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.
LEXINGTON, Mass., July 26, 2019 (GLOBE NEWSWIRE) -- 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.
