T2 Biosystems Announces Distribution Agreements in Key Asia-Pacific Markets

Rhea-AI Summary

T2 Biosystems has made a significant move in its international expansion by entering the Asia-Pacific market through exclusive distribution agreements in Singapore and South Korea. The company will distribute the T2Dx® Instruments and panels for the rapid detection of sepsis-causing pathogens. The shipment of two instruments to Singapore and a purchase order for four more to South Korea marks the commencement of this initiative. With sepsis incidents high in this region, T2 Biosystems aims to improve patient care by providing advanced diagnostic solutions.

Positive

• Execution of exclusive distribution agreements in Singapore and South Korea.
• Initial shipments of T2Dx Instruments to Singapore and South Korea indicate market entry.
• The Asia-Pacific market presents a significant growth opportunity given the high sepsis incidence.

Negative

• None.

Expands International Commercialization with Initial Shipment of T2Dx Instruments to Asia

LEXINGTON, Mass., Oct. 21, 2021 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens, today announced the execution of territory exclusive distribution agreements in Singapore and South Korea. Under the terms of the agreements, T2 Biosystems will sell T2Dx® Instruments, along with T2Bacteria^®, T2Candida^® and T2Resistance^® Panels through these distributors.

The execution of these exclusive distribution agreements marks T2 Biosystems’ entry in the Asia-Pacific market. According to the Asia Pacific Sepsis Alliance, the estimated national sepsis incidences in this region ranges from 120 up to 1,600 per 100,000¹. Together, T2 Biosystems and its new distribution partners are collaborating with health authorities in Singapore and South Korea to gain regulatory approvals and offer patients the highest quality sepsis care available, beginning with a purchase of two T2Dx Instruments that was shipped to Singapore in September and a purchase order for four T2Dx Instruments to be shipped to South Korea by year-end.

"Strategically, Singapore and South Korea are ideal locations to establish our foothold in the Asia-Pacific market. We look forward to building lasting relationships with our distributors and customers in the region and believe this market represents a meaningful growth opportunity with further potential to expand,” said John Sperzel, Chairman and CEO of T2 Biosystems. “Sepsis does not discriminate geographically as the Asia-Pacific region has the highest number of patients affected by sepsis globally. We are excited to make our culture-independent rapid diagnostics solution available in the region.”

About T2 Biosystems
T2 Biosystems, a leader in the rapid detection of sepsis-causing pathogens, 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, the T2Bacteria^® Panel, the T2Resistance® Panel, and the T2SARS-CoV-2™ Panel and are powered by the proprietary T2 Magnetic Resonance (T2MR^®) technology. T2 Biosystems has an active pipeline of future products, including the T2Cauris™ Panel, and T2Lyme™ Panel, as well as additional products for the detection of bacterial and fungal pathogens and associated antimicrobial resistance markers, and biothreat pathogens.

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 the ability of T2’s culture-independent diagnostics to improve the standard of care for patients at risk of sepsis and to expand in the Asia-Pacific region, 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, 2019, filed with the U.S. Securities and Exchange Commission, or SEC, on March 16, 2020, 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.

¹ https://www.asiapacificsepsisalliance.org/sepsis

Media Contact:
Meagan Dominick, Vault Communications
mdominick@vaultcommunications.com
773-369-4255

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

 

FAQ

What is T2 Biosystems' recent expansion in Asia?

T2 Biosystems has entered the Asia-Pacific market by signing exclusive distribution agreements in Singapore and South Korea for its T2Dx Instruments and sepsis detection panels.

When did T2 Biosystems ship its first T2Dx Instruments to Asia?

T2 Biosystems shipped two T2Dx Instruments to Singapore in September 2021 and has a purchase order for four instruments to be shipped to South Korea by year-end 2021.

What are the products being distributed by T2 Biosystems in Asia?

T2 Biosystems is distributing T2Dx Instruments along with T2Bacteria, T2Candida, and T2Resistance Panels in Asia.

What is the significance of the Asia-Pacific market for T2 Biosystems?

The Asia-Pacific market is crucial for T2 Biosystems due to the high prevalence of sepsis in the region, representing a meaningful growth opportunity for the company.

Which countries are involved in T2 Biosystems' new distribution agreements?

T2 Biosystems has signed exclusive distribution agreements in Singapore and South Korea.