New strong owner for Fiomi
Fiomi acquired by Irish based Trinity Biotech (NasdaqGS: TRIB)
Trinity to commit significant resource to bringing new products to market
Business to remain in Uppsala, Sweden
A&D and nxt2b to become shareholders in Trinity
Agreement values company at US$13.1 million
Alfvén & Didrikson Invest AB (A&D) and Nexttobe AB (nxt2b) have executed an agreement with Irish based, Nasdaq listed, Trinity Biotech plc (Trinity), under the terms of which Trinity becomes the new owner of Fiomi Diagnostics AB (Fiomi).
Fiomi, which is based in Uppsala, Sweden, is at an advanced stage in developing a panel of point-of-care cardiac marker assays based on a technology platform invented by the Fiomi Team. This platform is capable of providing extremely sensitive, highly reproducible, quantitative, multiplexed results making it significantly more accurate than the current established point-of-care tests in the market.
A&D and nxt2b have put significant effort into ensuring a sustainable solution for Fiomi and are delighted to see Trinity as Fiomi’s new owner. Fiomi’s business will continue to be based in Uppsala, Sweden. A&D and nxt2b will become minority shareholders in Trinity.
About A&D Founded in 2010, Stockholm based Alfvén & Didrikson Invest AB is wholly owned by Måns Alfvén and Hjalmar Didrikson. It invests in small and mid sized privately owned European companies. Alfvén & Didrikson AB provides advice to Alfvén & Didrikson Invest AB and other companies in relation to their investments. For more information please visit www.alfvendidrikson.com
About nxt2b nxt2b was started in 2011 by the Swedish entrepreneur Bengt Ågerup. nxt2b has the ambition to be a leading venture capital/private equity firm with focus on growth equity investments in healthcare, medical devices and specialty pharmaceutical companies. nxt2b also invests in technology and consumer companies. nxt2b has invested in more than 25 companies. nxt2b supports its portfolio company management teams to build market leading companies. For more information please visit www.nxt2b.com
About Fiomi Based in Uppsala, Sweden, Fiomi develops products for near patient testing that offer central lab performance in a reliable, easy to use and affordable format. For more information please visit www.fiomi.se
About Trinity Biotech plc 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 to quantify the level of Haemoglobin A1c and other chemi
stry 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.