TrivarX (ASX: TRI) eyes breakthrough in brain cancer detection with Stabl-Im acquisition and $4.2m raise
In a bold pivot towards the bleeding edge of neuro-oncology diagnostics, Perth-based TrivarX (ASX: TRI) has inked a deal to acquire the intellectual property behind a novel brain imaging platform, Stabl-Im™, from biotech outfit Nucleics Pty Ltd. The technology, which promises to detect brain tumours earlier and more safely than current MRI methods, could be a genuine game-changer in the clinical management of brain metastases - a condition that afflicts up to one in five adult cancer patients.
The Stabl-Im platform uses stable isotope labelling to flag replicating cells — a biological hallmark of tumour growth absent in healthy adult brain tissue. The kicker? It can be visualised using standard MRI equipment, meaning no radioactive tracers or invasive biopsies. This is particularly significant, given current MRI-based surveillance can only detect tumours once they've reached 2-3mm in size, often too late for meaningful intervention.
As TrivarX Chairman David Trimboli put it: “This transaction marks an important evolution for TrivarX, firmly strengthening our position in the neurological diagnostics sector, while providing exposure to the fast-growing brain cancer imaging market.”
Trimboli's optimism isn’t just PR fluff. The global neuro-oncology diagnostics market is tipped to hit US$2.5 billion by 2030, and the brain metastases treatment segment could balloon to US$8.8 billion by 2035. In a field where survival is measured in weeks post-diagnosis, the ability to detect tumours earlier - and more safely - could materially change patient outcomes.
Dr Daniel Tillett
Backing the science is biotech heavyweight Dr Daniel Tillett, founder and CEO of Nucleics and also the Managing Director of Race Oncology (ASX: RAC). Dr Tillett isn't just licensing out his IP; he’s cornerstoning a $4.2 million placement with a $500,000 personal investment. That kind of skin in the game rarely goes unnoticed in biotech circles.
“We developed the Stabl-Im IP with the vision to transform how clinicians can detect and monitor metastatic brain tumours - safely, non-invasively, and earlier than ever before,” said Dr Tillett. “TrivarX's experience and commitment to diagnostics and precision neuro-medicine make them the ideal partner.”
The $4.2 million placement, priced at $0.008 per share - a 30% discount to the 15-day VWAP - will fund the transaction and accelerate clinical development. Directors have also thrown in $200,000 (subject to shareholder approval), adding a further layer of conviction. The capital raise is structured in two tranches, with Perth-based JP Equity Partners taking the lead manager role.
Clinical work is scheduled to begin in earnest, with manufacturing and regulatory pre-submissions planned for the US and EU. A Phase 1 trial, aimed at assessing safety and imaging precision, is pencilled in for calendar year 2026. If successful, performance milestones will trigger the issue of up to 750 million shares a significant kicker for Nucleics, tied to trial outcomes.
Importantly, TrivarX isn’t throwing the rest of its toolkit out with the petri dish. Stabl-Im complements its existing work in mental health diagnostics, including MEB-001 and its AI-powered ECG platform for detecting Major Depressive Episodes. With a foot firmly in both neurological and psychiatric territory, the company appears to be positioning itself as a diagnostics platform play - not just a one-trick biotech pony.
For a small-cap, TRI’s aspirations are big, and the backing of a figure like Dr Tillett lends the endeavour a degree of credibility. That said, the path from IP acquisition to clinical success is long, expensive, and littered with risk. But for investors keen on frontier medtech with global upside, this is one ticker worth watching - particularly as the Phase 1 trial looms.
The real test, as always, will be in the clinic. If Stabl-Im lives up to its billing, TrivarX could find itself not just diagnosing brain tumours earlier - but rewriting the rules of engagement for neuro-oncology altogether.