MELVILLE, N.Y., Sept. 22, 2016 /PRNewswire/ -- Canon
U.S.A., Inc., a leader in digital
imaging solutions, today announced that it has made an equity
investment in T2 Biosystems, Inc., a company developing innovative
diagnostic products to improve patient health. Through this
investment, Canon U.S.A. has
purchased approximately 40 million
dollars of the company's stock at the closing market price
of $6.56 in a private placement,
resulting in Canon's ownership of approximately 19.9 percent of T2
Biosystems. Canon U.S. Life Sciences, Inc., a wholly owned
subsidiary of Canon U.S.A. began
working with T2 Biosystems back in February of 2015 to develop a
diagnostic test panel for rapidly detecting Lyme disease.
Canon has invested in diagnostics research over the years. Most
recently, Canon established Canon BioMedical to enhance organic and
inorganic growth of molecular diagnostics business within the
company.
"We recognize that both T2 Biosystems and Canon U.S.A. are aligned in working towards the same
goal and as such, we are pleased to strengthen our relationship and
look forward to bringing future innovative diagnostic products to
market that can improve patient health," said Joe Adachi, chairman and CEO, Canon U.S.A., Inc. "Investments to companies like T2
is another example of Canon's commitment in healthcare."
"The strong backing and commitment we have received from Canon
will help us continue to strengthen our business and accelerate our
efforts to bring new products to market," said John McDonough, chief executive officer of T2
Biosystems, Inc. "We look forward to continuing our partnership
with Canon."
Seymour Liebman , executive vice
president, chief administrative officer and general counsel, Canon
U.S.A, Inc. will join T2
Biosystems Board of Directors.
About T2 Biosystems
T2 Biosystems is focused on
developing innovative diagnostic products to improve patient
health. With two FDA-cleared products targeting sepsis and a range
of additional products in development, T2 Biosystems is an emerging
leader in the field of in vitro diagnostics. The Company is
utilizing its proprietary T2 Magnetic Resonance platform, or T2MR,
to develop a broad set of applications aimed at lowering mortality
rates, improving patient outcomes and reducing the cost of
healthcare by helping medical professionals make targeted treatment
decisions earlier. T2MR enables the fast and sensitive detection of
pathogens, biomarkers and other abnormalities in a variety of
unpurified patient sample types, including whole blood, eliminating
the time-consuming sample prep required in current methods. For
more information, please visit www.t2biosystems.com.
About Canon U.S. Life Sciences, Inc.
Founded in 2002
and located in Rockville,
Maryland, Canon U.S. Life Sciences, Inc., is a subsidiary of
Canon U.S.A., Inc., dedicated to
identifying and developing diagnostic solutions to help address
unmet medical needs and improving human health.
About Canon BioMedical, Inc.
Canon BioMedical, Inc. a
wholly owned subsidiary of Canon U.S.A., Inc., is focused on empowering the
biomedical research and healthcare communities by developing,
manufacturing, and marketing innovative technologies and solutions.
The technologies and solutions developed will help enable
clinicians and scientists to improve our health and advance
science. Canon BioMedical will continue to pursue innovative
solutions in line with Canon's Kyosei philosophy of social
and environmental responsibility through the use of existing and
emerging Canon technology as well as strategic partnerships.
About Canon U.S.A.,
Inc.
Canon U.S.A., Inc., is
a leading provider of consumer, business-to-business, and
industrial digital imaging solutions to the United States and to Latin America and the Caribbean (excluding Mexico) markets. With approximately
$31 billion in global revenue, its
parent company, Canon Inc. (NYSE:CAJ), ranked third overall in U.S.
patents granted in 2015† and is one of Fortune Magazine's World's
Most Admired Companies in 2016. Canon U.S.A. is committed to the highest level of
customer satisfaction and loyalty, providing 100 percent U.S.-based
consumer service and support for all of the products it
distributes. Canon U.S.A. is
dedicated to its Kyosei philosophy of social and
environmental responsibility. In 2014, the Canon Americas
Headquarters secured LEED® Gold certification, a recognition for
the design, construction, operations and maintenance of
high-performance green buildings. To keep apprised of the latest
news from Canon U.S.A., sign up
for the Company's RSS news feed by visiting www.usa.canon.com/rss
and follow us on Twitter
@CanonUSA.
†Based on weekly patent counts issued by United States Patent
and Trademark Office.
Canon U.S.A.
website:
http://www.usa.canon.com
For sales information/customer
support:
1-800-OK-CANON
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SOURCE Canon U.S.A., Inc.