T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens, today announced the execution of territory exclusive distribution agreements in Singapore and South Korea. Under the terms of the agreements, T2 Biosystems will sell T2Dx® Instruments, along with T2Bacteria®, T2Candida® and T2Resistance® Panels through these distributors.
The execution of these exclusive distribution agreements marks T2 Biosystems’ entry in the Asia-Pacific market. According to the Asia Pacific Sepsis Alliance, the estimated national sepsis incidences in this region ranges from 120 up to 1,600 per 100,0001. Together, T2 Biosystems and its new distribution partners are collaborating with health authorities in Singapore and South Korea to gain regulatory approvals and offer patients the highest quality sepsis care available, beginning with a purchase of two T2Dx Instruments that was shipped to Singapore in September and a purchase order for four T2Dx Instruments to be shipped to South Korea by year-end.
“Strategically, Singapore and South Korea are ideal locations to establish our foothold in the Asia-Pacific market. We look forward to building lasting relationships with our distributors and customers in the region and believe this market represents a meaningful growth opportunity with further potential to expand,” said John Sperzel, Chairman and CEO of T2 Biosystems. “Sepsis does not discriminate geographically as the Asia-Pacific region has the highest number of patients affected by sepsis globally. We are excited to make our culture-independent rapid diagnostics solution available in the region.”
