The Medical Device Business Journal — Medical Device News & Articles | MassDevice
T2 Biosystems said it’s launched a clinical trial of its MR-based test for a fungus that’s a common cause of deadly hospital-acquired infections.
The Lexington, Mass.-based company said it plans to use the study results to back a regulatory submission for the T2Candida test for the Candida fungus, estimated to cause some 100,000 cases of candidemia each year in the U.S.
When MassDevice.com last spoke with T2 Biosystems CEO John McDonough, in August 2009, the 22-worker firm was still developing a novel use for MRI technology – diagnostics.
T2’s device uses magnetic resonance to identify pathogens in just about any kind of sample, eliminating the need for time-consuming blood culture work.
T2 Biosystems, which is developing a diagnostic device that uses magnetic resonance technology to deliver nearly instant test results, said it raised a $40 million Series E round it plans to use for its T2Candida test for a common cause of hospital-acquired infections.
T2 Biosystems Inc. closed a $23 million series D funding round this week, which will support its ongoing development and clinical trials and the company inches closer to a FDA bid and commercialization.
This latest round was led by new investor Aisling Capital LLC, and joined by existing investors Flagship Ventures, Polaris Venture Partners, Flybridge Capital Partners, Physic Ventures, Partners Healthcare, Arcus Ventures, RA Capital, Camros Capital and WS Investments.
In conjunction with the funding, Aisling Capital principal Dr. Josh Bilenker joins T2’s board of directors.
T2 Biosystems Inc. says its new blood test for the cause of a deadly blood pathogen could help make huge reductions in the mortality rate in people infected with the fungus Candida.
Namal Nawana is the new president of DePuy Spine, succeeding Gary Fischetti, who was named chairman of the DePuy group in January by its corporate parent, Johnson & Johnson (NYSE:JNJ).
Nawana, a 13-year vet at the New Brunswick, N.J.-based medical products conglomerate, pulled stints in several areas, including engineering, marketing, sales and general management in Europe, Canada, Australia and the Asia Pacific, according to a press release.
T2 Biosystems Inc. hired the Cambridge, U.K.-based consulting firm Sagentia to shepherd the development of its portable diagnostics system.
The Cambridge, Mass.-based start-up is developing nano- and miniaturized magnetic resonance-based technology for use in a bench-top instrument for small molecule diagnostics, according to Sagentia.
In May, T2 raised $15 million in a Series C funding round to support the development of the technology.
T2 Biosystems Inc. raised about $15 million in a Series C funding round it plans to use to bring its benchtop MRI-based diagnostic device to market.
The Cambridge, Mass.-based firm said Physic Ventures led the round, along with new backers Arcus Ventures, RA Capital, Camros Capital, WS Investments and existing investors Flagship Ventures, Polaris Venture Partners, Flybridge Capital Partners and Partners Healthcare.
T2 Biosytems Inc., the Cambridge, Mass.-based developer of a benchtop MRI device, named Ken Toso vice president of product development.
Toso comes to the company from Worcester, Mass.-based portable glucose monitor maker Grove Instruments, where he served as senior vice president of engineering. Prior to his stint at Grove, Toso was vice president of research & development for the oncology division of Boston Scientific Corp. (NYSE:BSX).
John McDonough, CEO of Cambridge, Mass.-based T2 Biosystems Inc., is an optimist.
Bullish on his 22-employee company’s prospects (the estimated $40 billion diagnostics market might have something to do with that), McDonough (far left in the picture at right) spoke with MassDevice about the technology behind T2’s diagnostic device, which uses a miniaturized version of a magnetic resonance imaging machine to deliver near-instant test results from just about any blood, urine or saliva sample.
