LEXINGTON, Mass., July 18, 2016 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a company developing innovative diagnostic products to improve patient health, has signed a multi-year agreement to provide T2 Biosystems’ T2 Magnetic Resonance technology platform, or T2MR®, for Bayer’s research and development efforts in blood coagulation disorders. This collaboration will develop tools and evaluate assays to help drive drug discovery and biomarker research for select Bayer hemostasis-related programs.
The sensitivity of T2MR in blood coagulation (hemostasis) research allows for the rapid and comprehensive monitoring of drug side effects in animal models and patients.
"We are very enthusiastic about our collaboration with Bayer and the important validation it represents for our T2MR technology in the field of hemostasis," said John McDonough, chief executive officer of T2 Biosystems. "Together with Bayer, we look forward to continuing the exploration of the clinical potential of our platform to provide improved patient care in this area of significant unmet need.”
The companies have been working together for the last year and recently extended the collaboration to include a number of pre-clinical and early clinical programs. This collaboration will enable T2 Biosystems and Bayer to evaluate the T2MR technology with the hemostasis drug discovery and development efforts at Bayer.
T2MR is a diagnostic detection method utilizing miniaturized magnetic resonance technology that measures how water molecules react in the presence of magnetic fields. The T2MR technology platform offers a fast, simple and sensitive alternative to existing diagnostic methodologies. T2MR technology powers all of the diagnostic innovation at T2 Biosystems and enables the detection of a variety of different targets including molecular targets, immunodiagnostics and a broad range of hemostasis measurements. Additionally, by incorporating the T2MR diagnostic platform into clinical trials, drug developers have the potential to dramatically enrich patient populations, which could result in decreased timelines and reduced cost of trials. Another key benefit to drug developers is the potential to have patients diagnosed rapidly enough to avoid courses of empiric therapy prior to the administration of the investigational drug, which could help to achieve clinical superiority.
About T2MR in Hemostasis
The first stage of wound healing, hemostasis, is a complex interaction of proteins and biochemical signals regulating the balance between bleeding and blood clotting. Patients with impaired hemostasis are either unable to promote the formation of blood clots to stabilize excessive bleeding or are hypercoaguable, with clots forming when they are not medically necessary. For hemostasis measurements, T2MR is highly sensitive to changes in viscosity in a blood sample (such as clot formation, stabilization or dissipation), which alter the magnetic resonance signal and enable identification of clinically relevant hemostasis changes. The T2MR-based hemostasis platform is being developed to provide a wide range of hemostasis diagnostics, including measurements of platelet activity, fibrinolysis and clotting time, directly from a blood volume not more than a finger stick amount of blood sample.
About T2 Biosystems
T2 Biosystems is focused on developing innovative diagnostic products to improve patient health. With two FDA-cleared products targeting sepsis and a range of additional products in development, T2 Biosystems is an emerging leader in the field of in vitro diagnostics. The Company is utilizing its proprietary T2 Magnetic Resonance platform, or T2MR, to develop a broad set of applications aimed at lowering mortality rates, improving patient outcomes and reducing the cost of healthcare by helping medical professionals make targeted treatment decisions earlier. T2MR enables the fast and sensitive detection of pathogens, biomarkers and other abnormalities in a variety of unpurified patient sample types, including whole blood, eliminating the time-consuming sample prep required in current methods. The T2Candida® Panel and the T2Dx® Instrument were cleared for marketing by the U.S. Food and Drug Administration (FDA) in September 2014 for the detection of sepsis-causing Candida. T2Candida Panel performance was established in adult subjects. T2Candida Panel performance in neonates, infants and pediatric patients has not been established. For more information, please visit www.t2biosystems.com.
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. 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, the performance of the Company's diagnostic products and the ability to bring such products to market. 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. For more information on risk factors for T2 Biosystems, Inc.’s business, please refer to the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 9, 2016, under the heading “Risk Factors,” and other filings the Company makes with the Securities and Exchange Commission from time to time. 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, it disclaims any obligation to do so, even if subsequent events cause its views to change. 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.
Source:T2 Biosystems, Inc.