Trinity Biotech building out biosensor team to augment Waveform team members

The company said, “In January 2024, the Company announced the acquisition of the biosensor assets of Waveform Technologies for $12.5 million in cash and 1.8 million American Depositary Shares plus contingent consideration. We plan to build a global business in wearable biosensors and are taking the first steps by using this acquired technology to develop a next generation version of a continuous glucose monitor. We believe that our CGM will have a number of game changing benefits compared to the leading CGMs on the market today, specifically with respect to affordability, sustainability and enhanced data capture. Since the acquisition, we have been building out our new biosensor team to augment the Waveform team members we hired, and have made a number of senior appointments across a number of areas including programme management, R&D, regulatory & quality and operations. These new team members come from leading medical device and diabetes management companies such as Phillips, Johnson & Johnson and Lifescan. Our team is progressing our plans across a number of areas including: Planning and executing sensor design improvements based on the existing CGM product design, with the assistance of external technical & design consultants. Initiating enhanced data analysis on Waveform’s large existing data bank of clinical trial results. Progressing discussions and agreements with potential commercial partners for the launch of CGM products. Establishing a scientific and user advisory group for CGM to support our product development efforts and ensuring that user needs continue to be at the forefront of our efforts.”