T2 Biosystems Announces $40 Million Equity Investment by Partner Canon U.S.A.

9/22/16

LEXINGTON, Mass., Sept. 22, 2016 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a company developing innovative diagnostic products to improve patient health, today announced the purchase by Canon U.S.A., of approximately $40 million of the company’s stock in a private placement. The shares were purchased at $6.56, the closing market price of Tuesday, September 20, 2016. With this investment, Canon owns 19.9 percent of T2 Biosystems and Canon’s chief administrative officer and general counsel, Seymour Liebman has joined the company’s board of directors. This private placement closed on September 21, 2016.

“We are pleased to have the strong backing of our committed partner Canon – with whom we have been collaborating on Lyme disease product development since February of 2015,” said John McDonough, chief executive officer of T2 Biosystems. “Importantly, this financing puts us in a solid position to continue to grow the business, including furthering our launch of the T2Bacteria™ Panel into the market in 2017 and beyond. We expect the T2Bacteria Panel to be a critical catalyst for our overall sepsis commercial efforts, and we remain on track to submit our application for marketing clearance to the FDA by mid-2017.”

"Working closely with T2 Biosystems in the development of the Lyme disease diagnostic panel, we have come to appreciate the capabilities of its innovative diagnostic solutions,” said Joe Adachi, chairman and CEO, Canon U.S.A. “We are pleased to extend our relationship with T2 Biosystems and look forward to working together in the future.”

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration under the securities laws of any such jurisdiction.

These securities are being sold in a private placement that have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities Exchange Commission (SEC) or an applicable exemption from such registration requirements.

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. For more information, please visit www.t2biosystems.com.

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