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T2 Biosystems, GE Healthcare Bio-Sciences Enter Supply Agreement

NEW YORK (360Dx) – T2 Biosystems said on Thursday that it has entered into a supply agreement by which GE Healthcare Bio-Sciences will manufacture and supply proprietary superparamagnetic particles for use with T2 Bio's products.

Financial and other terms of the agreement were not disclosed.

In a filing with the US Securities and Exchange Commission, T2 Bio said that it entered into an agreement on March 15 by which it has become a non-exclusive reseller of the particles as part of its products used in clinical diagnostics and life sciences research globally.

Under the agreement, T2 Bio is obligated to meet certain minimum purchase requirements in each contract year during the term. Absent early termination, the agreement will remain in force until March 1, 2027, T2 Bio said.