Trinity Biotech Further Strengthens Focus on Continuous Glucose Monitoring – Appoints Barclays to Advise on Ongoing Strategic Realignment Process
Trinity Biotech (Nasdaq: TRIB) has appointed Barclays Capital Inc. as its exclusive financial advisor to support its strategic realignment, focusing primarily on Continuous Glucose Monitoring (CGM) technology development. This appointment marks a significant step in the company's transformation plan.
The company's decision follows substantial progress in developing its differentiated CGM technology, which promises to be more affordable, user-focused, and sustainable. CEO John Gillard highlighted strong pre-pivotal clinical trial data and market interest as key factors driving this strategic direction.
The transformation plan aims to achieve near-term profitability improvements while optimizing the company's portfolio to support CGM-related growth. Barclays will actively assess how Trinity Biotech's existing businesses can align with this new strategic focus.
Trinity Biotech (Nasdaq: TRIB) ha nominato Barclays Capital Inc. come suo consulente finanziario esclusivo per supportare il suo riallineamento strategico, concentrandosi principalmente sullo sviluppo della tecnologia di Monitoraggio Continuo della Glucosio (CGM). Questa nomina rappresenta un passo significativo nel piano di trasformazione dell'azienda.
La decisione dell'azienda segue progressi sostanziali nello sviluppo della sua tecnologia CGM differenziata, che promette di essere più accessibile, incentrata sull'utente e sostenibile. Il CEO John Gillard ha evidenziato dati clinici pre-pivotal solidi e l'interesse del mercato come fattori chiave che guidano questa direzione strategica.
Il piano di trasformazione mira a raggiungere miglioramenti nella redditività a breve termine, ottimizzando il portafoglio dell'azienda per supportare la crescita legata al CGM. Barclays valuterà attivamente come le attuali attività di Trinity Biotech possano allinearsi con questo nuovo focus strategico.
Trinity Biotech (Nasdaq: TRIB) ha nombrado a Barclays Capital Inc. como su asesor financiero exclusivo para apoyar su reorientación estratégica, centrándose principalmente en el desarrollo de la tecnología de Monitoreo Continuo de Glucosa (CGM). Este nombramiento marca un paso significativo en el plan de transformación de la empresa.
La decisión de la empresa sigue a un progreso sustancial en el desarrollo de su tecnología CGM diferenciada, que promete ser más asequible, centrada en el usuario y sostenible. El CEO John Gillard destacó datos sólidos de ensayos clínicos previos a la fase pivotal y el interés del mercado como factores clave que impulsan esta dirección estratégica.
El plan de transformación tiene como objetivo lograr mejoras en la rentabilidad a corto plazo mientras optimiza la cartera de la empresa para apoyar el crecimiento relacionado con el CGM. Barclays evaluará activamente cómo los negocios existentes de Trinity Biotech pueden alinearse con este nuevo enfoque estratégico.
트리니티 바이오텍 (Nasdaq: TRIB)는 바클레이스 캐피탈 Inc.를 전략적 재편성을 지원하기 위한 독점 재정 고문으로 임명했습니다. 주로 연속 혈당 모니터링 (CGM) 기술 개발에 중점을 두고 있습니다. 이 임명은 회사의 변혁 계획에서 중요한 단계를 나타냅니다.
회사의 결정은 차별화된 CGM 기술 개발에서 상당한 진전을 이룬 후에 이루어졌으며, 이는 더 저렴하고 사용자 중심적이며 지속 가능할 것으로 기대됩니다. CEO 존 길라드는 강력한 임상 시험 데이터와 시장의 관심을 이 전략적 방향을 이끄는 주요 요소로 강조했습니다.
변혁 계획은 단기적인 수익성 개선을 달성하는 동시에 CGM 관련 성장을 지원하기 위해 회사 포트폴리오를 최적화하는 것을 목표로 하고 있습니다. 바클레이스는 트리니티 바이오텍의 기존 비즈니스가 이 새로운 전략적 초점과 어떻게 조화될 수 있는지를 적극적으로 평가할 것입니다.
Trinity Biotech (Nasdaq: TRIB) a nommé Barclays Capital Inc. comme son conseiller financier exclusif pour soutenir son réalignement stratégique, en se concentrant principalement sur le développement de la technologie de Surveillance Continue de la Glucose (CGM). Cette nomination marque une étape significative dans le plan de transformation de l'entreprise.
