T2 Biosystems, Canon deal

T2 Biosystems and Canon’s Canon U.S.A. subsidiary partnered to co-develop T2 Biosystems’ T2MR technology platform to diagnose Lyme disease. T2 Biosystems will receive a $2 million upfront payment and is eligible for up to $8.5 million in development and regulatory milestones. Canon is also eligible to receive royalties on product sales. T2 Biosystems will have exclusive, worldwide commercialization rights for products developed under the collaboration. ...