Todos Medical Announces $4.8 Million in Sales for December 2020, a 50% Month Over Month Increase in Sales from November 2020
NEW YORK, NY, REHOVAT, ISRAEL, SINGAPORE, Jan. 11, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Todos Medical (OTCQB: TOMDF), an in vitro diagnostics company focused on distributing comprehensive solutions for COVID-19 screening and diagnosis, and developing blood tests for early detection of cancer and Alzheimer’s disease, today announced $4.8 million in sales for the month of December 2020, which represents a 50% month over month increase from November 2020. The majority of the increase in sales was driven by an increase in reagent and supply sales from its pre-existing clients. Additionally, the Company added several new clients who have requested automation packages that the Company expects to install in January 2021 and February 2021.
Todos expects significant month over month revenue growth for January 2021, as daily testing volumes for the majority of its COVID-19 testing clients increases on a monthly basis, and as two potentially large COVID-19 testing clients located in Brooklyn, NY complete the installation of liquid handling automation technology that will allow them to achieve testing capacities of up to 20,000 PCR tests per day. Additionally, several new client labs are beginning to order the Company’s various offerings with manual pipetting processes until such time they ramp their testing volumes to above 1,000 tests per day that would justify liquid handling solutions.
“We are now in full growth mode, with commercial proof of concept achieved with our rapidly-growing Wisconsin client who is now graciously helping the Company with demonstrations of our capabilities for prospective clients operating in different markets outside of Wisconsin,” said Gerald E. Commissiong, President & CEO of Todos Medical. “With our main COVID-19 PCR reagents and supply business for labs very much moving in the right direction, we are working to define our launch strategy for the complementary Aditxt Score™ COVID-19 antibody and cellular immunity profiling test through our existing channels as a ‘must-have’ monitoring solution as COVID-19 vaccination programs gain steam nationwide. Additionally, emerging opportunities to support government-backed testing programs being planned as the Biden administration implements its mandate to increase testing in schools and other constituencies nationwide will provide tailwinds for our point of care and reflex PCR testing programs.”
Mr. Commissiong continued, “Perhaps most importantly, our proprietary development-stage 3CL protease testing program is rapidly maturing and becoming increasingly important in the face of new SARS-CoV-2 strains that are beginning to evade currently-available testing methods. Because our 3CL protease assay measures an enzyme required for coronavirus replication, we are focused on bringing this product to market worldwide and are evaluating the best options available to do this. This novel assay will likely be critical for the foreseeable future as the market for COVID-19 testing matures and new strains force authorities to think beyond genetic testing-only strategies that are at high-risk of failure for the fast-mutating SARS-CoV-2 virus.”
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-savng 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.
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 Integrated Health LLC, MOTOPARA Foundation to deploy mobile COVID-19 testing in the United States.
For more information, please visit https://www.todosmedical.com/.
Certain statements contained in this press release may constitute forward-looking statements. For example, forward-looking statements are used when discussing our expected clinical development programs and clinical trials. These forward-looking statements are based only on current expectations of management, and are subject to significant risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, including the risks and uncertainties related to the progress, timing, cost, and results of clinical trials and product development programs; difficulties or delays in obtaining regulatory approval or patent protection for product candidates; competition from other biotechnology companies; and our ability to obtain additional funding required to conduct our research, development and commercialization activities. In addition, the following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; delays or obstacles in launching our clinical trials; changes in legislation; inability to timely develop and introduce new technologies, products and applications; lack of validation of our technology as we progress further and lack of acceptance of our methods by the scientific community; inability to retain or attract key employees whose knowledge is essential to the development of our products; unforeseen scientific difficulties that may develop with our process; greater cost of final product than anticipated; loss of market share and pressure on pricing resulting from competition; and laboratory results that do not translate to equally good results in real settings, all of which could cause the actual results or performance to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, Todos Medical does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting Todos Medical, please refer to its reports filed from time to time with the U.S. Securities and Exchange Commission.
Todos Investor Contact:
Ascendant Partners LLC
Todos Corporate Contact:
(917) 983-4229 ext. 103
Released January 11, 2021