LEXINGTON, Mass., Feb. 16, 2022 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens, today announced the execution of territory exclusive distribution agreements in Norway, Finland, and Türkiye. Under the terms of the agreements, T2 Biosystems will sell T2Dx® Instruments, along with T2Bacteria®, T2Candida® and T2Resistance® Panels through these distributors.
The execution of these exclusive distribution agreements further expands T2 Biosystems’ commercialization. Epidemiology studies have shown that Norway and Finland have experienced an increase in the incidence of blood stream infections (BSIs)1,2 while Türkiye endures a high prevalence of sepsis and a high mortality rate within hospital Intensive Care Units3. The introduction of the T2Dx Instrument and sepsis panels into these countries will allow rapid detection of sepsis-causing pathogens and antibiotic resistance genes, in hours instead of days, enabling clinicians to achieve targeted therapy, faster.
"We are committed to expanding our commercialization worldwide and these new distribution agreements provide access to important markets in Norway, Finland, and Türkiye,” said John Sperzel, Chairman and CEO of T2 Biosystems. “We believe these three countries represent significant growth potential for our culture-independent rapid diagnostics and look forward to building lasting relationships with our distributors as we work to improve the quality of care for those patients at risk of sepsis.”
About T2 Biosystems
T2 Biosystems, a leader in the rapid detection of sepsis-causing pathogens, 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, the T2Bacteria® Panel, the T2Resistance® Panel, and the T2SARS-CoV-2™ Panel and are powered by the proprietary T2 Magnetic Resonance (T2MR®) technology. T2 Biosystems has an active pipeline of future products, including the T2Cauris™ Panel, and T2Lyme™ Panel, as well as additional products for the detection of bacterial and fungal pathogens and associated antimicrobial resistance markers, and biothreat 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 matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the ability of T2’s culture-independent diagnostics to improve the standard of care for patients at risk of sepsis and to expand in Norway, Finland and Türkiye, 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, 2020, filed with the U.S. Securities and Exchange Commission, or SEC, on March 31, 2021, 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.
Meagan Dominick, Vault Communications
Philip Trip Taylor, Gilmartin Group
Source: T2 Biosystems, Inc.