09:45 AM EDT, 10/25/2024 (MT Newswires) -- Trinity Biotech ( TRIB ) said Friday it acquired a 12.5% stake in Novus Diagnostics, a company developing a rapid sepsis testing platform, valued at $2.5 million.

The biotechnology company said it made the investment in Novus Diagnostics by issuing approximately 1.4 million American depository shares and that it values Novus Diagnostics at $20 million post-investment.

The investment will support the development and commercialization of Novus Diagnostics' point-of-care diagnostic products, including a 15-minute bloodstream infection test, Trinity Biotech ( TRIB ) said.