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T2 Biosystems to sell $8M in private placement for working capital and general corporate purposes

May 16, 2024•about 1 year ago

Amount Raised

$8 Million

LexingtonBiotechnologyHealth CareManufacturing

Investors

H.C. Wainwright & Co.

Description

T2 Biosystems has signed an agreement to sell approximately $8 million in shares and warrants to a group of investors for working capital and general corporate purposes. The private placement is expected to close on or about May 17.

Company Information

Company

T2 Biosystems

Location

Lexington, Massachusetts, United States

About

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, the T2BiothreatTM Panel, and the T2SARS-CoV-2TM Panel and are powered by the proprietary T2 Magnetic Resonance (T2MR®) technology. T2 Biosystems has an active pipeline of future products, including the expanded T2Bacteria Panel to add Acinetobacter baumannii, the Candida auris test, and the T2LymeTM Panel, as well as next-generation products for the detection of bacterial and fungal pathogens and associated antimicrobial resistance markers.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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