Todos Medical Receives Notice of Allowance from European Patent Office Covering Diagnosis of Solid Tumors Using AI to Analyze Blood
REHOVOT, Israel, Feb. 19, 2020 (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, 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.
“We are very pleased to see the expansion of the Todos intellectual property portfolio in Europe where Todos is currently in the midst of a pre-commercialization study with partner Orot+ (a division of Orot Luces) for our TM-B1 and TM-B2 breast cancer blood tests,” said Gerald E. Commissiong, President & CEO of Todos Medical. “This particular patent is very significant because it covers the method of using TBIA for the identification of solid tumors. The potential of this technology to eventually be used as a broad screening tool for all cancers, given the low costs of goods sold (COGS) to implement the assay, would represent a sea-change in terms of the ability to do broad cancer screenings for health systems.”
About Todos Medical Ltd.
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. Todos owns 19.99% of Breakthrough Diagnostics, Inc., a joint venture with Amarantus Bioscience Holdings, Inc. (OTCPK:AMBS) that is developing the LymPro Test®, a blood test for diagnosing Alzheimer’s disease. Todos has exercised its option to acquire Breakthrough, and expects to close on that transaction in the first half of 2020. Todos has also entered into an exclusive option to acquire breast cancer blood testing company Provista Diagnostics, Inc. that is commercializing the Videssa® breast cancer blood test.
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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 February 19, 2020