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T2 Biosystems, Inc. announced a non-binding letter of intent to partner with ECO Laboratory for the development of the T2Lyme Panel, a test for early Lyme disease detection. The panel aims to improve upon current antibody tests by providing quicker and more accurate results within 30 days of infection. The company plans to launch the product in the third quarter of 2024.
T2 Biosystems, Inc. (NASDAQ:TTOO) has announced a territory exclusive distribution agreement in Qatar to sell T2Dx® Instruments, the T2Bacteria® Panel, the T2Candida® Panel, and the T2Resistance® Panel through a new distributor. The agreement expands the company's commercialization in the Middle East, catering to Qatar's strong focus on sepsis care. The move aims to enable rapid detection of sepsis-causing pathogens and antibiotic resistance genes, enhancing targeted therapy delivery.
T2 Biosystems, a leader in sepsis detection, announced Q1 2024 financial results, showing 25% growth in sepsis product revenue. They converted $30M debt into equity, signed key agreements, and focused on product development.
T2 Biosystems announced the conversion of $15 million of its term loan into equity, reducing total debt by 80% over the past year. The company exchanged debt for shares, strengthening its balance sheet. This move provides financial flexibility for advancing commercial and development priorities.