T2 Biosystems Expands Global Access to its Innovative Rapid Diagnostic Technologies
July 26 2019 - 6:30AM
T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the development
of innovative diagnostic products for critical unmet needs in
healthcare, announced today that it entered into exclusive
distribution agreements with five new distribution partners in the
first half of 2019. This allowed the Company to introduce its rapid
diagnostic technologies, including the T2Bacteria® and T2Candida®
Panels, and enter into new markets in Estonia, Greece, Ireland,
Saudi Arabia and South Africa. In aggregate, these countries have
approximately 1,170 hospitals that could benefit from T2’s
products.
T2 Biosystems’ products are now available in 32
countries outside of the United States, in addition to a direct
commercial team in the United Kingdom.
“Our groundbreaking diagnostic panels rapidly detect
sepsis-causing bacterial and fungal pathogens directly from whole
blood, providing clinically actionable information that can enable
changes in patient outcomes. With rapid results, clinicians can
ensure their patients are on early and effective therapy, including
the de-escalation of unnecessary therapy, which can help address
concerns with antimicrobial resistance and hospital costs,” said
John McDonough, president and chief executive officer of T2
Biosystems. “Sepsis represents a major threat to global health and
these new distribution agreements will enable more patients and
clinicians to have access to the benefits of T2 technology. We look
forward to adding partners in new geographies in the second half of
the year and beyond.”
The T2Bacteria Panel is the first and only FDA-cleared test to
identify sepsis-causing bacterial pathogens directly from whole
blood in 3 to 5 hours without the need to wait for blood culture,
while the T2Candida Panel is the first and only FDA-cleared
direct-from-whole blood diagnostic for detection of fungal
pathogens that are associated with sepsis. The products are two of
several panels that are approved or in development that are run on
the Company’s T2Dx® Instrument, which is powered by miniaturized
magnetic resonance (T2MR®) technology.
About T2 Biosystems T2 Biosystems, a
leader in the development and commercialization of innovative
medical diagnostic products for critical unmet needs in healthcare,
is dedicated to improving patient care and reducing the cost of
care by helping clinicians effectively treat patients faster than
ever before. T2 Biosystems’ products include the T2Dx® Instrument,
T2Candida® Panel, and T2Bacteria® Panel and are powered by the
proprietary T2 Magnetic Resonance (T2MR®) technology. T2 Biosystems
has an active pipeline of future products, including products for
the detection of additional species and antibiotic resistance
markers of sepsis pathogens, and tests for Lyme disease.
Forward-Looking Statements This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. All statements
contained in this press release that do not relate to matters of
historical fact should be considered forward-looking statements,
including, without limitation, statements regarding additional
patients, timing of testing patients, anticipated product benefits,
strategic priorities, product expansion or opportunities, growth
expectations or targets, timing of FDA filings or clearances and
anticipated operating expenses, as well as statements that include
the words “expect,” “intend,” “plan”, “believe”, “project”,
“forecast”, “estimate,” “may,” “should,” “anticipate,” and similar
statements of a future or forward looking nature. These
forward-looking statements are based on management's current
expectations. These statements are neither promises nor guarantees,
but involve known and unknown risks, uncertainties and other
important factors that may cause actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements, including, but not limited to, (i) any
inability to (a) realize anticipated benefits from commitments,
contracts or products; (b) successfully execute strategic
priorities; (c) bring products to market; (d) expand product usage
or adoption; (e) obtain customer testimonials; (f) accurately
predict growth assumptions; (g) realize anticipated revenues; (h)
incur expected levels of operating expenses; or (i) increase the
number of high-risk patients at customer facilities; (ii) failure
of early data to predict eventual outcomes; (iii) failure to
make or obtain anticipated FDA filings or clearances within
expected time frames or at all; or (iv) the factors discussed under
Item 1A. "Risk Factors" in the company's Annual Report on Form 10-K
for the year ended December 31, 2018, filed with the U.S.
Securities and Exchange Commission, or SEC, on March 14, 2019, and
other filings the company makes with the SEC from time to
time. These and other important factors could cause actual
results to differ materially from those indicated by the
forward-looking statements made in this press release. Any such
forward-looking statements represent management's estimates as of
the date of this press release. While the company may elect to
update such forward-looking statements at some point in the future,
unless required by law, it disclaims any obligation to do so, even
if subsequent events cause its views to change. Thus, no one should
assume that the Company’s silence over time means that actual
events are bearing out as expressed or implied in such
forward-looking statements. These forward-looking statements
should not be relied upon as representing the company's views as of
any date subsequent to the date of this press release.
Media Contact: Gina Kent, Vault
Communications gkent@vaultcommunications.com
610-455-2763
Investor Contact: Zack Kubow, W2O Group
zkubow@w2ogroup.com 415-658-6436
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