Trinity Biotech plc Signs Agreement With Akers Biosciences for Distribution of ABI Heparin Allergy Test
DUBLIN, IRELAND, Jun 26 (MARKET WIRE) --
Trinity Biotech plc (NASDAQ: TRIB) is pleased to announce that it has
been appointed by Akers Biosciences, Inc (LSE: AKR) ('ABI'), a leading
designer and manufacturer of rapid diagnostic screening and testing
products, as a distributor of its unique PIFA Heparin/Platelet Factor-4
Rapid Assay (HPF4) in the USA and German markets.
Heparin is the most widely used intravenous anticoagulant, and is commonly
used for the prophylaxis and treatment of thromboembolic disease. It also
has numerous other applications such as the treatment of certain types of
lung and heart disorders and after a variety of surgeries including open
heart, bypass, orthopedic procedures and kidney dialysis. Certain segments
of the medical community have, for some time, been aware of the potential
side-effects associated with the use of heparin. However, the past six
months have seen the situation thrust into the public eye following a
series of deaths linked to the drug in the USA and Europe.
In 2006, over 3.5 million tests were performed in the US using current
laboratory tests to confirm a potential "heparin allergy" or
Heparin-Induced Thrombocytopenia ("HIT"), primarily in cardiology and
emergency medicine patients. However, more recently, with the greater
market focus and patient awareness on the potential side affects of
heparin the level of testing has been increasing.
About PIFA(R) Heparin Platelet Factor 4 Rapid Assay (HPF4)
The test detects the presence of Heparin/PF-4 antibody, which is
associated with patients at risk for HIT, and is rapidly becoming a
standard of care in hematology and cardiology. It is the first rapid test
for HPF4 antibodies and several studies have been presented at scientific
meetings indicating that this test may be more accurate than any other
product on the market.
The HPF4 test is currently being sold into the US clinical laboratory
market under the name "PIFA Heparin/PF-4 Rapid Assay." The test is being
promoted as a replacement for current laboratory tests used in the
detection of a heparin "allergy" or other serious thrombolytic reaction
resulting from heparin treatment.
The ABI assay is the first rapid test in the world for HIT and the only
test available on the market that can provide real-time information that
can be useful in formulating a clinical diagnosis. This has significant
advantages both in terms of cost and time to result compared to current
laboratory tests which take hours to perform and require complex
instrumentation. This is a key factor in acute patient management as HIT
can rapidly progress in minutes or hours, and can result in death or
dismemberment.
In selling this product, Trinity Biotech will target coagulation and
haematology laboratories and clinical settings, such as Emergency Room,
Surgical and Dialysis units in the hospital markets where Trinity already
sells its existing products.
Commenting on the agreement, Brendan Farrell, CEO of Trinity Biotech,
said, "The addition of the ABI HPF4 product is a natural fit to our well
established coagulation and point-of-care portfolio. We see great
synergies for our sales and marketing organisation which is well placed
to drive the growth of this important life saving product in the
specialist hospital and clinical laboratory arena."
Thomas A. Nicolette, Chief Executive of ABI, commented, "This is a major
additional distribution deal for HPF4 and serves to highlight the
increasing worldwide medical importance of the test. Trinity Biotech is an
impressive business, which is ideally positioned to penetrate new markets
with our product. We are pleased to be widening the distribution through
Trinity Biotech of our HPF4 product, which we believe must become a
standard of care in anticoagulant therapy across the globe."
About Akers Biosciences.
Since 1989, ABI's team of Research and Development specialists has taken
an aggressive approach to advancing the science of diagnostics while
responding to major shifts in healthcare. Instead of waiting hours or even
days for test results, its innovative, unit-use devices can be performed
in minutes, to facilitate time-sensitive therapeutic decisions.
ABI is headquartered in North America in Thorofare, New Jersey USA, with a
European office located in London, England. For additional information,
please see www.akersbiosciences.com
About Trinity Biotech
Trinity Biotech 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.
The products are used to detect infectious diseases and blood coagulation
disorders, 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.
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 commercialization and technological
difficulties, and other risks detailed in the Company's periodic reports
filed with the Securities and Exchange Commission.
Contact:
Trinity Biotech plc
Niamh Long
Investor Relations Officer
(353)-1-2769800
Email Contact
Joe Diaz, Joe Dorame, Robert Blum
Lytham Partners, LLC
(602) 889-9700
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