Fast Company Names T2Biosystems One of the World’s Most Innovative Companies – For Battling Sepsis in Hours not Days
LEXINGTON, Mass., Feb. 20, 2019 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the development of innovative diagnostic products for critical unmet needs in healthcare, was recognized today by Fast Company among the top 10 of the world’s most innovative companies in the biotech category.
The complete list of winners, which also included Foundation Medicine, Alnylam and Amgen, consisted of 410 total companies chosen by a team of editors and reporters for Fast Company from thousands of applicants across the globe. The award comes just over 6 months after the launch of the T2Bacteria® Panel, the first and only FDA-cleared test to identify sepsis-causing pathogens directly from whole blood in 3 to 5 hours without the wait for blood culture, which can take 1 to 6 days or more. It is one of several panels that are approved or in development that are run on the Company’s T2Dx® Instrument, which is powered by miniaturized magnetic resonance (T2MR®) technology.
“We are truly grateful to the Fast Company editorial team for recognizing the tremendous opportunity our game-changing technology has to improve the management of bloodstream infections and sepsis, which is one of the most common, costly and deadly illnesses. A growing number of hospitals around the world are using our innovative solutions to effectively treat patients faster with the right therapy thanks to our ability to detect sepsis-causing pathogens more rapidly than blood cultures,” said John McDonough, president and chief executive officer of T2 Biosystems. “The launch of T2Bacteria represents a significant step forward in our mission to combat antimicrobial resistance, and reduce both unnecessary hospital expenses and sepsis-related deaths. Earning this honor from Fast Company demonstrates our breakthrough approach to sepsis management and potential to make a positive impact on both patients and clinicians through innovation.”
The T2Bacteria® Panel, which received U.S. Food and Drug Administration (FDA) clearance in May 2018, detects sepsis-causing bacterial pathogens direct from a blood draw in a matter of hours instead of days, allowing patients to be placed on targeted antibiotic therapy faster. For patients in septic shock, rapid targeted treatment is critical because it is estimated that each hour of delayed treatment increases mortality risk nearly eight percent1. Additionally, earlier targeted therapy can help offset the costs associated with sepsis, such as length of stay and readmission rates. The products ability to provide negative diagnostic results almost 25 times faster than blood culture may also help protect against the overuse of unnecessary antibiotic drugs.
The T2Bacteria panel is complemented by the T2Candida® Panel, which is the first and only FDA-cleared fungal pathogen detection panel that is performed direct from a blood draw without the wait for blood culture. The Company is also conducting a clinical trial to evaluate the diagnostic potential of the T2Lyme Panel, which is designed to provide greater accuracy in the diagnosis of Lyme disease, direct from whole blood. The T2Lyme Panel is being developed through a partnership between T2 Biosystems and Canon U.S. Life Sciences.
According to Fast Company, the Most Innovative Companies list “has been the definitive source for recognizing the organizations that are transforming industries and shaping society” since it began in 2008.
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, and T2Bacteria® 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.
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, 2017, filed with the U.S. Securities and Exchange Commission, or SEC, on March 19, 2018, 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 Kumar, A., et al, (2006). Duration of hypotension before initiation of effective antimicrobial therapy is the critical determinant of survival in human septic shock. Critical care medicine, 34(6), 1589-1596.
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