Trinity Biotech (TRIB) Announces Additional Funding

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 $4m in debt financing from its primary lender, Perceptive Advisors.

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.

You May Also Be Interested In

• Iran Attacks Ship In Strait Of Hormuz, US Officials Say - WSJ
• Jack Henry and Google Cloud expand AI security collaboration for banks
• Morpheus shorts Velo3D: 'parlayed a failed SPAC and a sham SpaceX relationship into a fortune'