Todos Medical Ltd. (OTCQB: TOMDF), an in vitro diagnostics company focused on distributing comprehensive solutions for COVID-19 screening and diagnosis, and developing blood tests for the early detection of cancer and Alzheimer’s disease, today announced that it has entered into a sales agreement with a New York-based laboratory to supply it with the necessary testing equipment and supplies for a total contract of $4.5 million. Todos will be supplying automated extraction machines, liquid handlers and PCR machines. The initial contract is for 12 months. Todos has also been granted a priority right to supply the lab with up to 75,000 COVID PCR tests per day in the event the laboratory sees significant additional testing demand.
Andrew Blumenthal, Todos Vice President of Business Development, commented “It’s imperative the United States maintain a high standard of testing. With this deal, Todos continues its support of USA-based laboratories’ initiatives to ensure the appropriate resources are available and provided at the community level in anticipation of a potential winter surge of COVID-19 cases.”
“The recent approval of Abbott’s antigen test shows the strong commitment from the US FDA to bring new screening testing into the market to help quickly triage those at higher risk of an active COVID-19 infection so they can be segregated and advanced to confirmatory testing,” said Gerald Commissiong, President & CEO of Todos. “We expect this will give greater confidence to communities to re-open more fully. As a result, we expect to see a surge in demand for that reflex confirmatory testing using the gold standard COVID-19 test, polymerase chain reaction known as PCR. Labs are continuing to scale up their PCR testing capacity to meet the current influx of reflex testing that we expect will grow significantly this upcoming fall and winter as active or prior COVID infections are uncovered with antigen testing. We continue to be laser focused on helping local labs rapidly transition into or expand their COVID testing capabilities in order to get faster results to patients and other stakeholders in the COVID-19 testing ecosystem.”
For information related to Todos Medical’s COVID-19 testing capabilities, please visit www.todoscovid19.com
For testing and PPE inquiries, please email email@example.com.
About Todos Medical Ltd.
Headquartered in Rehovot, Israel, Todos Medical Ltd. (OTCQB: TOMDF) engineers life-saving diagnostic solutions for the early detection of a variety of cancers. The Company’s state-of-the-art and patented Todos Biochemical Infrared Analyses (TBIA) is a proprietary cancer-screening technology using peripheral blood analysis that deploys deep examination into cancer’s influence on the immune system, looking for biochemical changes in blood mononuclear cells and plasma. Todos’ two internally-developed cancer-screening tests, TMB-1 and TMB-2, have received a CE mark in Europe. Todos recently entered into an exclusive option agreement to acquire U.S.-based medical diagnostics company Provista Diagnostics, Inc. to gain rights to its Alpharetta, Georgia-based CLIA/CAP certified lab and Provista’s proprietary commercial-stage Videssa® breast cancer blood test. The transaction is expected to close in the third quarter of 2020.
Todos is also developing blood tests for the early detection of neurodegenerative disorders, such as Alzheimer’s disease. The Lymphocyte Proliferation Test (LymPro Test™) is a diagnostic blood test that determines the ability of peripheral blood lymphocytes (PBLs) and monocytes to withstand an exogenous mitogenic stimulation that induces them to enter the cell cycle. It is believed that certain diseases, most notably Alzheimer’s disease, are the result of compromised cellular machinery that leads to aberrant cell cycle re-entry by neurons, which then leads to apoptosis. LymPro is unique in the use of peripheral blood lymphocytes as a surrogate for neuronal cell function, suggesting a common relationship between PBLs and neurons in the brain. In July 2020, Todos completed the acquired Breakthrough Diagnostics, Inc., the owner of the LymPro Test intellectual property, from Amarantus Bioscience Holdings, Inc. (OTC: AMBS).
Additionally, Todos has entered into distribution agreements with companies to distribute certain novel coronavirus (COVID-19) test kits. The agreements cover multiple international suppliers of PCR testing kits and related materials and supplies, as well as antibody testing kits from multiple manufacturers after completing validation of said testing kits and supplies in its partner CLIA/CAP certified laboratory in the United States. Todos has formed strategic partnerships with Meridian Health, Moto-Para Foundation to deploy COVID-19 testing in the United States.