Trinity Biotech acquires 12.5% stake in Novus Diagnostics valued at $2.5M

Trinity Biotech (TRIB) announced a strategic investment in Novus Diagnostics. This investment will accelerate the development and commercialization of Novus’ groundbreaking point-of-care diagnostic solutions, including its 15-minute bloodstream infection test. Sepsis is a life-threatening condition resulting from the body’s overwhelming response to infection. According to the Centers for Disease Control and Prevention it is estimated to affect 1.7 million people and cause approximately 350,000 deaths annually in the U.S. alone. Timely and accurate diagnosis is critical for improving patient outcomes, yet current testing methods are slow, often taking days to deliver results. Novus is developing a bedside test that can deliver rapid sepsis diagnoses, a solution that could transform the management of this life-threatening condition. Novus’ platform addresses key limitations in current sepsis diagnostics, such as the delay in results and the inaccuracies caused by contamination and prior antibiotic use. This rapid, point-of-care solution is expected to significantly improve sepsis outcomes by enabling faster diagnosis and timely treatment, potentially saving lives and reducing the over $50B estimated annual cost of sepsis-related hospitalizations in the U.S. Trinity Biotech has acquired a 12.5% equity stake in Novus Diagnostics, valued at approximately $2.5M. This investment was made through the issuance of approximately 1.4M American Depository Shares in Trinity Biotech, which values Novus at $20M post-investment.