T2 Biosystems® has closed a $23-million series D financing to support progress toward regulatory approval for its T2MR medical diagnostic technology, designed to rapidly detect Candida, a fungal pathogen known to cause blood-stream infections and sepsis. Led by new investor Aisling Capital, LLC, the financing round garnered additional support from existing investors Flagship Ventures, Polaris Venture Partners, Flybridge Capital Partners, Physic Ventures, Partners Healthcare, Arcus Ventures, RA Capital, Camros Capital, and WS Investments.
According to T2 Biosystems®, the company is pushing its T2MR technology through clinical trials and expects to submit it for Food and Drug Administration approval in the second half of 2012. “The T2MR technology is a direct detection diagnostic method that eliminates the need for sample purification and growth of blood cultures and provides sensitive and rapid results in less than two hours, compared to current standards that require one or more days,” the company said. T2 Biosystems also plans to use the new funding to develop additional diagnostic tests for sepsis, infectious disease, therapeutic drug monitoring, and coagulation. See T2 Biosystems Press Release, August 10, 2011.