Trinity Biotech Announces Cancer Diagnostics Agreement with Centocor Inc.

Dublin, Ireland, July 8, 1997 Trinity Biotech plc (NASDAQ:TRIBY) today announced that it had signed an agreement with Centocor Inc., (NASDAQ:CNTO) a U.S. biotechnology company in which it obtained rights to develop, manufacture, market and distribute Enzyme Immunoassays (EIA) and rapid tests based on Centocorís serum tumour markers. The financial terms of the agreement were not disclosed. Additionally, it completed its acquisition of Centocor Incís UK infectious diseases business.

Centocor is recognised as the world leader in the development of tumour markers. Trinity will develop both rapid and laboratory EIA tests including CA15-3ô (breast cancer), CA125ô (ovarian cancer), CA19-9ô (pancreatic cancer), CA72-4ô (gastrointestinal cancer) and free and total prostate specific antigen (PSA). The availability of Centocorís free and total PSA markers will enhance Trinityís own Uni-Gold PSA rapid test, which is in the final stages of development. These products are in vitro diagnostic blood tests used by physicians to monitor the growth or disappearance of tumours before and after treatment and are selectively used by physicians to diagnose and monitor the development of cancers in patients. Trinity expects to develop these products over the next 18 months enabling it to take advantage of this new and growing diagnostic market. The current world-wide diagnostic market for cancer markers is $400 million.

This market is set to increase significantly following the decision by the FDA in September 1996 to re-classify a category of tumour marker diagnostics used for monitoring purposes as 510-k products. The FDA decision increases the likelihood and speed of approvals for these products.

Commenting on the announcement David P. Holveck, President and CEO of Centocor stated ìwe look forward to working with Trinity on the development of the rapid and EIA microtitre format of this product lineî.

Commenting on the agreement Ronan OíCaoimh, Chief Executive of Trinity stated ìthe development of these tests represents a very exciting opportunity for Trinity to create a significant position in the large and expanding cancer diagnostics market. Trinity has long sought an entree into oncology diagnostics - we could not do better than secure the Centocor range of cancer markers. Most of the existing testing is conducted using the proprietary ìclosedî testing machinery owned by the large diagnostic companies. Trinity believes it will generate a significant market in the easy-to-use ìopenî EIA systems. We believe that there is large potential for rapid point-of-care and over-the-counter tests. Having secured the rights to develop rapid tests with the Centocor markers we will endeavour to capitalise on this opportunity and lead in the evolution of this marketî.

Certain statements contained in this release are forward-looking. Although Trinity Biotech plc believes that its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results will not differ materially from its expectations. For factors that may cause actual results to differ materially form expectations and underlying assumptions, see reports by Trinity Biotech plc filed with the Securities and Exchange Commission.

Trinity Biotech develops, manufactures and markets rapid tests for the clinical laboratory, point-of-care and over-the-counter markets.

For further information: Jonathan OíConnell, Trinity Biotech 800 603 8076 or
Robert Long, LongView Partners 212 463 9733