LEXINGTON, Mass., Sept. 15, 2017 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO) today announced the pricing of an underwritten registered public offering of 4,375,000 shares of common stock at a public offering price of $4.00 per share, before underwriting discounts, for gross proceeds of $17,500,000. T2 Biosystems has granted the underwriters a 30-day option to purchase up to an additional 656,250 shares of common stock at the public offering price, less the underwriting discount. All of the shares of common stock to be sold in the offering will be issued by T2 Biosystems. The offering is expected to close on or about September 19, 2017, subject to customary closing conditions.

Canaccord Genuity Inc. and Cantor Fitzgerald & Co. are acting as joint book-running managers for the offering. Janney Montgomery Scott LLC, JonesTrading Services LLC and WBB Securities, LLC are acting as co-managers.

About T2 Biosystems

T2 Biosystems is dedicated to developing in vitro diagnostic products to improve patient health. The Company has two FDA-cleared products, the T2Dx Instrument and T2Candida Panel targeting sepsis, and is utilizing its proprietary T2 Magnetic Resonance technology, or T2MR®, to develop additional applications aimed at lowering mortality rates, improving patient outcomes and reducing the cost of healthcare by helping medical professionals make targeted treatment decisions earlier. T2MR enables the detection of pathogens, biomarkers and other abnormalities in a variety of patient sample types, including whole blood.