Trinity Biotech Partners with University at Buffalo to Develop Sjogren's Syndrome Biomarkers
Trinity Biotech announced it has entered into a collaboration agreement with the University at Buffalo, New York, or UB. The partnership focuses on advancing and commercializing a suite of proprietary biomarkers for the earlier and more accurate detection of Sjogren's Syndrome, one of the most common but underdiagnosed autoimmune diseases. Sjogren's Syndrome is a chronic, systemic autoimmune disease that primarily affects moisture producing glands in the eyes and mouth, with potential progressive involvement of multiple organ systems. The disease may affect the nervous system, lungs, and kidneys as well as the function of most other exocrine glands in the human body. Chronic fatigue, joint pain, and neuropathic pain are significant sources of disability. It is widely underdiagnosed and often mistaken for other autoimmune or inflammatory conditions. Under the collaboration agreement Trinity Biotech will codevelop and commercialize proprietary biomarkers discovered by UB faculty researchers and licensed to Trinity Biotech subsidiary IMMCO through Business and Entrepreneur Partnership's Technology Transfer Office, which manages UB's intellectual property and facilitates collaborations between UB faculty researchers and industry partners. Trinity Biotech expects the collaboration to generate multiple downstream benefits, including expanded clinical partnerships, enhanced payer relevant data packages, and a strengthened platform for future biomarker commercialization.
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- Revenue Decline: Trinity Biotech reported FY 2025 revenue of $43.8 million, a 28.9% year-over-year decrease, indicating significant sales challenges amid intensified market competition and weak product demand, which may impact future liquidity.
- Increased Net Loss: The company recorded a net loss of $37.4 million, up from $31.8 million in 2024, which included a one-off IFRS charge of $10 million related to modifications in Perceptive financing arrangements, highlighting financial management pressures.
- Adjusted EBITDA Improvement: The adjusted EBITDA for 2025 was negative $5.9 million, an improvement from negative $11.3 million in 2024, suggesting some progress in cost control despite the overall financial situation remaining challenging.
- Financing Agreement Signed: Trinity Biotech entered into a $25 million standby equity purchase agreement with investors to strengthen its capital structure and provide operational funding, reflecting proactive measures in seeking financial stability.
- Executive Appointment: Trinity Biotech has appointed Jerry Lydon as Head of North America Commercial Operations, aiming to enhance revenue growth and profitability in its core diagnostics business, reflecting ongoing progress in the company's Comprehensive Transformation Plan.
- Product Upgrade: The Premier HbA1c 9210™ platform has received the prestigious
- Clinical Study Results: Trinity Biotech's EpiCapture prostate cancer test was evaluated in approximately 750 patient samples, demonstrating a clinical accuracy of 85%, indicating strong clinical utility in oncology diagnostics that can aid physicians in making more precise clinical decisions.
- Significant Market Potential: With U.S. national expenditures for prostate cancer care exceeding $20 billion annually, the launch of EpiCapture positions Trinity Biotech to enter the precision oncology diagnostics market, addressing growing market demand and driving future revenue growth for the company.
- Non-Invasive Testing Advantage: EpiCapture, as a urine liquid biopsy test, offers a simpler and non-invasive method for assessing high-grade prostate cancer risk compared to high-resolution MRI scans and needle biopsies, potentially attracting more patients to opt for this testing.
- Future Commercialization Plans: Trinity plans to commercialize EpiCapture as a proprietary Laboratory Developed Test (LDT) through a New York State Department of Health-certified diagnostic reference laboratory, which will expedite the rollout of precision oncology testing services across the U.S.
- Financing Agreement Details: Trinity Biotech has entered into a $25 million standby equity purchase agreement with an affiliate of Yorkville Advisors Global, allowing the company to sell newly issued American Depositary Shares over a 36-month period, aimed at supporting its commercialization and R&D initiatives.
- Pricing Mechanism: Under the agreement, shares issued will be priced at either 97% of the lowest daily volume-weighted average price during a three-day pricing period or 95% of the VWAP during a single-day pricing period, providing the company with flexible financing options to potentially lower costs.
- Market Reaction: Following the announcement of the agreement, Trinity Biotech's shares dipped slightly to $0.75 in pre-market trading, reflecting a cautious market sentiment regarding the financing arrangement while highlighting investor interest in the company's future prospects.
- Strategic Implications: This financing agreement not only provides essential funding for Trinity Biotech but also supports its commercialization efforts in areas such as HIV testing, further solidifying its market position in the biotechnology sector.

Investment Announcement: Trinity Biotech PLC has entered into a $25 million SEPA with an affiliate of Yorkville Advisors.
Financial Partnership: The agreement involves a financing partnership aimed at supporting Trinity Biotech's growth and operational needs.
- Compliance Notice: On February 19, 2026, Trinity Biotech received a notice indicating it no longer meets Nasdaq's minimum public float requirement of $15 million, which poses a risk to its continued listing on the exchange.
- Market Reaction: Despite the compliance issue, Trinity Biotech's stock price rose due to an order for 9 million TrinScreen HIV tests, reflecting market confidence in product demand and potentially alleviating investor concerns regarding compliance deficiencies.
- Rating Dynamics: Seeking Alpha's Quant Rating on Trinity Biotech reveals mixed market sentiment about its future performance; while compliance issues persist, the increase in orders may influence investor perceptions positively.
- Financial Disclosure: Financial information from Trinity Biotech indicates its market performance; despite compliance challenges, the expansion of its product line and growth in orders may provide financial support to help navigate current compliance pressures.








