Will Trinity Biotech Stock Gain From Its Latest Patent Process?

Zacks Equity Research
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Trinity Biotech plc TRIB recently provided an update on its continued development of its glucose biosensor technology. Earlier this year, the company was granted a European patent for a novel method that enhances the performance of its glucose biosensor. Recent testing of this patented process has confirmed its effectiveness in improving the performance of the sensor.

Trinity Biotech intends to use this breakthrough process to stabilize and improve the functionality of its glucose biosensor in its next-generation continuous glucose monitor (CGM) technology.

Shares of TRIB went down marginally by 0.05% in pre-market trading today following the news. However, as the company is gaining a high level of synergies from its continued development within the CGM market, this latest development might prove fruitful in strengthening its foothold in this space. Accordingly, we expect market sentiment to recover shortly.

Significance of Trinity Biotech’s Patented Process

CGMs are small patch-like wearable medical devices that use biosensor wires under the skin to measure glucose in real time. Generally, these devices experience a “run-in” or “settling” period immediately after their insertion. During the run-in period, glucose readings are unreliable.

Trinity Biotech’s patent describes a unique process within the company’s reusable transmitter unit that “conditions” the CGM biosensor wire.  This conditioning process significantly reduces this run-in time, enabling reliable measurements more quickly.

Additionally, the conditioning process has demonstrated notable improvements in the accuracy of the CGM device compared to laboratory reference methods for blood glucose testing. The process also improves the biosensor’s mean absolute relative difference, which is the standard measure of accuracy used to compare CGM devices.

More on the News

The technology covered by this patent represents a major advancement for the company’s CGM platform. The CGM technology, which Trinity Biotech acquired in January, has a unique self-inserted biosensor wire.It poses strong advantages in terms of affordability and sustainability.

The patented conditioning process will likely play an important role in further enhancing the CGM technology toward a more user-friendly and self-calibrating device.  Along with other refinements to the biosensor, its wire design will be further evaluated in the upcoming pre-pivotal trials to create an optimized CGM that can be rapidly introduced into global markets.

Industry Prospects Favor Trinity Biotech

Per a Coherent Market Insights report, the global CGM device market was valued at $5.89 billion in 2022 and is expected to reach $12.51 billion by 2030, at a CAGR of 9.9% during the period.

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