T2 Biosystems Announces Continued International Expansion into Taiwan with Exclusive Distribution Agreement
LEXINGTON, Mass., Nov. 19, 2021 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens, today announced the execution of a territory exclusive distribution agreement in Taiwan.
Under the terms of the agreement, T2 Biosystems will sell T2Dx® Instruments, along with T2Bacteria®, T2Candida® and T2Resistance® Panels through this distributor. The execution of this distribution agreement includes an initial purchase of three T2Dx Instruments and marks T2 Biosystems’ third entry in the Asia-Pacific market during the last 30 days.
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. The incidence of sepsis is 287 per 100,000 people in Taiwan and a recent analysis estimated the national health expenditure of 33.5 billion NT dollars for sepsis hospitalizations was higher than those for cancer and diabetes, estimated at 23.0 billion and 1.5 billion NT dollars, respectively.1,2 T2 Biosystems and its new distribution partner are collaborating with the health authorities in Taiwan to gain regulatory approval and offer patients the highest quality sepsis care available.
"We look forward to building lasting relationships with our distributor and customers in Taiwan and believe this market represents a meaningful growth opportunity,” said John Sperzel, Chairman and CEO of T2 Biosystems. “The Asia-Pacific region has the highest number of patients affected by sepsis globally. We are excited to make our rapid, culture-independent diagnostics solution available in Taiwan.”
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.
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 Taiwan and 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.
For more information, visit www.T2Biosystems.com.
Meagan Dominick, Vault Communications
Philip Trip Taylor, Gilmartin Group
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