T2 Biosystems, a provider of the rapid detection of sepsis-causing pathogens and antibiotic resistant genes, completed the successful amendment and extension to its term loan agreement with CRG Servicing (CRG).
The amendment extends both the interest-only period and the maturity date by one year from Dec. 30, 2023 to Dec. 30, 2024. No other material amendments were made to the term loan agreement.
“We continue to be excited by T2 Biosystems’ direct-from-blood diagnostic technology and its ability to rapidly detect sepsis-causing pathogens and antibiotic resistance genes,” Luke Düster, partner at CRG, said. “We are pleased to extend our partnership and financial support and we are encouraged by the company’s progress, including the record third quarter sepsis revenue and pipeline developments, including Lyme disease.”
“The extension of our term loan agreement with CRG is important, as it provides balance sheet flexibility as we advance our growth strategy,” John Sperzel, chairman and CEO at T2 Biosystems, said. “We value our partnership with CRG and we appreciate the continued support of our business strategy.”
