T2 BIOSYSTEMS,INC. (NASDAQ:TTOO) Files An 8-K Entry into a Material Definitive Agreement
Item1.01
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Entry into a Material Definitive |
On March2, 2017, the registrant and King 101 Hartwell LLC (the
Landlord) entered into the Fourth Amendment to Lease (the Lease
Amendment), amending that certain Lease, dated as of August6,
2010 (as subsequently amended, the Lease) relating to the
registrants corporate headquarters and research space located at
101 Hartwell Ave., Lexington, Massachusetts (the Premises).
The Lease Amendment extends the term of the Lease from
December31, 2017 to December31, 2021. Under the terms of the
Lease Amendment, beginning on January1, 2018 and ending on
December31, 2018, the registrant is obligated to pay the Landlord
monthly rent installments of $112,116.67. The registrants monthly
base rent will increase by three percent of the then-current base
rent on January1 of each succeeding year during the term of the
Lease, beginning on January1, 2019.
Subject to the terms and conditions of the Lease Amendment, the
Landlord has agreed to reimburse the registrant for certain costs
relating to base building work and improvements made by
registrant to the Premises, in an amount not to exceed
$336,350.00.
to the Lease Amendment, the registrant has an option to extend
the Lease for an additional term of seven years and a right of
first offer with respect to an additional 7,700 square feet of
space located in the same building as the Premises.
The foregoing description of the Lease Amendment does not purport
to be complete and is qualified in its entirety by reference to
the full text of the Lease Amendment, which is filed as
Exhibit10.1 to this Current Report on Form8-K and is incorporated
herein by reference.
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Item 9.01 |
Financial Statements and Exhibits |
(d)Exhibits
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ExhibitNo. |
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Description |
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10.1 |
Fourth Amendment to Lease, dated March2, 2017 |
About T2 BIOSYSTEMS, INC. (NASDAQ:TTOO)
T2 Biosystems, Inc. is an in vitro diagnostics company engaged in developing a technology platform offering an alternative to diagnostic methodologies. The Company’s T2 Magnetic Resonance platform (T2MR) enables detection of pathogens, biomarkers and other abnormalities in a range of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets at limits of detection as one colony forming unit per milliliter (CFU/mL). The Company’s initial development efforts target sepsis, hemostasis and Lyme disease. T2MR is a miniaturized, magnetic resonance-based approach that measures how water molecules react in the presence of magnetic fields. Its platform detects a range of targets, including molecular targets, such as deoxyribonucleic acid (DNA), immunodiagnostics, such as proteins, and a range of hemostasis measurements. The Company offers T2Dx Instrument (T2Dx) and the T2Candida Panel. T2 BIOSYSTEMS, INC. (NASDAQ:TTOO) Recent Trading Information
T2 BIOSYSTEMS, INC. (NASDAQ:TTOO) closed its last trading session down -0.05 at 5.85 with 114,947 shares trading hands.