Todos Medical Enters Into $50M Contract to Supply Tollovid™ and CBD Products to Retail Distributor Company Nerd Hemp
- 5500 Automated Retail Machines to be Rolled out in Q4/22 and Q1/23
- $11.5M in Q4/22 Revenue Expected From This Agreement
NEW YORK, NY and TEL AVIV, ISRAEL, Sept. 22, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Todos Medical, Ltd. (OTCQB: TOMDF), a comprehensive medical diagnostics and related solutions company, today announced that it has entered into a distributor agreement to supply its proprietary 3CL protease inhibitor immune support dietary supplement Tollovid™ and botanical ‘0% THC’ CBD products in pill, tincture, gummy, candy and cream finished products to Nerd Hemp, Inc., an automated retail (AI Retail) machine company focused on the distribution of CBD products. AI Retail machines are similar to vending machines, however they use artificial intelligence to monitor product supply to optimize the re-ordering and stocking process. The new Tollovid and CBD products for the AI Retail machines will be manufactured in different adult and pediatric formulations in the Todos’ newly leased Cleburn, Texas-based facility. Nerd Hemp has already been contracted to install 5500 AI Retail machines across the United States in retail outlets including airports, shopping centers, universities, sporting venues, fitness centers, bars, and grocery outlets. These AI Retail machines are located in high traffic and secure locations very similar to the Redbox model. The first deliveries are expected to take place in October in grocery outlets like Lowes Markets, a privately held grocer with over 140 locations in the southwestern United States. Todos anticipates $11.5 million in revenue in the fourth quarter of 2022 from this contract as Nerd Hemp commences its nationwide rollout.
“Being able to gain access to a game-changing supplement such as Tollovid that is ideal for travel, athletic and leisure marketplace was something unique that no other supplier than Todos could deliver,” said RJ Grady, President & CEO of Nerd Hemp. “As we roll out these AI Retail machines into high-trafficked and secure retail locations that have a proven demand for CBD and personal health products, we are excited to be able to introduce Tollovid to the marketplace in lower priced formats that lower the barrier to access for the average consumer in settings where they are looking for extra protection in today’s environment. We think that after a consumer understands our products they will see the value proposition as they expect to regularly meet immune challenges in today’s new normal.”
“We are excited to be able to supply Nerd Hemp with Tollovid and CBD products that will be accessible in secure retail locations nationwide, thereby expanding our Tollovid distribution channels beyond online and expanding our product offering substantially,” said Gerald Commissiong, President & CEO of Todos Medical. “The world has changed in substantial ways over the last 2 years, with a strong desire for more automated checkout options to reduce overall exposure risk. We believe this supply agreement represents a tremendous opportunity to bring high quality botanically-derived products to market and we are excited to be able to do this at scale. We think this offline awareness will translate into online sales as our product gains more exposure to the public.”
According to Granview Research, The global retail vending machine market size was valued at USD 51.91 billion in 2021 and is expected to register a compound annual growth rate (CAGR) of 10.7% from 2022 to 2030.
To learn more about the 3CL protease in SARS-CoV-2 replication, please visit www.3clpro.com.
About Nerd Hemp
Nerd Hemp was founded in 2019 with a focus on launching CBD products to the marketplace through automated retail (AI Retail) machines. After choosing to delay the planned 2020 launch of the brand nationwide, the management team further refined and developed their AI Retail machine distribution relationships in preparation to initiate the delayed launch in the fourth quarter of 2022 and is now emerging from stealth mode. Nerd Hemp intends to launch its CBD AI Retail machines in retail locations nationwide through its strategic distribution channels.
About Tollovid™ and Tollovid Daily™
Tollovid and Tollovid Daily are oral dietary supplement products made from natural ingredients that help support and maintain healthy immune function and also have potent 3CL protease inhibition properties based upon in vitro functional assays that show strong inhibition of 3CL protease activity. Tollovid and Tollovid Daily bind to the active site of the 3CL protease. Tollovid has a 5-day dosing regimen, with 4 doses of 3 pills taken each day that provides maximum immune support. Tollovid Daily is a daily immune support product with a dosing regimen of twice daily. Preliminary data from an ongoing IRB-waived study of customers who used the products to assist with their COVID and Long COVID were recently announced.
Tollovir is an oral 3CL protease inhibitor and anti-cytokine therapeutic candidate targeting the Nidovirus group of viruses that includes coronaviruses such as SARS-CoV-2, COVID-19, SARS-CoV-1, MERS and 229E. Tollovir is made from all natural ingredients that are qualified to ensure strong inhibition of the 3CL protease in vitro, as well as strong anti-cytokine activity. Tollovir has successfully completed a Phase 2 clinical trial in Israel for the treatment of patients hospitalized with COVID-19. Tollovir will be developed for the treatment of hospitalized COVID-19 (severe and critical), moderate COVID-19, Long COVID and, potentially, pediatric COVID-19.
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. 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 examines 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 acquired 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, Long COVID Panel analyses, and Provista's proprietary commercial-stage Videssa® breast cancer blood test. More information on Provista is available at www.provistadx.com.
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 formed the Israeli-based majority-owned joint venture 3CL Pharma, Ltd with NLC Pharma in March of 2022 to consolidate all of the intellectual property surrounding 3CL protease–based diagnostic testing and development of 3CL protease botanical and pharmaceutical inhibitors that target a fundamental reproductive mechanism of coronaviruses. 3CL Pharma, through Todos’ brand, has commercialized the 3CL protease inhibitor immune support dietary supplement Tollovid™ in the United States, is developing the dual mechanism 3CL protease inhibitor and anti-cytokine therapeutic drug candidate Tollovir™, while also developing the 3CL protease diagnostic TolloTest™.
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 the 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 Corporate Contact:
Daniel Hirsch CFO
917-983-4229 x 104
Todos Press Contact:
Released September 22, 2022