T2 Biosystems Announces Plans to Consolidate and Expand Facilities in Massachusetts
September 08 2021 - 5:20PM
T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid
detection of sepsis-causing pathogens, announced today plans to
consolidate its existing facilities and expand into a newly leased
facility in Billerica, Massachusetts. The Company will consolidate
its existing operations in Lexington, MA and Wilmington, MA into a
70,000 sq.ft. facility in Billerica, MA to accommodate current and
future growth. The move is expected to occur during the second half
of 2022.
“T2 Biosystems was born in Massachusetts and we are excited to
continue our growth in the Bay State,” stated John Sperzel,
Chairman and Chief Executive Officer at T2 Biosystems. “We expect
the new facility to provide benefits across our business, including
cost savings and efficiency, and strengthen our ability to attract
and retain outstanding talent in the highly competitive
Massachusetts life science space.”
Consistent with the Company’s corporate objective to enhance
operations, the new facility will include state-of-the art
laboratory and manufacturing space designed specifically to advance
the development and manufacturing of current and new products, and
allows the Company to simultaneously reduce operating costs.
About T2 BiosystemsT2 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.
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 benefits of
the new facility, 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, 2019, filed with the U.S.
Securities and Exchange Commission, or SEC, on March 16,
2020, 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.
Media Contact:Gina Kent, Vault
Communicationsgkent@vaultcommunications.com610-455-2763
Investor Contact:Philip Trip Taylor, Gilmartin
Groupphilip@gilmartinIR.com415-937-5406
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