned product offerings, and future recurring revenues and results of operations. Trinity Biotech claims the protection of the safe harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms “may,” “believes,” “projects,” “expects,” “anticipates,” or words of similar import, and do not reflect historical facts. Specific forward-looking statements contained in this release may be affected by risks and uncertainties, including, but not limited to, our ability to capitalize on the Waveform transaction and of our recent acquisitions, our continued listing on the Nasdaq Stock Market, our ability to achieve profitable operations in the future, the impact of the spread of COVID-19 and its variants, the possible impact of changes in U.S. Government funding for HIV tests produced by Trinity Biotech, potential excess inventory levels and inventory imbalances at the Company’s distributors, losses or system failures with respect to Trinity Biotech’s facilities or manufacturing operations, the effect of exchange rate fluctuations on international operations, fluctuations in quarterly operating results, dependence on suppliers, the market acceptance of Trinity Biotech’s products and services, the continuing development of its products, required government approvals, risks associated with manufacturing and distributing its products on a commercial scale free of defects, risks related to the introduction of new instruments manufactured by third parties, risks associated with competing in the human diagnostic market, risks related to the protection of Trinity Biotech’s intellectual property or claims of infringement of intellectual property asserted by third parties and risks related to condition of the United States economy and other risks detailed under “Risk Factors” in Trinity Biotech’s annual report on Form 20-F for the fiscal year ended December 31, 2023 and Trinity Biotech’s other periodic reports filed from time to time with the United States Securities and Exchange Commission. Forward-looking statements speak only as of the date the statements were made. Trinity Biotech does not undertake and specifically disclaims any obligation to update any forward-looking statements.
The foregoing description of the transaction does not purport to be complete and is qualified in its entirety by reference to the transaction documents included in a Form 6-K to be filed with the U.S. Securities and Exchange Commission.
About Trinity Biotech
Trinity Biotech is a commercial stage biotechnology company focused on diabetes management solutions and human diagnostics, including wearable biosensors. The Company develops, acquires, manufactures and markets diagnostic systems, including both reagents and instrumentation, for the point-of-care and clinical laboratory segments of the diagnostic market and has recently entered the wearable biosensor industry, with the acquisition of the biosensor assets of Waveform Technologies Inc. and intends to develop a range of biosensor devices and related services, starting with a continuous glucose monitoring product. Our products are used to detect infectious diseases and to quantify the level of Haemoglobin A1c and other chemistry parameters in serum, plasma and whole blood. Trinity Biotech sells direct in the United States and through a network of international distributors and strategic partners in over 75 countries worldwide. For further information, please see the Company's website: www.trinitybiotech.com.
| Contact: | Trinity Biotech plc | LifeSci Partners, LLC |
| Louise Tallon | Eric Ribner | |
| (353)-1-2769800 | (1)-646-751-4363 | |
| investorrelations@trinitybiotech.com | ||
| RedChip Companies Inc. | ||
| Dave Gentry, CEO | ||
| (1)-407-644-4256 | ||
| TRIB@redchip.com |
FAQ
How much additional funding did Trinity Biotech (TRIB) secure in February 2025?
What will Trinity Biotech use the new $4M funding for?
What progress has Trinity Biotech made with its CGM technology?
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