T2 Biosystems Reports Granting of Inducement Awards
September 07 2018 - 7:00AM
T2 Biosystems, Inc. (NASDAQ:TTOO), an emerging leader in the
development and commercialization of innovative medical diagnostic
products for critical unmet needs in healthcare, announced today
that on September 5, 2018 it issued inducement awards to three new
employees.
These awards were made under T2 Biosystems’ Inducement Award
Plan (the "Inducement Plan"), which was adopted by the company’s
Board of Directors on March 1, 2018 and provides for the granting
of equity awards to new employees of T2 Biosystems. The inducement
awards consist of options to purchase 22,750 shares of T2
Biosystems common stock and have a ten-year term. The exercise
price of the options is $6.63, which was the per-share closing
price of T2 Biosystems common stock on the Nasdaq Capital Market on
September 4, 2018. The options vest over a four-year period, with
25% vesting on the first anniversary of the employee’s date of hire
and the remainder vesting in equal monthly installments over the
three years thereafter. The award was approved by the independent
compensation committee of T2 Biosystems’ board of directors and was
granted as an inducement material to the new employee entering into
employment with T2 Biosystems in accordance with Nasdaq Marketplace
Rule 5635(c)(4).
About T2 Biosystems:T2 Biosystems, an emerging
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.
Media Contact:Gina Kent, Vault
Communicationsgkent@vaultcommunications.com610-455-2763
Investor Contact: Matthew Clawson, W2O
Groupmclawson@w2ogroup.com949-370-8500
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