The thematic is right currently on the ASX forartificial intelligence, add in a company which has spent 20m on R & D witha market cap of 9m @ $0.03 in the medical technology space and I think there isa compelling investment case.
In the last 6 months, TRI have completed a name change,finalised the appointment of a whole new board and consolidated the capitalstructure of the company. These changes represent the new, strategic directionof TrivarX and reflects the board’s vision in creating a vehicle that isstrongly leveraged in rewarding shareholders upon hitting their strategicobjectives.
The recently appointed board and management team haveexperienced considerable success in the U.S and global healthcare markets andinclude founding director/financiers of Race Oncology (RAC.ASX- $20m market cap2020 to $600m+ market cap 2021) and ResApp Health (RAP.ASX- $10m market cap2015 to $300m market cap 2016), which Pfizer eventually acquired in 2022 for$179m.
The company is over ½ way through their phase 2 trialswith the algorithm establishing an accurate diagnosis profile in phase 1 testing.From the phase 2 update, the algorithm is becoming more accurate the more it isused and tested with more data improving accuracy. The sensitivity and specificityimprovements have been significant, now far exceeding the current standard ofcare. For a FDA application to proceed, the current standard of care needs tobe exceeded, which is what the MEB-001 algorithm does.
In the event of securing a successful phase 2 result,there should be a lot of optionality for commercialisation of the algorithm. Interms of economics, med tech is unrivalled. GP margin in the space isexceptional and the total addressable market is 21m people in the USA alone.
