T2 Biosystems announces distribution agreements in Key
LEXINGTON, Mass., Oct. 21, 2021 (GLOBE NEWSWIRE) – T2 Biosystems, Inc. (NASDAQ: TTOO), a leader in the rapid detection of pathogens causing sepsis, today announced the signing of distribution agreements exclusive territory to Singapore and South Korea. Under the terms of the agreements, T2 Biosystems will sell T2DxÂ® Instruments, as well as T2BacteriaÂ®, T2CandidaÂ® and T2 ResistanceÂ® Panels through these distributors.
The signing of these exclusive distribution agreements marks T2 Biosystems’ entry into the Asia-Pacific market. According to the Asia Pacific Sepsis Alliance, the estimated national incidence of sepsis in this region ranges from 120 to 1,600 per 100,000.1. Together, T2 Biosystems and its new distribution partners are working with health authorities in Singapore and South Korea to obtain regulatory approvals and provide patients with the highest quality care available, starting with the purchase of two T2Dx instruments. which were shipped to Singapore in September and an order form for four T2Dx instruments to be shipped to South Korea by the end of the year.
âStrategically, Singapore and South Korea are ideal locations to gain a foothold in the Asia-Pacific market. We look forward to building lasting relationships with our distributors and customers in the region and believe this market represents a significant growth opportunity with potential for further expansion. “said John Sperzel, Chairman and CEO of T2 Biosystems.” Sepsis does not discriminate geographically because the Asia-Pacific region has the highest number of sepsis patients in the world. We are delighted to make our culture independent rapid diagnostic solution available in the region. “
About T2 Biosystems
T2 Biosystems, a leader in the rapid detection of pathogens causing sepsis, is dedicated to improving patient care and reducing costs of care by helping clinicians treat patients effectively faster than ever before. T2 Biosystems products include T2DxÂ® Instrument, T2CandidaÂ® Panel, T2 bacteriaÂ® Panel, Panel T2ResistanceÂ® and Panel T2SARS-CoV-2 â¢ and are powered by proprietary T2 Magnetic Resonance (T2MRÂ®) Technology. T2 Biosystems has an active pipeline of future products, including the T2Cauris â¢ panel and T2Lyme â¢ panel, as well as additional products for the detection of bacterial and fungal pathogens and associated antimicrobial resistance markers, and biomaterial pathogens. .
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 historical facts should be considered as forward-looking statements, including, without limitation, statements regarding the ability of T2 culture independent diagnostics to improve the quality of care for patients at risk of sepsis and to thrive in the Asia-Pacific region, as well as statements that include the words “expect”, “intend”, “plan”, “believe”, “plan”, “foresee”, “estimate”, “can”, “should”, “anticipate” and similar statements future or prospective in nature. These forward-looking statements are based on the current expectations of management. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors which may cause actual results, performances or achievements to differ materially from the future results, performances or achievements expressed or implied by forward-looking statements. , including, but not limited to, (i) any failure to (a) realize the expected benefits of commitments, contracts or products; (b) successfully execute strategic priorities; (c) place the products on the market; (d) expand the use or adoption of the product; (e) obtain testimonials from clients; (f) accurately predict growth assumptions; (g) achieve expected revenues; (h) incur planned levels of operating expenses; or (i) increase the number of high risk patients in client facilities; (ii) failure of early data to predict eventual outcomes; (iii) failure to make or obtain FDA statements or clearances on time or not at all; or (iv) the factors discussed in point 1A. âRisk Factorsâ in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, filed with the United States Securities and Exchange Commission, or SEC, March 16, 2020, and other documents filed by the company 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 contained in this press release. These forward-looking statements represent management’s estimates as of the date of this press release. Although the Company may choose to update these forward-looking statements at some time in the future, unless required by law to do so, it disclaims any obligation to do so, even if subsequent events result in a change in opinion. Thus, no one should assume that the Company’s silence over time means that actual events materialize as expressed or implied in these forward-looking statements. These forward-looking statements should not be taken as representing the views of the Company as of a date subsequent to the date of this press release.
Meagan Dominick, Communications Vault
Philip Trip Taylor, Gilmartin Group