T2 Biosystems Inc. believes its NMR-based molecular and immunodiagnostic platform will create tests that can detect infectious diseases and measure drug levels more quickly, cheaply and accurately than other technologies. The company raised $23 million in a series D round this month to support an FDA submission for its first product, a Candida test panel, in 2H12.

Conventional diagnostic technologies such as PCR use optical signals and thus require pure samples and multiple processing steps, which can take days to yield results.