T2 Biosystems Receives $1.4 Million DOE Grant
Cambridge, MA -- T2 Biosystems, Inc., a company developing the first point-of-care medical diagnostic products that enable rapid molecular and immunodiagnostic testing on a single instrument today announced it has been awarded a grant for $1.4 million from the U.S. Department of Energy (DOE). The sponsored project leverages the company's core technology to detect nucleic acid sequences - such as contaminates in water --with virtually no sample preparation for the purpose of environmental testing.
T2 Biosystems proprietary technology is based on clinically-proven magnetic resonance technology and uses superparamagnetic nanoparticles coupled with reagents to quickly detect-within minutes-the presence of specific substances in solution using a miniaturized, portable instrument.
"This grant is a continued validation of the breakthrough potential of T2 Biosystems' revolutionary technology and underscores the numerous applications our technology can bring to bear on human health," said John McDonough, CEO of T2 Biosystems. "This grant will be used in part to fund the development of our first commercial instrument including development of an alpha version of the instrument this year and to accelerate the development of our molecular diagnostic capabilities."
T2 Biosystems is developing the next generation of medical diagnostic products through its proprietary technology, which combines nanotechnology and the miniaturization of proven MR technology. T2 Biosystems magnetic resonance-based diagnostics are poised to offer improved speed, accuracy and efficiency as well as portability to a broader range of settings including doctor's offices, homes and hospitals.
T2 Biosystems' technology has been validated in multiple published journal articles and has shown to accurately analyze viruses, bacteria, proteins, hormones, DNA, small molecules and other diagnostic targets. The Company is developing a pipeline of diagnostic products based on its technology, including devices for hospitals, diagnostic laboratories and medical offices, as well as individual patients.
About T2 Biosystems
T2 Biosystems is a private biotechnology company developing next-generation medical diagnostic products using its proprietary technology, combining nanotechnology and miniaturized magnetic resonance (MR) technology to provide rapid, accurate and portable diagnostics. T2 Biosystems was founded in 2006 by renowned researchers from the Massachusetts Institute of Technology, Harvard University, Harvard Medical School and Massachusetts General Hospital, and has assembled a world-class team, board of directors and scientific advisory board that collectively have a proven track record of translating technologic innovations into breakthrough products, building significant corporate value. T2 Biosystems is
located in Cambridge, Massachusetts. For more information, please visit the company's website at www.t2biosystems.com.
