T2 Biosystems to Showcase Latest Innovations at IDWeek 2019
October 02 2019 - 7:30AM
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 pathogens, 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 gkent@vaultcommunications.com 610-455-2763
Investor Contact: Zack Kubow, W2O Group
zkubow@w2ogroup.com 415-658-6436
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