La décision de l'entreprise fait suite à des progrès substantiels dans le développement de sa technologie CGM différenciée, qui promet d'être plus abordable, centrée sur l'utilisateur et durable. Le PDG John Gillard a souligné des données cliniques pré-pivotales solides et l'intérêt du marché comme des facteurs clés qui dirigent cette orientation stratégique.
Le plan de transformation vise à atteindre des améliorations de rentabilité à court terme tout en optimisant le portefeuille de l'entreprise pour soutenir la croissance liée au CGM. Barclays évaluera activement comment les activités existantes de Trinity Biotech peuvent s'aligner avec ce nouveau focus stratégique.
Trinity Biotech (Nasdaq: TRIB) hat Barclays Capital Inc. als seinen exklusiven Finanzberater ernannt, um seine strategische Neuausrichtung zu unterstützen, wobei der Schwerpunkt hauptsächlich auf der Entwicklung von Kontinuierlichem Glukosemonitoring (CGM)-Technologie liegt. Diese Ernennung markiert einen bedeutenden Schritt im Transformationsplan des Unternehmens.
Die Entscheidung des Unternehmens folgt auf erhebliche Fortschritte bei der Entwicklung seiner differenzierten CGM-Technologie, die verspricht, erschwinglicher, benutzerorientierter und nachhaltiger zu sein. CEO John Gillard hob starke prä-pivotal klinische Studiendaten und das Marktinteresse als Schlüsselfaktoren hervor, die diese strategische Richtung vorantreiben.
Der Transformationsplan zielt darauf ab, kurzfristige Rentabilitätsverbesserungen zu erreichen, während das Portfolio des Unternehmens optimiert wird, um das Wachstum im Zusammenhang mit CGM zu unterstützen. Barclays wird aktiv bewerten, wie die bestehenden Geschäfte von Trinity Biotech mit diesem neuen strategischen Fokus in Einklang gebracht werden können.
- Strong pre-pivotal clinical trial data for CGM technology
- Strategic focus on high-potential CGM market
- Transformation plan expected to improve near-term profitability
- Appointment of major financial advisor (Barclays) signals serious strategic initiative
- Potential restructuring of existing business units may create uncertainty
- Significant capital allocation needed for CGM development and commercialization
- Risks associated with market acceptance of new CGM technology
- Ongoing concerns about Nasdaq listing status mentioned in risk factors
DUBLIN and PORTLAND, Ore., March 13, 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 announces the next stage in realizing its comprehensive transformation plan and development of its continuous glucose monitoring (“CGM”) technology with the appointment of Barclays Capital Inc. (“Barclays”) as its exclusive financial advisor to support its ongoing strategic realignment, reflecting the Company’s increased focus on its CGM technology as part of its broader transformation plan.
With substantial progress in developing its differentiated and innovative CGM and its significant market potential, Trinity Biotech’s board and management have determined that CGM technology and related data driven insights will be the Company's primary strategic focus moving forward.
The successful execution of Trinity Biotech’s comprehensive transformation plan is expected to drive near-term profitability improvements, creating potential opportunities to optimize its portfolio and support CGM-related growth. As part of this effort, Barclays is now actively assessing how the Company’s existing businesses can best align with this new strategic direction.
Speaking about the process, CEO & President John Gillard stated, “Over the past year we have focused on proving the technological and market feasibility of building a large scale, innovative global CGM business. Our strong pre-pivotal clinical trial data and the keen market interest for our more affordable, user-focused and sustainable CGM solution gives us confidence that this is a vast and compelling opportunity for Trinity Biotech and our investors. At the same time, our strong execution of the Company’s ambitious comprehensive transformation plan is poised to provide us with a portfolio of operating businesses with significantly improved financial prospects. Given this progress, now is the right time to explore how we can strategically allocate capital, optimize our balance sheet, and sharpen our focus on CGM growth.”
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.
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 Louise Tallon (353)-1-2769800 | LifeSci Partners, LLC Eric Ribner (1)-646-751-4363 investorrelations@trinitybiotech.com |
| RedChip Companies Inc. Dave Gentry, CEO (1)-407-644-4256 TRIB@redchip.com |
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