Trinity Biotech Announces Success Of Destiny Max Trials And First Orders From Japan

Main Category: Clinical Trials / Drug Trials
Article Date: 25 Nov 2008 - 1:00 PST

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Trinity Biotech plc (NASDAQ: TRIB), a leading developer and manufacturer of diagnostic products for the point-of-care and clinical laboratory markets, today announced the success of the clinical trials for the Destiny Max and the first orders for Destiny Max from Kyowa Medex, its distributor in Japan.

Clinical trials comparing the new high throughput Destiny Max haemostasis analyser with the Destiny Plus were recently successfully concluded by Trinity in three sites in the USA, Canada and Ireland. The instrument will be formally launched in Europe in the second week in December and a submission to the FDA will be filed simultaneously.

Commenting on the success of the trials Ronan O' Caoimh, CEO, said, "The development of Destiny Max has been the largest development project ever undertaken by Trinity. It will enable Trinity to target the high throughput segment of the laboratory based haemostasis market which represents approximately 50% of the overall market or US$500 million annually. The performance of the Max has exceeded our expectations in these clinical trials and the instrument will be formally launched in Europe in December.

"We are also delighted to have received our first orders for the instrument from Kyowa Medex, our new distributor in Japan. The Japanese diagnostics market is the third largest in the world with 11% of the worldwide market. Within this the haemostasis market is estimated to be worth approximately US$100 million and tends to be concentrated in large volume laboratories where the Destiny Max is an ideal solution."

Forward-looking statements in this release are made pursuant to the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties including, but not limited to, the results of research and development efforts, the effect of regulation by the United States Food and Drug Administration and other agencies, the impact of competitive products, product development commercialisation and technological difficulties, and other risks detailed in the Company's periodic reports filed with the Securities and Exchange Commission.

Trinity Biotech develops, acquires, manufactures and markets over 500 diagnostic products for the point-of-care and clinical laboratory segments of the diagnostic market. The broad line of test kits are used to detect infectious diseases, sexually transmitted diseases, blood coagulation disorders, and autoimmune diseases. Trinity Biotech sells worldwide in over 80 countries through its own salesforce and a network of international distributors and strategic partners. For further information please see the Company's website: http://www.trinitybiotech.com.

Trinity Biotech