SYDNEY: TrivarX Ltd (ASX: TRI) said on Thursday it will acquire the intellectual property for Stabl-Im™, a novel brain cancer imaging technology, from Australian biotech firm Nucleics Pty Ltd, in a deal aimed at expanding its diagnostics portfolio into neuro-oncology.
The Perth and Minneapolis-based company has entered a binding option agreement to acquire 100% of the IP, which enables safe, non-invasive detection of brain tumours using stable isotope-labelled MRI. The platform targets replicating cells—a hallmark of tumour growth—offering earlier detection than current MRI methods, which typically identify tumours only after reaching 2–3mm in size.
TrivarX will raise A$4.2 million through a two-tranche share placement to fund the acquisition and clinical development. The placement includes a A$500,000 cornerstone investment from Nucleics founder and Race Oncology (ASX: RAC) CEO Dr Daniel Tillett, and A$200,000 from TrivarX directors, subject to shareholder approval.
A Phase 1 clinical trial is scheduled for calendar year 2026, with manufacturing and regulatory preparations already underway. The company said the technology could address a major unmet need in brain metastases, which affect up to 20% of adult cancer patients and have limited treatment options.
Deferred consideration includes up to 750 million performance shares tied to successful Phase I and II trial outcomes. TrivarX said the acquisition complements its existing mental health diagnostics pipeline, including its MEB-001 and single-lead ECG algorithm for detecting major depressive episodes.
JP Equity Partners acted as lead manager for the placement.