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Trinity Biotech Announces Strategic Collaboration with Medical Artificial Intelligence Company PulseAI

Globe Newswire 16-May-2024 9:18 AM

DUBLIN, Ireland, May 16, 2024 (GLOBE NEWSWIRE) -- Trinity Biotech plc (NASDAQ:TRIB) a commercial stage biotechnology company focused on human diagnostics and diabetes management solutions, including wearable biosensors, today announced a strategic collaboration with medical artificial intelligence ("AI") company PulseAI to enhance the Company's recently acquired continuous glucose monitor (CGM) biosensor technology.

Under this collaboration, Trinity Biotech will provide a pool of unique multi-parameter CGM datasets from Trinity Biotech's existing biosensor database to PulseAI. This data will be used to support the design and implementation of Trinity Biotech's AI-driven health & wellness analytics platform. This platform will be a key component of Trinity Biotech's CGM solution, further differentiating the affordable, needle-free and reusable diabetes management solution that Trinity plans to launch across global markets.

PulseAI are experts in evidence-based medical AI and have extensive experience in scaling AI algorithm training using medical sensor datasets. PulseAI have worked in association with Mayo Clinic to train their machine learning algorithms using large-scale datasets captured across millions of patients.

Trinity Biotech Chief Technology Officer, Dr Gary Keating, stated, "This collaboration will deliver important insights as we develop our AI driven analytical platform. This project will harness the potential of using additional personalised data from in, on and around the body to enhance the utility of continuous glucose measurements, improving the user experience, increasing satisfaction, and providing superior metabolic insights."

PulseAI Chief Executive Officer, Alan Kennedy, stated: "We're delighted to partner with Trinity Biotech on this project which should result in the development of powerful data analytics, and lay the groundwork for future innovation and exploration in the context of glucose monitoring and broader health analytics."

Forward-Looking Statements

This release includes statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"), including but not limited to statements related to Trinity Biotech's cash position, financial resources and potential for future growth, market acceptance and penetration of new or planned product offerings, and future recurring revenues and results of operations. Trinity Biotech claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterised by the terms "may," "believes," "projects," "expects," "anticipates," or words of similar import, and do not reflect historical facts. Specific forward-looking statements contained in this presentation may be affected by risks and uncertainties, including, but not limited to, our ability to capitalize on our purchase of the assets of Waveform, our continued listing on the Nasdaq Stock Market, our ability to achieve profitable operations in the future, the impact of the spread of COVID-19 and its variants, potential excess inventory levels and inventory imbalances at the company's distributors, losses or system failures with respect to Trinity Biotech's facilities or manufacturing operations, the effect of exchange rate fluctuations on international operations, fluctuations in quarterly operating results, dependence on suppliers, the market acceptance of Trinity Biotech's products and services, the continuing development of its products, required government approvals, risks associated with manufacturing and distributing its products on a commercial scale free of defects, risks related to the introduction of new instruments manufactured by third parties, risks associated with competing in the human diagnostic market, risks related to the protection of Trinity Biotech's intellectual property or claims of infringement of intellectual property asserted by third parties and risks related to condition of the United States economy and other risks detailed under "Risk Factors" in Trinity Biotech's annual report on Form 20-F for the fiscal year ended December 31, 2023 and Trinity Biotech's other periodic reports filed from time to time with the United States Securities and Exchange Commission. Forward-looking statements speak only as of the date the statements were made. Trinity Biotech does not undertake and specifically disclaims any obligation to update any forward-looking statements.

About Trinity Biotech

Trinity Biotech is a commercial stage biotechnology company focused on human diagnostics and diabetes management solutions, including wearable biosensors. The Company develops, acquires, manufactures and markets diagnostic systems, including both reagents and instrumentation, for the point-of-care and clinical laboratory segments of the diagnostic market and has recently entered the wearable biosensor industry, with the acquisition of the biosensor assets of Waveform Technologies Inc. and intends to develop a range of biosensor devices and related services, starting with a continuous glucose monitoring product. The products are used to detect infectious diseases and to quantify the level of Haemoglobin A1c and other chemistry parameters in serum, plasma and whole blood. Trinity Biotech sells direct in the United States, Germany, France and the U.K. and through a network of international distributors and strategic partners in over 75 countries worldwide. For further information, please see the Company's website: www.trinitybiotech.com.

About PulseAI

PulseAI is a medical technology company based in Belfast, Northern Ireland. The company builds AI-enabled software products designed to improve the accuracy, efficiency and scalability of Cardiac Diagnostics. Developed on a growing proprietary database of more 6 million ECGs recorded from 2 million patients, PulseAI has created a cloud-based platform allowing for easy device integration and scalable deployment of deep learning AI-ECG algorithms.

Contact:Trinity Biotech plcLifeSci Partners, LLC
 Gary Keating, Ph.D.Eric Ribner
 (353)-1-2769800(1)-646-751-4363
  E-mail: investorrelations@trinitybiotech.com

 

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