Exhibit 99.1
T2 Biosystems Announces Extension of Multi-Year Capital Equipment Supplier Agreement with Vizient, Inc.
LEXINGTON, Mass., March 28, 2024 (GLOBE NEWSWIRE) — T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, today announced that its multi-year capital equipment supplier agreement with Vizient, Inc., the largest member-driven health care performance improvement company in the United States, has been extended through March 31, 2025. The products covered under the contract with Vizient include the T2Dx® Instrument, the T2Bacteria® Panel and the T2Candida® Panel, which detect sepsis-causing bacterial and fungal pathogens directly from whole blood.
“We are pleased to extend our multi-year agreement with Vizient, the nation’s largest group purchasing organization. This reiterates the continued value that our products offers to patients suspected of sepsis,” stated John Sperzel, Chairman and CEO of T2 Biosystems. “We believe there is a strong need for hospitals to have more effective rapid diagnostics that enable faster targeted therapy and this contract with Vizient improves hospitals’ access to our life-saving technology.”
Through the extended contract, Vizient members will continue to have access to broader exposure and contracted pricing for the T2Dx® Instrument, the T2Bacteria® Panel and the T2Candida® Panel, the only FDA-cleared products able to detect sepsis-causing pathogens directly from blood.
Vizient serves a wide range of health care organizations that represent a combined purchasing volume of approximately $100 billion annually and includes more than 50 percent of the nation’s acute care hospitals, 95 percent of all academic medical centers, and 20 percent of the country’s ambulatory market.
About T2 Biosystems
T2 Biosystems, a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, 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, the T2Bacteria® Panel, the T2Candida® Panel, the T2Resistance® Panel, and the T2Biothreat™ Panel, and are powered by the proprietary T2 Magnetic Resonance (T2MR®) technology. T2 Biosystems has an active pipeline of future products, including the U.S. T2Resistance Panel, the Candida auris test, and the T2Lyme™ Panel. For more information, please visit www.t2biosystems.com.
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 likelihood that Vizient members will adopt the Company’s products, as well as statements that include the words “expect,” “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
