Todos Medical Enters Into Definitive Agreement With Orot+ for Exclusive Distribution Rights of its Breast Cancer Screening Tests in 2 European Countries
REHOVOT, Israel, April 15, 2019 (GLOBE NEWSWIRE) -- 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 such as Alzheimer's disease, today announced the signing of a Distribution Agreement with Orot+, the operational division of Orot-Luces (http://orot-luces.com), for exclusive distribution rights of Todos Medical Ltd.’s innovative and cost-effectiveTM-B2 blood tests for breast cancer screening in the European territories of Romania and Austria.
“Since inception, Todos Medical has worked diligently to bring our breast cancer screening technology to commercialization to help patients and their physicians identify cancer earlier in the disease process using a simple blood test,” said Dr. Herman Weiss, Todos Medical’s CEO. “Today, we are happy to announce the signing of a Distribution Agreement with Orot+ to act as the exclusive distributor of Todos Medicals breast cancer screens in Austria and Romania. Establishing a local network to introduce our cancer screening tests to the European market is an important milestone for Todos Medical.”
“We are excited at the opportunity to bring Todos Medicals simple blood test for the early detection of breast cancer to Austria and Romania,” said Mr. Ron Streichman, Orot-Luces group’s CEO. “We believe that our experienced team and established network will be instrumental in making our vision to give cancer patients access to innovative solutions, a better chance at long term survival, resulting in a better quality of life. We look forward to working with Todos for many years to come.”
Orot+ will be responsible for marketing and distribution costs and execution associated with commercializing the breast cancer tests in Romania and Austria. Todos Medical will be able to use the data gathered from these initiatives to support further development and commercialization in other jurisdictions.
About Todos Medical
Todos Medical Ltd. (OTCQB: TOMDF), an Israeli company headquartered in Rehovot, is a cancer in-vitro-diagnostic (“IVD”) company engaged in the development of a series of blood tests for the early detection of a variety of cancers and 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. (OTCPK:AMBS). The company 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 (“PBMC”) 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 are CE marked in the EU. Breakthrough Diagnostics is developing the Alzheimer’s blood diagnostic LymPro Test®.
For more information, the content of which is not part of this press release, please visit http://www.Todosmedical.com.
Orot+, an Israeli company headquartered in Tel-Aviv, is the operational division of Orot-Luces (http://orot-luces.com). Orot+ focuses on connecting innovative solutions with significant unmet needs in the cancer care eco-system (diagnostics, therapeutics and patient empowerment). The Orot+ team has vast experience and proven track record in building and operating medical services across Europe. Orot+ maintains close working relationships with Amethyst (Amethyst-radiotherapy.com) a pan-European Radiotherapy network which the Orot+ team was actively involved in establishing and operating. Orot+ is well established and connected to key opinion leaders, doctors, clinics, hospitals, medical centers and has close working relationships with regulatory bodies and reimbursement agencies.
Forward-looking statements: This press release contains forward-looking statements. These forward-looking statements are only based on the current expectations of the management of Todos Medical Ltd., and are subject to a number of factors 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 our 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 of Todos Medical Ltd. to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, Todos Medical Ltd. undertakes no 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. More detailed information about the risks and uncertainties affecting the company is contained under the heading “Risk Factors” in Todos Medical Ltd.’s Annual Report on Form 20-F. Reference is made to Todos Medical Ltd.’s Annual Report on Form 20-F for the fiscal year ended December 31, 2017 filed with the U.S. Securities and Exchange Commission (“SEC”) which is available on the SEC's website, www.sec.gov and in the Company’s periodic filings with the SEC.
Todos Medical Ltd.
Released April 15, 2019