Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > T2 Biosystems Raises $10.8 Million in Series B Financing: Industry Leader Stan Lapidus Joins Board of Directors

Abstract:
T2 Biosystems, Inc., a company developing the first portable medical diagnostic products which combine nanotechnology and miniaturized magnetic resonance (MR) technology, today announced that it has raised $10.8 million in a Series B financing. Proceeds from the financing will be used to accelerate the development of T2 Biosystems' revolutionary rapid diagnostic platform.

T2 Biosystems Raises $10.8 Million in Series B Financing: Industry Leader Stan Lapidus Joins Board of Directors

Cambridge, MA | Posted on October 17th, 2008

The company's initial investors, Flagship Ventures, Polaris Venture Partners and Flybridge Capital Partners were joined by new investors Partners Healthcare and In-Q-Tel in the round. T2 Biosystems previously closed a $5.5 million Series A financing in 2006.

"We are excited about the growing recognition of the value of our unique, miniaturized diagnostic platform and that we are attracting financial commitment from investors of this caliber underscores the significant progress of our team over the past two years," said John McDonough, CEO of T2 Biosystems. "Our mission is to revolutionize medical diagnostics and dramatically improve patient care by enabling immediate, accurate testing for almost any health condition, in nearly any setting and this funding allows us to continue to develop our initial panel of diagnostic tests and continue to advance our instrument development through beta testing."

The company also announced the addition of Stanley N. Lapidus to the Company's Board of Directors. Mr. Lapidus is an experienced life-science entrepreneur, having founded three highly successful life science diagnostic start-ups including Cytyc Corporation.

"We are honored to have Stan join our board as he has been an instrumental and legendary figure in the diagnostics industry for more than two decades," said McDonough. "Stan is joining our board at a very exciting time at T2, and the combination of his scientific knowledge and business acumen will serve us well as we continue to grow the business."

"The breakthrough field of miniaturized MR technology represents an entirely new approach for developing highly efficient and portable diagnostics, and T2 Biosystems has all the necessary components to establish a dominant position in the space," said Mr. Lapidus. "T2's progress to date has been extremely impressive and I am looking forward to working with the outstanding team in place to help bring this revolutionary technology to the marketplace."

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 to develop rapid, accurate and portable diagnostics. 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, Inc.
T2 Biosystems is a private biotechnology company developing next-generation medical diagnostic products using its proprietary technology, combining nanotechnology and miniaturized magnetic resonance (MRI) 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 click here

Contacts:
Yates Public Relations
Adriana Jenkins
617-744-1713

Copyright © Business Wire 2008

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Tiny nanoclusters could solve big problems for lithium-ion batteries February 21st, 2017

Strem Chemicals and Dotz Nano Ltd. Sign Distribution Agreement for Graphene Quantum Dots Collaboration February 21st, 2017

Nominations Invited for $250,000 Kabiller Prize in Nanoscience: Major international prize recognizes a visionary nanotechnology researcher February 20th, 2017

Breakthrough with a chain of gold atoms: In the field of nanoscience, an international team of physicists with participants from Konstanz has achieved a breakthrough in understanding heat transport February 20th, 2017

'Lossless' metamaterial could boost efficiency of lasers and other light-based devices February 20th, 2017

Imaging

Strem Chemicals and Dotz Nano Ltd. Sign Distribution Agreement for Graphene Quantum Dots Collaboration February 21st, 2017

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

Harris & Harris Group Announces the Filing of Preliminary Proxy Materials Detailing Its Proposed Conversion From a BDC to a Registered Closed-End Fund January 24th, 2017

Harris & Harris Group Issues Reminder for Shareholder Update Call on January 10, 2017 January 10th, 2017

Harris & Harris Group Announces a Proposed Strategic Restructuring December 20th, 2016

Harris & Harris Group Issues Letter to Shareholders and Information for Shareholder Call on Tuesday, November 15, 2016 November 14th, 2016

Nanomedicine

Nominations Invited for $250,000 Kabiller Prize in Nanoscience: Major international prize recognizes a visionary nanotechnology researcher February 20th, 2017

Good vibrations help reveal molecular details: Rice University scientists combine disciplines to pinpoint small structures in unlabeled molecules February 15th, 2017

In-cell molecular sieve from protein crystal February 14th, 2017

Cedars-Sinai, UCLA Scientists Use New ‘Blood Biopsies’ With Experimental Device to Speed Cancer Diagnosis and Predict Disease Spread: Leading-Edge Research Is Part of National Cancer Moonshot Initiative February 13th, 2017

Announcements

Tiny nanoclusters could solve big problems for lithium-ion batteries February 21st, 2017

Strem Chemicals and Dotz Nano Ltd. Sign Distribution Agreement for Graphene Quantum Dots Collaboration February 21st, 2017

Oxford Instruments announces Dr Brad Ramshaw of Cornell University, as winner of the 2017 Lee Osheroff Richardson Science Prize February 20th, 2017

Breakthrough with a chain of gold atoms: In the field of nanoscience, an international team of physicists with participants from Konstanz has achieved a breakthrough in understanding heat transport February 20th, 2017

Appointments/Promotions/New hires/Resignations/Deaths

Francis Alexander Named Deputy Director of Brookhaven Lab's Computational Science Initiative February 16th, 2017

Nanobiotix appoints senior executive from pharmaceutical industry, as Chief Operating Officer: Oncology industry veteran to oversee operations and product commercialization February 8th, 2017

Dr Barbara Armbruster promoted to Worldwide Sales and Marketing Director for XEI Scientific September 27th, 2016

Dr Barbara Armbruster joins XEI Scientific as Marketing Director June 1st, 2016

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project