T2 Biosystems Announces Commercial Expansion Through Distributor in Baltic Region
September 22 2022 - 04:05PM
T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection
of sepsis-causing pathogens and antibiotic resistant genes, today
announced the execution of a territory exclusive distribution
agreement in the Baltic Region, including Lithuania, Latvia, and
Estonia. Under the terms of the agreement, T2 Biosystems will sell
T2Dx® Instruments, along with T2Bacteria®, T2Candida® and
T2Resistance® Panels through the distributor.
The execution of this exclusive distribution
agreement further expands T2 Biosystems’ commercialization.
Epidemiology studies have shown that the Baltic region has a higher
average incidence of sepsis per population than Western Europe.1
There have been national guidelines in the region to address the
impact of sepsis.2 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 Lithuania, Latvia, and
Estonia,” said John Sperzel, Chairman and CEO of T2 Biosystems. “We
believe these three countries represent additional growth potential
for our culture-independent rapid diagnostics and look forward to
building lasting relationships with our newly-appointed distributor
as we work to improve the quality of care for patients at risk of
sepsis.”
About T2 BiosystemsT2
Biosystems, a leader in the rapid detection of sepsis-causing
pathogens and antibiotic resistant genes, 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.
Forward-Looking StatementsThis
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
Lithuania, Latvia and Estonia, 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 23, 2022, 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.
Investor Contact:Philip Trip
Taylor, Gilmartin Groupphilip@gilmartinIR.com 415-937-5406
____________________________
1
https://www.thelancet.com/cms/10.1016/S0140-6736(19)32989-7/attachment/65105799-6ced-49c1-8bb8-83fc1fec01ed/mmc1.pdf2
https://eestiarst.ee/en/management-of-severe-sepsis-and-septic-shock-in-estonia-a-summary-of-clinical-audit/
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