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T2 Biosystems Announces Commercial Expansion Through Distributors in Europe and Asia

2024-02-15 16:02 ET - News Release

LEXINGTON, Mass., Feb. 15, 2024 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistant genes, today announced the execution of territory exclusive distribution agreements for new geographies in the Netherlands, Belgium, and Vietnam, as well as the re-entry into Switzerland. Under the terms of the agreements, T2 Biosystems will sell the T2Dx® Instrument, the T2Bacteria® Panel, the T2Candida® Panel, and the T2Resistance® Panel into these countries through our distribution partners.

The execution of these territory exclusive distribution agreements further expands T2 Biosystems’ commercial business internationally. In the Netherlands, 140,000 patients were admitted to the hospital with an infection. Belgium has launched a national sepsis action plan set to launch in April 2024 and it is estimated that over 40,000 Belgians develop sepsis each year. Vietnam is emerging economy that has also been identified as a hotspot for infectious diseases. In a study of five Asia-Pacific countries, Vietnam had the highest prevalence of resistance.

Finally, T2 Biosystems’ current distribution partner Biomedica, which secured the company’s second largest T2Dx Instrument contract in company history during 2023 in Poland, is re-entering the Switzerland market with T2 Biosystems’ sepsis products. In 2017, Switzerland data indicated that 19,000 patients suffered from sepsis and in 2023 a working group of leading clinicians called for a Swiss Sepsis National Action Plan. The introduction of the T2Dx Instrument and sepsis test panels into these countries will allow rapid detection of sepsis-causing pathogens and antibiotic resistance genes, in hours instead of days, enabling clinicians to achieve faster targeted therapy.    

"We are committed to expanding our commercialization worldwide and these new distribution agreements provide access to important markets in Europe and Asia,” said John Sperzel, Chairman and CEO of T2 Biosystems. “We believe these countries represent additional growth potential for our culture-independent rapid diagnostics and look forward to building lasting relationships with our newly appointed distributors as we work to improve the quality of care for patients at risk of sepsis.”

About T2 Biosystems
T2 Biosystems, a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, 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, the T2Bacteria® Panel, the T2Candida® Panel, the T2Resistance® Panel, and the T2Biothreat™ Panel, and are powered by the proprietary T2 Magnetic Resonance (T2MR®) technology. T2 Biosystems has an active pipeline of future products, including the U.S. T2Resistance Panel, the Candida auris test, and the T2Lyme™ Panel. For more information, please visit www.t2biosystems.com.

Investor Contact:
Philip Trip Taylor, Gilmartin Group
philip@gilmartinIR.com 
415-937-5406


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