T2 Biosystems Promotes Tony Pare to Chief Commercial Officer
January 13 2020 - 7:30AM
T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the development
of innovative diagnostic products for critical unmet needs in
healthcare, today announced that its Chief Executive Officer (CEO),
John Sperzel, has promoted Tony Pare to the newly created position
of Chief Commercial Officer (CCO), effective immediately. Mr. Pare
previously served as Vice President and General Manager –
International at T2 Biosystems.
“I am delighted to appoint Tony as our CCO and
look forward to working with him to expand our commercial success,”
said Mr. Sperzel. “In his previous role as Vice President and
General Manager – International, he led the expansion and
growth of our international business and I am confident that he
will serve as a driving force of success and rapid growth in the
Company’s next phase.”
Mr. Pare has significant commercial and business
development experience, including 18 years at Haemonetics
Corporation (NYSE: HAE), a global healthcare company. While at
Haemonetics, he served as a commercial leader, driving growth in
two of its most successful divisions, as well as Vice President of
Business Development, Mergers and Acquisitions, where he was
responsible for all external growth initiatives. Before joining T2
Biosystems, Mr. Pare served as CCO for Hemanext, where for three
years, he led pre-revenue market development.
“As someone who has spent his life’s work in the
medical device and diagnostics industry, I recognize the unique
clinical value T2 Biosystems’ technology brings to patients
suspected of sepsis, and am thrilled to have the opportunity to
serve as CCO for the Company and help to lead further expansion and
utilization of our innovative, rapid diagnostics,” said Mr. Pare.
“With T2 Biosystems’ technology, clinicians can rely less on
empiric therapy and apply more targeted treatment by knowing the
pathogen in a patient’s bloodstream in a matter of hours instead of
days. I look forward to working with our sales force and
distribution partners to help get these groundbreaking diagnostics
into more hospitals where they can help benefit patients.”
The Company’s T2Bacteria® Panel is the only
FDA-cleared test to identify sepsis-causing bacterial pathogens
directly from whole blood without the need to wait for blood
culture. Its counterpart for fungal bloodstream infections is the
T2Candida® Panel, the first and only FDA-cleared direct-from-whole
blood diagnostic for detection of fungal pathogens that are
associated with sepsis. Both panels provide results in three to
five hours instead of days, allowing for quick, targeted treatment.
These rapid diagnostics can help save lives, reduce healthcare
costs and manage antimicrobial drug usage.
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,
T2Bacteria® Panel, and the T2Resistance Panel™, and 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
T2 Biosystems (NASDAQ:TTOO)
Historical Stock Chart
From Mar 2024 to Apr 2024
T2 Biosystems (NASDAQ:TTOO)
Historical Stock Chart
From Apr 2023 to Apr 2024