Full Press Release Details
T2 Biosystems Announces CFO Transition
LEXINGTON, MA, February 5, 2018 (GLOBE NEWSWIRE) T2 Biosystems, Inc. (NASDAQ:TTOO) a leader in the development of innovative medical diagnostic
products for critical unmet needs in healthcare, today announced that John Sprague has been named chief financial officer.
Mr. Sprague is a highly
accomplished financial executive who brings an extensive array of financial experience to T2 Biosystems, including a demonstrated success and leadership in building out companies during high-growth periods. Mr. Sprague will report to T2
Biosystems chief executive officer John McDonough and will be responsible for all financial operations and strategy.
John joins us at a critical
time for T2 Biosystems. As we plan for the U.S. Launch of the T2Bacteria Panel and continued progression of our pipeline, we are excited to add John s years of leading financial operations within growing companies to T2, said John
McDonough, president and CEO. His proven capabilities in building out finance teams, along with his experience leading M&A, equity and debt financings and strong accounting background will be the perfect fit for T2 during this period of
growth and becoming a multi-product commercial company.
John McDonough continued, On behalf of the T2 Biosystems team, I want to thank
Darlene Deptula-Hicks for her contributions as CFO during this transition year and we wish her the best in her future endeavors.
was most recently the chief financial officer at Caliber Imaging & Diagnostics, Inc., a leading developer of digital pathology microscopy systems, where he was responsible for administration, finance and operations of a multi-site company
with international sales. Prior to Caliber Imaging & Diagnostics, Mr. John Sprague spent six years working in several financial positions at GE Healthcare, most recently being the chief financial officer of the US & Canada
Core Imaging Division, GE Healthcare s pharmaceutical business supplying contrast, Spect and PET imaging agents to heath care providers. Mr. John Sprague originally came to GE Healthcare through a merger with Xcellerex, Inc. where he was
the chief financial officer.
Mr. John Sprague received his bachelor s degree in accounting from Boston College.
T2 Biosystems, an emerging leader in the
field of in vitro diagnostics, is dedicated to saving lives and reducing the cost of healthcare by empowering clinicians to effectively treat patients faster than ever before. T2 Biosystems is focused on addressing critical unmet needs in healthcare
starting with sepsis, one of the deadliest and most expensive conditions in hospitals today. The T2Sepsis SolutionTM is a unique approach that combines the standard of care for the management of sepsis patients with T2 Biosystems products,
including the T2Dx Instrument and T2Candida Panel, and the T2Bacteria
Panel, which is commercially available in Europe and other countries that accept the CE mark and available for research use only in the U.S. Powered by the proprietary T2 Magnetic Resonance technology, or T2MR , the T2Sepsis Solution is proven to deliver better patient care and greater cost savings. Hospital customer experience has demonstrated faster time to effective treatment, shortened ICU and
hospital lengths of stay, reduced use of unnecessary antifungals, and millions of dollars in savings. T2 Biosystems has an active pipeline of future sepsis products including additional species and antibiotic resistance, as well as tests for Lyme
disease and hemostasis. For more information, please visit www.t2biosystems.com.
Amy Phillips, Feinstein Kean Healthcare
Chris Brinzey, Westwicke Partners