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.
Trinity Biotech notes the additional liquidity will support both the continued development of their 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.
Trinity Biotech 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.
