Healthcare Industry News: Hologic
News Release - January 3, 2008
T2 Biosystems Appoints John McDonough as CEOCAMBRIDGE, Mass.--(HSMN NewsFeed)--T2 Biosystems, Inc., a company developing the first portable medical diagnostic products which combine nanotechnology and miniaturized magnetic resonance imaging (MRI) technology, today announced the appointment of John McDonough as Chief Executive Officer. McDonough will also serve as a member of the Company’s board of directors.
Most recently, McDonough served as President of Cytyc Development Corp., where he was responsible for corporate strategy, acquisitions and venture investments. During his four-year tenure at the leading medical diagnostic and devices company, Cytyc Corporation grew -- primarily through acquisitions -- from a single product company with annual revenues of $300 million to a multiple product company with revenues of $750 million. In 2007, Cytyc was acquired by Hologic, Inc. for $6.3 billion. Prior to his tenure at Cytyc, McDonough served as CEO at a number of technology companies, including SoundBite Communications, Workgroup Technology Corporation and Easel Corporation.
“T2 Biosystems’ novel technology has the potential to revolutionize medical diagnostics and dramatically improve patient care by enabling immediate, accurate testing for almost any health condition, in nearly any setting,” said John McDonough, CEO of T2 Biosystems. “I am honored to join the T2 Biosystems’ team of talented scientists, world-class founders and advisors to drive achievement of the Company’s key goals in 2008 to produce a prototype instrument; identify and progress multiple diagnostic tests to the preclinical stage of development; continue to build its management team; and, pursue value-building collaborations with corporate partners.”
T2 Biosystems is developing the next generation of medical diagnostic products through its proprietary technology, which combines nanotechnology and the miniaturization of proven MRI technology to develop rapid, accurate and portable diagnostics. T2 Biosystems’ technology has been validated in multiple published journal articles and has shown to accurately analyze viruses, bacteria, proteins, hormones, DNA, small molecules and other diagnostic targets. The Company is developing a pipeline of diagnostic products based on its technology, including devices for hospitals, diagnostic laboratories and medical offices, as well as individual patients.
About T2 Biosystems
T2 Biosystems is a private biotechnology company developing next-generation medical diagnostic products using its proprietary technology, combining nanotechnology and miniaturized magnetic resonance (MRI) technology to provide rapid, accurate and portable diagnostics. T2 Biosystems was founded in 2006 by renowned researchers from the Massachusetts Institute of Technology, Harvard University, Harvard Medical School and Massachusetts General Hospital, and has assembled a world-class team, board of directors and scientific advisory board that collectively have a proven track record of translating technologic innovations into breakthrough products, building significant corporate value. T2 Biosystems is located in Cambridge, Massachusetts. For more information, please visit the company's website at www.t2biosystems.com.
Source: T2 Biosystems
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