Canon invests $40M in T2 Biosystems

Canon USA has made an equity investment of approximately $40 million in T2 Biosystems through purchase of the company's stock.

With the purchase of shares at a price of $6.56 each, Canon now owns approximately 20% of T2 Biosystems, which has developed a novel tabletop device that uses MR technology to scan blood samples from patients who are suspected of having a sepsis infection.

Canon U.S. Life Sciences, a wholly owned subsidiary of Canon USA, began working with T2 Biosystems in February 2015 to develop a diagnostic test panel for Lyme disease.

Seymour Liebman, executive vice president, chief administrative officer, and general counsel at Canon USA, will join the board of directors at T2 Biosystems.

Canon USA has been expanding of late and most recently created Canon BioMedical to advance its molecular diagnostics business.

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