Todos Medical’s Provista Laboratory to Boost Top Line Through New Atlanta-based Reference Lab Agreement for COVID PCR, cPass Neutralizing Antibody & Respiratory Pathogen Panel Tests
New York, NY, and Tel Aviv, ISRAEL, Nov. 16, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Todos Medical, Ltd. (“Todos Medical”) (OTCQB: TOMDF), a comprehensive medical diagnostics and related solutions company, today announced that its wholly-owned CLIA/CAP laboratory Provista Diagnostics has entered into a new reference lab agreement with an Atlanta-based CLIA laboratory (the “New Client”). Provista will be providing COVID PCR, cPass Neutralizing Antibody and Respiratory Pathogen Panel (RPP) testing with local sample collection expected to yield less than 12-hour turnaround times. The Company expects to initially add 2,000 COVID PCR tests monthly, and increase the overall production on a monthly basis. Due to the steadily increasing demand for combined COVID and RPP testing for symptomatic pediatric patients, Provista’s highly automated systems provide for quick turnaround time making it uniquely positioned to meet the demands of this lab and others seeking these reference services. Fast and accurate testing can determine the most effective course of treatment. This year many in the industry are expecting a harsh cold and flu season. Additionally, the New Client already services skilled nursing and long-term care facilities that are looking to add the cPass neutralizing antibody testing into their health & safety protocols for residents and staff.
“Business development at Provista is in a pronounced upswing. We see it in the increased throughput and the increasing sales pipeline,” said Gerald E. Commissiong, President & CEO for Todos Medical & Provista. “This momentum at Provista is exactly what we need to energize the business, as we expect this will be the first of many reference lab agreements for whom we can deliver high throughput testing with very fast and clinically relevant turnaround times. Our sales team is positioning our excess testing capability extremely well and it’s resonating with prospects. As we move into the holiday traveling season with falling temperatures that lead people indoors, the PCR COVID, cPass, and RPP testing panel have become critically important tests. This reference agreement could potentially drive millions to our top line, and provide further validation for other reference lab clients of our ability to deliver. Additionally, these testing options should make a big difference in our community to maximize safety for the holidays.”
About Todos Medical Ltd.
Founded in Rehovot, Israel with offices in New York City, Todos Medical Ltd. (OTCQB: TOMDF) engineers life-saving diagnostic solutions for the early detection of a variety of cancers. In 2021, Todos completed the acquisition of U.S.-based medical diagnostics company Provista Diagnostics, Inc. to gain rights to its Alpharetta, Georgia-based CLIA/CAP certified lab currently performing PCR COVID testing and Provista's proprietary commercial-stage Videssa® breast cancer blood test. 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 is focused on the commercialization of Videssa and will bring the TBIA tests to market thereafter.
Todos has entered into a joint venture with NLC Pharma targeting diagnostic and testing solutions to address the COVID-19 pandemic. The Joint-Venture is pursuing the development of diagnostic tests targeting the 3CL protease, as well as 3CL protease inhibitors that target a fundamental reproductive mechanism of coronaviruses. The Company’s proprietary therapeutic candidate Tollovir™ is currently in a Phase 2 clinical trial to treat hospitalized COVID-19 patients in Israel, and is preparing to initiate Phase 2/3 clinical trials for both hospitalized and non-hospitalized patients in Israel.
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.
Todos is also distributing certain (COVID-19) testing materials and supplies to CLIA-certified labs in the United States. The products cover multiple suppliers of PCR testing kits, extraction kits, automation materials and supplies, as well as COVID-19 antibody and antigen testing kits.
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.
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Released November 16, 2021