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 sales for the month of August 2020 were $1,190,000. This compares with sales for the month of July 2020 of $550,000, with growth driven by week-over-week increases in demand for extraction reagents and automated extraction equipment.
During August, Todos also signed sales contracts with laboratories in New York, Texas and Wisconsin with a total value of more than $35 million and the right to supply up to 280,000 COVID-19 PCR tests per day. Todos also entered into a common stock purchase agreement with Lincoln Park Capital, and signed an agreement with a South Korean manufacturer of rapid diagnostic tests for U.S. distribution rights to its proprietary 10-minute rapid point-of-care (POC) antigen test (Rapid Antigen) and its proprietary 40-minute rapid POC PCR test (Rapid PCR) for SARS-CoV-2. Additionally, the Company announced positive analytical performance data for its proprietary saliva-based point of care rapid 3C protease COVID-19 test currently being developed with joint venture partner NLC Pharma.
“I’m pleased to be reporting 100% sequential-month sales growth while in parallel advancing our business strategy with new sales agreements and key strategic partnerships with global med-tech leaders, making several executive appointments and strengthening our balance sheet,” said Gerald E. Commissiong, President & CEO of Todos. “We believe there is opportunity for Todos to add significant innovation for cancer and Alzheimer’s testing in the U.S. healthcare system, and we intend to vigorously pursue these opportunities while continuing to drive sales growth for our COVID-19 testing business. As we expand our sales reach, we have initiated clinical studies for proprietary saliva-based 3C Protease and entered into a partnership with Pangea to integrate testing data reporting functions into telehealth platforms to improve data reporting functions for the ‘bubbles’ we are looking to help our clients establish across the United States. Taken together, we believe taking a more comprehensive approach to COVID-19 is required, as end clients are looking to purchase integrated solutions that can facilitate re-opening safely.”
For information related to Todos Medical’s COVID-19 testing capabilities, please visit www.todoscovid.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.