FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Todos Medical Receives Notice of Allowance from European Patent Office Covering Diagnosis of Solid Tumors Using AI to Analyze Blood.”
Todos Medical Ltd. (OTCQB: TOMDF), a clinical-stage in-vitro-diagnostics company focused on the development of blood tests for the early detection of cancer and neurodegenerative disorders, today announced that it has received a notice of allowance from the European Patent Office (EPO) covering the use of Todos’ proprietary Total Biochemical Infrared Analysis (TBIA) platform to identify solid tumors using peripheral blood mononuclear cells (PBMCs). The specific claims being granted cover the use of Fourier Transformed Infrared Analysis (FTIR) spectroscopy and using artificial intelligence on the infrared (IR) data obtained to build algorithms based on the IR spectrum that are predictive of the presence of different types of solid tumors with different tissues of origin. The Company expects the patent to be issued in the coming weeks.
Todos Medical Ltd. is an in-vitro diagnostic company engaged in the development of blood tests for the early detection of a variety of cancers, and also has initiated the development of blood tests for neurodegenerative disorders such as Alzheimer’s disease through Breakthrough Diagnostics, Inc., its joint venture with Amarantus Bioscience Holdings, Inc. Todos has developed two cancer screening tests based on TBIA (Todos Biochemical Infrared Analyses), a method for cancer screening using peripheral blood analysis. The TBIA screening method is based on the cancer’s influence on the immune system, which triggers biochemical changes in peripheral blood mononuclear cells and plasma. This proprietary and patented method incorporates biochemistry, physics and signal processing. The company’s two cancer screening tests, TM-B1 and TM-B2, have received the CE mark. Breakthrough Diagnostics is developing the LymPro Test®, a blood test for diagnosing Alzheimer’s disease.
Biotechnology plays an important role throughout various sectors by improving industry standards, services, and developing new products. While agriculture, material science and environmental science are major areas of research, the largest impacts are made in the medical field. As major players in the research and development of pharmaceuticals, the role of biotech firms in the healthcare field is undisputable. From genetic analysis to the development of new drugs and treatments for the both common and rare conditions, many biotech businesses are seeing themselves transform into pharmaceutical and biopharmaceutical companies. Some of the noteworthy processes within the industry include microbiology, genetic engineering and biochemistry, among many others. And while there are many various types of medical conditions, the market is seeing a large spur of demand for therapeutic and diagnostic solutions such as red biotechnology, recombinant technology, and DNA sequencing. Additionally, the rising occurrence of persistent conditions such as diabetes and cancer globally is expected to further increase the need for new and innovative biotechnology products. And, according to Polaris Market Research, the global biotechnology market size was valued at USD 390.1 Billion in 2017 and is projected to register a CAGR of 7.7% during the forecast period of 2019 – 2026.
Overall, the cancer treatment market is one of the biggest segments of the biotechnology industry. According to the National Cancer Institute, it was estimated that 1.73 million in the U.S. were affected by cancer in 2018. Additionally, the report also suggested that 609,640 people passed away due to cancer. The increase in competition and continuous technological advancements has so far led to improvements in the product portfolio of biotech firms in the field. Therefore, product approvals and product development are one of the key developmental strategies adopted by the market players in the global cancer therapeutics market. More specifically, by cancer type, the market is segmented into Blood Cancer, Breast Cancer, Prostate Cancer, Gastrointestinal Cancer and numerous other cancer types. And according to a report by Mordor Intelligence, the breast cancer segment is projected to account for the largest market size over the forecast period of 2020–2025. As per estimates provided by the Breast Cancer Organization in 2018, it is estimated that over 2,66,120 new cases of invasive breast cancer are expected to be diagnosed in women in the United States, along with 63,960 new cases of non-invasive (in situ) breast cancer.
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