T2 Biosystems Announces Plans to Consolidate and Expand Facilities in Massachusetts
LEXINGTON, Mass., Sept. 08, 2021 (GLOBE NEWSWIRE) -- 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.
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