Summary: Trinity Biotech has made a strategic investment in Novus Diagnostics to accelerate the development and commercialization of a 15-minute bedside test for sepsis, addressing a critical unmet medical need.
Takeaways:
- Game-Changing Sepsis Test: Novus Diagnostics’ rapid point-of-care platform delivers sepsis diagnoses in just 15 minutes, overcoming delays and inaccuracies in traditional testing methods.
- Strategic Collaboration: Trinity Biotech’s $2.5 million investment, representing a 12.5% equity stake, will leverage its regulatory and manufacturing expertise to fast-track Novus’ diagnostic platform to market.
- Transforming Healthcare Outcomes: The innovative sepsis test aims to save lives, reduce the $50 billion annual cost of sepsis-related hospitalizations in the U.S., and significantly improve patient care with faster, more accurate results.
Trinity Biotech, a commercial-stage biotechnology company focused on human diagnostics and diabetes management solutions, including wearable biosensors, announced a strategic investment in Novus Diagnostics, a company pioneering a rapid sepsis testing platform. This investment will accelerate the development and commercialization of Novus’ point-of-care diagnostic solutions, including its 15-minute bloodstream infection test.
Impact of Sepsis
Sepsis is a life-threatening condition resulting from the body’s overwhelming response to infection. According to the Centers for Disease Control and Prevention (CDC) 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 are developing an innovative bedside test that can deliver rapid sepsis diagnoses, a solution that could transform the management of this life-threatening condition.
“Rapid sepsis diagnosis has long been considered one of the ‘holy grails’ in diagnostics. With Novus Diagnostics’ platform, we are one step closer to that goal,” says John Gillard, president and CEO of Trinity Biotech. “Our investment not only underscores our commitment to addressing urgent clinical challenges but also leverages our strengths in manufacturing, regulatory affairs, and commercialization to help bring this crucial diagnostic tool to market. We are confident that, with our support, Novus will be able to accelerate its path to regulatory approval and launch.”
Further Reading
Improved Sepsis Diagnosis
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 $50 billion estimated annual cost of sepsis-related hospitalizations in the U.S.
“We are thrilled to have Trinity Biotech as a strategic investor,” says Keith O’Neill, CEO of Novus Diagnostics. “Their technical expertise, regulatory experience, and manufacturing capabilities will be instrumental in helping us bring our rapid sepsis diagnostic platform to market. Together, we aim to revolutionize sepsis care and, ultimately, improve patient outcomes.”
Trinity Biotech has acquired a 12.5% equity stake in Novus Diagnostics, valued at approximately $2.5 million. This investment was made through the issuance of approximately 1.4 million American Depository Shares (ADS) in Trinity Biotech, which values Novus at $20 million post-investment.
