TrivarX Faces Critical Shareholder Vote on $4.2M Raise and Brain Tumor Imaging Acquisition
TrivarX has reported promising interim results from its US veteran-focused mental health trial using ECG technology, while progressing a strategic acquisition of novel brain tumor imaging IP to broaden its diagnostic portfolio.
- Interim trial results show high sensitivity in detecting major depressive episodes
- Patient recruitment completed with 60 veterans enrolled in US trial
- Binding agreement signed to acquire Stabl-Im™ brain tumor imaging technology
- Post-quarter $4.2 million placement secured to fund acquisition and development
- Acquisition and capital raise subject to shareholder approval
Clinical Trial Progress and Interim Data
TrivarX Limited (ASX – TRI) has marked a significant milestone in its US veteran-focused mental health clinical trial, designed to screen for current major depressive episodes (cMDE) using its proprietary ECG-based technology. The trial, conducted in partnership with the Greater Los Angeles Veterans Research and Education Foundation and the US Department of Veterans Affairs, completed patient recruitment with 60 veterans enrolled at the West Los Angeles VA Medical Center.
Interim analysis from 27 patients revealed the single-lead ECG algorithm achieved a sensitivity of 94% and specificity of 64% in detecting cMDE, closely mirroring the performance of the MEB-001 algorithm. These results reinforce the potential of TrivarX’s non-invasive, data-driven diagnostic approach to provide scalable mental health screening tools in clinical settings.
Strategic Expansion into Neuro-Oncology
Alongside clinical progress, TrivarX has advanced its diagnostic portfolio by entering a binding intellectual property option agreement to acquire Stabl-Im™, a novel stable isotope imaging technology developed by Nucleics Pty Ltd. Stabl-Im enables early, non-invasive detection of brain tumors using standard MRI equipment, addressing a critical gap in neuro-oncology diagnostics where current imaging detects tumors only after they reach a certain size.
The acquisition positions TrivarX to enter the high-growth brain tumor imaging market, projected to exceed US$2.5 billion by 2030. The technology’s ability to detect tumor activity earlier could transform clinical decision-making and patient outcomes in brain cancer care.
Capital Raising and Future Outlook
To support these initiatives, TrivarX completed a $4.2 million placement post-quarter, led by prominent biotech investor Dr Daniel Tillett, CEO of Race Oncology and founder of Nucleics. The funds will be deployed to finalize the Stabl-Im acquisition, advance clinical development, and support ongoing operations. Both the acquisition and placement are subject to shareholder approval expected around mid-December.
Despite a modest cash balance of $0.587 million at quarter-end, the company’s strategic capital raise and pipeline milestones position it well for upcoming clinical readouts and regulatory engagement. TrivarX’s leadership highlights a clear vision to innovate at the intersection of neuroscience, cardiology, and imaging diagnostics, aiming to deliver objective, AI-driven tools for mental health and neuro-oncology.
Bottom Line?
With key trial results and a transformative acquisition on the horizon, TrivarX is poised for a pivotal phase that could reshape its diagnostic footprint and investor outlook.
Questions in the middle?
- Will the final clinical trial results confirm the promising interim sensitivity and specificity figures?
- How will the market and regulatory bodies respond to the Stabl-Im technology’s potential in neuro-oncology?
- What are the timelines and milestones for first-in-human studies and commercialization post-acquisition?
