LEXINGTON, Mass., Oct. 02, 2019 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the development of innovative diagnostic products for critical unmet needs in healthcare, announced today that it will showcase its latest rapid diagnostics for the detection of sepsis-causing pathogens, directly from whole blood, at IDWeek 2019 in Washington, D.C. from October 2 to 6.
At the conference – which brings together professionals in the infectious disease industry to meet, share experiences and develop collaborations – the Company will host daily in-booth presentations at booth 1026 that will demonstrate the clinical value of its rapid diagnostics through real-world, clinical case studies. Additionally, Sandy Estrada, PharmD, BCPS, Vice President of Medical Affairs at T2 Biosystems, will serve as a panelist in a session titled, “Rapid Diagnostics and Resistance: Making Sense of Now and the Future Part 2 – Mechanism-based Diagnostics for AMR.” The session will take place on Saturday, October 5, at 8:00 a.m.
“In addition to saving more lives, rapid detection of sepsis-causing pathogens can help reduce hospital costs and decrease the overuse of antimicrobial drugs, a contributing factor to the growing issue of resistance,” said Dr. Estrada. “We’re looking forward to sharing how our latest innovations can make a positive impact on these critical issues with like-minded peers who share our passion for improving antimicrobial stewardship and sepsis management.”
The T2Bacteria® and T2Candida® Panels – the only FDA-cleared panels that can detect sepsis-causing pathogens directly from a patient’s blood sample, without the need to wait for a blood culture – will be available for demonstration in the booth. Both panels utilize the same T2Dx® Instrument and can detect sepsis-causing pathogens in the bloodstream in three to five hours.
Additionally, the T2Bacteria and T2Candida Panels will be highlighted in seven poster presentations throughout the conference in addition to an eighth poster presentation from Jessica Snyder, PhD, from T2 Biosystems, titled, “Detection of Antibiotic Resistance Genes in Clinical Samples using T2 Magnetic Resonance (T2MR),” highlighting early study data generated with the T2Resistance™ Panel.
T2 Biosystems’ presence at IDWeek comes just a short time after the Company announced several key milestones. Recently, T2 Biosystems announced that the T2Resistance Panel, which received Breakthrough Device Designation from the Food and Drug Administration (FDA) earlier this year, is now available as a research use only (RUO) test in the United States. The T2Resistance Panel RUO detects 13 resistance genes from both gram-positive and gram-negative pathgens, and is the first system that can detect resistance markers directly from whole blood.
Additionally, the Company was recently awarded a milestone-based contract of initial value of $6 million with a potential value of up to $69 million, if all contract options are exercised, from the Biomedical Advanced Research and Development Authority (BARDA), within the Office of the Assistant Secretary for Preparedness and Response (ASPR) at the US Department of Health and Human Services (HHS). The Company’s T2Bacteria Panel also recently became the first in-vitro diagnostic test to receive approval for a New Technology Add-on Payment (NTAP) by the United States Centers for Medicare & Medicaid Services (CMS).
About T2 Biosystems T2 Biosystems, a 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, which was recently announced as the first and only in-vitro diagnostic test to receive approval for a New Technology Add-on Payment (NTAP) by CMS, 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.
Forward-Looking Statements 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 additional patients, timing of testing patients, anticipated product benefits, strategic priorities, product expansion or opportunities, growth expectations or targets, timing of FDA filings or clearances and anticipated operating expenses, 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, 2018, filed with the U.S. Securities and Exchange Commission, or SEC, on March 14, 2019, 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 Communications [email protected] 610-455-2763
Investor Contact: Zack Kubow, W2O Group [email protected] 415-658-6436
