T2 Biosystems Announces Distribution Agreements in Key Asia-Pacific Markets
October 21 2021 - 4:05PM
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 Singapore and South
Korea. 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 marks
T2 Biosystems’ entry in the Asia-Pacific market. According to the
Asia Pacific Sepsis Alliance, the estimated national sepsis
incidences in this region ranges from 120 up to 1,600 per 100,0001.
Together, T2 Biosystems and its new distribution partners are
collaborating with health authorities in Singapore and South Korea
to gain regulatory approvals and offer patients the highest quality
sepsis care available, beginning with a purchase of two T2Dx
Instruments that was shipped to Singapore in September and a
purchase order for four T2Dx Instruments to be shipped to South
Korea by year-end.
"Strategically, Singapore and South Korea are ideal locations to
establish our 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
meaningful growth opportunity with further potential to expand,”
said John Sperzel, Chairman and CEO of T2 Biosystems. “Sepsis does
not discriminate geographically as the Asia-Pacific region has the
highest number of patients affected by sepsis globally. We are
excited to make our culture-independent rapid diagnostics solution
available in the region.”
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 ability of
T2’s culture-independent diagnostics to improve the standard of
care for patients at risk of sepsis and to expand in the
Asia-Pacific region, 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.
1 https://www.asiapacificsepsisalliance.org/sepsis
Media Contact:Meagan Dominick, Vault
Communicationsmdominick@vaultcommunications.com 773-369-4255
Investor Contact:Philip Trip Taylor, Gilmartin
Groupphilip@gilmartinIR.com 415-937-5406
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