Contract includes initial phase valued at $6 million, with a total value up to $69 million
Call will also cover restructuring of CRG term loan agreement and Breakthrough Technology contract with Premier Inc.
Company to host conference call and webcast at 8:30 a.m. ET on Wednesday, September 11, 2019
LEXINGTON, Mass., Sept. 10, 2019 (GLOBE NEWSWIRE) — T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the development of innovative diagnostic products for critical unmet needs in healthcare, announced today it will host a conference call and webcast to discuss the up to $69 million milestone-based contract it was awarded from the Biomedical Advanced Research and Development Authority (BARDA), which will enable a significant expansion of the Company’s current portfolio of diagnostics for sepsis-causing pathogens and antibiotic-resistance genes. Information related to the BARDA contract is available in an 8-K filed with Securities and Exchange Commission today (available here). The conference call with also cover the restructuring of the Company’s term loan agreement with CRG Servicing LLC and its Breakthrough Technology contract with Premier Inc.
Management will host a conference call with the investment community on Wednesday, September 11, 2019 at 8:30 a.m. Eastern Time. Interested parties may access the live call via telephone by dialing 1-877-407-9208 (U.S.) or 1-201-493-6784 (International) using conference ID 13694458. To listen to the live call via T2 Biosystems’ website, go to www.t2biosystems.com, in the Investors/Events & Presentations section. A webcast replay of the call will be available following the conclusion of the call, also in the Investors/Events & Presentations section of the website.
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, which was recently announced as the first and only in-vitro diagnostic test to receive approval for a New Technology Add-on Payment by the United States Centers for Medicare & Medicaid Services, 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.
Gina Kent, Vault Communications
Zack Kubow, W2O Group