T2 Biosystems Appoints Marc Jones and Frédéric Sweeney, Ph.D., to Senior Management Team

T2 Biosystems Appoints Marc Jones and Frédéric Sweeney, Ph.D., to Senior Management Team

June 6, 2013

--Marc Jones to Serve as Chief Financial Officer and Frédéric Sweeney as Senior Director, Business Development--

LEXINGTON, Mass.--()--T2 Biosystems, a company developing direct detection products enabling superior diagnostics, today announced the appointments of Marc Jones as Chief Financial Officer and Frédéric Sweeney, Ph.D., as Senior Director, Business Development.   

“Marc’s and Fred’s combined financial and business development expertise are ideal additions to the T2 Biosystems leadership team as we prepare for the growth that will come from both the commercialization of our flagship product, T2Candida®, as well as the expansion of our portfolio through strategic partnerships,” said John McDonough, President and CEO, T2 Biosystems. “On behalf of the entire Company, I welcome Marc and Fred to the T2 Biosystems team, and I look forward to their contributions at this pivotal stage in our corporate development.”

“T2MR is a disruptive diagnostic technology that should have a profound impact on healthcare outcomes and cost in the years to come,” commented Marc Jones, Chief Financial Officer, T2 Biosystems. “I believe that it is a particularly auspicious time to join T2 Biosystems as T2Candida, which is expected to enter the market next year, potentially offers a new diagnostic standard with rapid and direct detection of Candida species from whole blood in approximately three hours.”

Marc Jones was previously CFO of Crashlytics, where he oversaw the company's acquisition by Twitter (Twitter's largest acquisition to date). Prior to that, he was CFO of Fluidnet where he led all finance, administrative and operations functions, including its most recent fund raising. Marc has also served as CFO of CHiL Semiconductor, where he oversaw growth from pre-revenue to a $20 million run-rate, raised $30 million in venture financing and oversaw the ultimate acquisition of the company in March. Marc has held multiple positions at Picis, where he helped grow the company from under $20 million to over $100 million in annual revenue, along with various other corporate finance positions from Fortune 50 companies like Lockheed Martin to startups like iBasis, Inc. Marc holds a Master’s of Science in finance from Northeastern University and graduated summa cum laude with a BS in economics and finance from Southern New Hampshire University.

“T2 Bio’s T2MR® core technology is applicable to the rapid and sensitive detection of any molecular, immunodiagnostic or hemostasis target, making it an ideal platform to create value for T2 Bio and corporate partners,” added Frédéric Sweeney, Ph.D., Senior Director, Business Development, T2 Biosystems.

Dr. Frédéric Sweeney’s career spans academic research, venture capital and private equity, as well as operations. Fred was previously Vice President of Business Development & Strategic Alliances for Tornado Spectral Systems (TSS), a commercial stage nanophotonics and spectroscopy technology company. Having joined as an original founding member of the company, Fred managed all aspects of commercialization and go-to-market strategy for TSS’ product portfolio. He led a number of large partnership agreements with world-leading spectroscopy companies and several in/out-licensing deals. Fred also worked as part of the life sciences investment team at VenGrowth Private Equity Partners, one of Canada’s premier private equity and venture capital firms. Fred also acted as an observer on the board of numerous companies in the medical device, therapeutic, diagnostic and biomaterials space. Fred holds a Ph.D. in molecular and medical genetics from the University of Toronto as a Terry Fox Scholar of the National Cancer Institute of Canada.

About T2 Biosystems

T2 Biosystems is disrupting the landscape of clinical diagnostics with T2MR®, the Company’s proprietary magnetic biosensor detector. T2MR technology enables healthcare professionals to save lives and reduce costs by providing sensitive, accurate and rapid assay results. The Company’s products detect molecular, hemostasis or immunodiagnostic targets directly from unpurified clinical samples in hospitals, labs and physicians’ offices. For more information, please visit www.t2biosystems.com.

Contacts

MacDougall Biomedical Communications
Chris Erdman, 781-235-3060
cerdman@macbiocom.com