TRINITY BIOTECH PLC ANNOUNCES MAJORITY OWNERSHIP OF DISEASE DETECTION INTERNATIONAL INC.
DUBLIN, Ireland, Oct. 19 /PRNewswire/ -- Trinity Biotech plc (NASDAQ: HIVSY, HIVWS, HIVZF) announced today that it had taken direct majority voting ownership of Disease Detection International, Inc. (OTC Bulletin Board: DOTS) by conversion of the debenture stock note previously held by an intermediary. Commenting on the conversion, Dr. Anthony Nicholls, CEO, said, "Trinity, in taking a more active participation in Disease Detection International, is encouraged by signs of improved performance and in particular the signing of major contracts for the supply of both the one-step pregnancy test and HIV tests. The direct shareholding simplifies Trinity's capital structure and should remove uncertainty in the marketplace as to our relationship with Disease Detection International." Trinity Biotech plc has completed the development of, and put into commercial production, its rapid HIV 1/2 saliva and HIV 1/2 blood tests. Both of these products are in clinical trials for regulatory approval in various countries worldwide. The company's HIV 1/2 rapid saliva test is the only such test in existence or available for sale worldwide, having recently been approved for sale in Ireland. -0- 10/19/93 /CONTACT: Ronan O'Caoimh of Trinity Biotech, in Ireland, 01-29-55-1111; Michael Hubbard of Sovereign Ventures, 503-227-0643; or Thomas M. Dean of Innovative Research Associates, 212-421-2543/ (HIVSY DOTS)
CO: Trinity Biotech plc; Disease Detection International, Inc. ST: IN: MTC SU:
GK-SH -- NY077 -- 4069 10/19/93 14:29 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Oct 19, 1993|
|Previous Article:||LISC/NEF ANNOUNCE $1.5 BILLION COMMUNITY RENEWAL COMMITMENT; CLEVELAND TO RECEIVE $30 MILLION TO DEVELOP HOUSING AND REVITALIZE COMMUNITY|
|Next Article:||CITIZENS FIRST BANCORP, INC. REPORTS 111 PERCENT INCREASE IN THIRD QUARTER EARNINGS; FIVE-FOLD IMPROVEMENT FOR NINE MONTHS|