T2 Biosystems to Participate in Sepsis Alliance Summit

Rhea-AI Summary

T2 Biosystems (NASDAQ:TTOO) is participating in the inaugural Sepsis Alliance Summit on September 16-17, 2020, to raise sepsis awareness during September, which is Sepsis Awareness Month. The summit, organized by the Sepsis Alliance, underscores the urgent need for rapid diagnostic tests for sepsis and COVID-19. T2's virtual booth will present its products, including the T2SARS-CoV-2™ Panel, which recently received Emergency Use Authorization from the FDA. Sepsis claims approximately 270,000 lives in the U.S. annually and costs the healthcare system nearly $41 billion.

LEXINGTON, Mass., Sept. 16, 2020 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens, today announced that it is participating in the virtual, inaugural Sepsis Alliance Summit taking place September 16-17, 2020, through a sponsorship and virtual booth in honor of Sepsis Awareness Month (September).

The Summit was designed by the Sepsis Alliance, the leading sepsis organization in the U.S. and working in all 50 states to save lives and reduce suffering from sepsis, to explore an array of sepsis-related topics in health care as well as highlight the needs for more sensitive and rapid diagnostics tests for COVID-19. T2 Biosystems’ virtual booth will feature information on the Company’s products for the rapid detection of sepsis-causing pathogens – directly from whole blood and without the need to wait for blood culture – as well as for the detection of SARS-CoV-2, the virus responsible for COVID-19 infections.

“Sepsis Awareness Month helps to save lives by raising awareness of sepsis, the leading cause of death in U.S. hospitals. Sepsis costs the U.S. healthcare system nearly $41 billion annually and results in the death of approximately 270,000 Americans each year,” said John Sperzel, President and Chief Executive Officer of T2 Biosystems. “We are proud to join the Sepsis Alliance and industry members in critical discussions about the importance of rapid diagnostic technology, which holds the key to improving outcomes for patients with bloodstream infections, sepsis, and the COVID-19 virus which can lead to sepsis.”

Weeks prior, T2 Biosystems received Emergency Use Authorization from the U.S. Food and Drug Administration (FDA) for its COVID-19 molecular diagnostic test, the T2SARS-CoV-2™ Panel. The panel runs on the Company’s FDA-cleared and fully-automated T2Dx^® Instrument, which is capable of performing seven tests simultaneously.

The T2Dx Instrument can also run the Company’s FDA-cleared T2Bacteria^® Panel and T2Candida^® Panel. These panels are the only FDA-cleared assays for the detection of sepsis-causing bacterial and fungal pathogens directly from whole blood in three to five hours, without the need to wait days for blood culture results. By providing quicker results, the panels enable clinicians to target therapy faster for their patients suspected of sepsis, often before the second dose of antimicrobial is administered, leading to better patient outcomes, improved antimicrobial stewardship, and reductions in length of stay in the hospital.

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^TM 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^TM Panel, and T2Lyme ^TM Panel, as well as additional products for the detection of bacterial and fungal pathogens and associated antimicrobial resistance markers, as well as 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 potential impact of rapid diagnostics on outcomes for patients with bloodstream infections, sepsis and the COVID-19 virus,the T2Dx® Instrument’s simultaneous testing capacity, the benefit of early identification of bacterial or fungal infections, 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.

Media Contact:
Gina Kent, Vault Communications
gkent@vaultcommunications.com  
610-455-2763

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

FAQ

What is T2 Biosystems' participation in the Sepsis Alliance Summit on September 16-17, 2020?

T2 Biosystems is participating in the Sepsis Alliance Summit to promote awareness of sepsis and to showcase its rapid diagnostic tests for sepsis and COVID-19.

What is the significance of Sepsis Awareness Month for T2 Biosystems?

Sepsis Awareness Month aims to raise awareness about sepsis, which is the leading cause of death in U.S. hospitals, and T2 Biosystems contributes by discussing rapid diagnostics.

What products will T2 Biosystems feature at the Sepsis Alliance Summit?

T2 Biosystems will showcase its rapid detection products, including the T2SARS-CoV-2™ Panel and other assays for sepsis-causing pathogens.

What recent FDA approval did T2 Biosystems receive?

T2 Biosystems received Emergency Use Authorization from the FDA for its T2SARS-CoV-2™ Panel, which detects the COVID-19 virus.

How does sepsis impact healthcare costs in the U.S.?

Sepsis costs the U.S. healthcare system nearly $41 billion annually and results in approximately 270,000 deaths each year.