TTOO - T2 Biosystems announces BARDA exercise of contract option 3 valued at $3.7M

• Biomedical Advanced Research and Development Authority (or BARDA) is providing T2 Biosystems ( NASDAQ: TTOO ) an additional $3.7M in funding for the multiple-year cost-share contract.
• BARDA is a part of the Office of the Assistant Secretary for Preparedness and Response at the U.S. Department of Health and Human Services.
• The total potential BARDA funding if all contract options are exercised is $62M, reflecting a reduction in the scope of work under contract option 3.
• "We are pleased to advance the U.S. clinical trials for the T2Resistance Panel and T2Biothreat Panel, in collaboration with BARDA, and subsequently file submissions with FDA for U.S. regulatory clearance. These new products will expand the test menu on our T2Dx Instrument and have the potential to reduce the threat of antimicrobial resistance and protect the nation from biothreat pathogens.” stated John Sperzel, Chairman and CEO.

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