Todos Medical Enters Into Distribution Partnership With Meridian Health Services Network for COVID-19 Testing Solutions
- Meridian’s COVID-19 testing being deployed via its national lab & provider networks
- Todos’ portfolio of COVID-19 PCR and antibody testing solutions facilitates national scale
- Todos to equip Meridian mobile laboratories to complement existing labs
REHOVOT, Israel, NEW YORK, NY and BOULDER, CO, June 29, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Todos Medical Ltd. (OTCQB: TOMDF), an in vitro diagnostics company focused on the distribution of a comprehensive suite of solutions for the screening and diagnosis of COVID-19 and the development of blood tests for the early detection of cancer and Alzheimer’s disease, today announced that it has entered into a partnership with Meridian Health Services Network (“Meridian,” www.meridianhsn.com) to deploy COVID-19 testing programs throughout the United States. As part of the agreement, Todos will be working closely with Meridian to help supplement COVID-19 testing products and services for its network of brick & mortar and mobile laboratories nationwide. Meridian successfully completed CLIA validation testing for Todos’ antibody test.
“As we continue to design and implement COVID-19 testing programs, it has become clear that the quality and strategies behind testing are critical to achieve measurable outcomes for our members,” said David Bloom, President of Meridian Health Services Network. “This partnership is an important step as we engage with state and local governments, as well as our existing self-insured employer groups and health services networks seeking solutions for the deployment of COVID-19 testing. Nationwide, testing is moving out of the realm of being solely focused on symptomatic patients, and as a result we have developed innovative, compliant solutions to make testing easy, accessible and well-coordinated for our members. We are especially excited about the potential for Todos’ 3C Protease At-Home Saliva test that it is developing in Israel with NLC Pharma in the coming months.”
“This partnership with Meridian is a validation of our testing platform because it allows Todos to supply a full set of PCR and antibody testing solutions for COVID-19 to a nationwide health network that will be administering testing solutions for employers, school systems and communities of faith, as well as others, across the United States,” said Gerald E. Commissiong, President & CEO of Todos Medical. “We believe that COVID-19 testing will become an integral aspect to daily life for the next 12-24 months in the United States that may require periodic testing in conjunction with safe, reliable, and effective therapeutic or preventative solutions available to the US population. As a result, Meridian provides us with an ideal platform to fully integrate our solutions with a nationwide health network that will be administering testing for many clients as the US economy prepares for Back to School and the related Return to Work activities that will occur in the summer and fall of 2020.”
For information on Meridian’s COVID-19 services please visit: www.Meridianhsn.com
For information on Todos Medical’s COVID-19 test menu please visit: https://www.todoscovid19.com
About the SARS-CoV-2 Coronavirus (COVID-19)
Coronaviruses are a family of viruses that can lead to respiratory illness, including Middle East Respiratory Syndrome (MERS-CoV) and Severe Acute Respiratory Syndrome (SARS-CoV). Coronaviruses can be transmitted between animals and people and evolve into strains not previously identified in humans. On January 7, 2020, a novel coronavirus (SARS-CoV-2) was identified as the cause of pneumonia cases in Wuhan, Hubei Province of China, and additional cases have been found in a growing number of countries worldwide. COVID-19 is the disease caused by SARS-CoV-2.
About Meridian Health Services Network
Since 2000 Meridian HSN has been assisting Fortune 1000 businesses, cities, schools and hospitals in managing and lowering health, benefits and risk management costs through our network of services. Meridian serves thousands of patients daily through our Accountable Care Organization approach of assembling the nation’s leading providers into one resource led by our healthcare funding analysis. Our nationally recognized network is made up of health care providers, PBM management, PCP partners, telemedicine, as well as health and MSK assessment teams. Meridian clients average 10-20% savings on health and risk management costs compared to average industry costs. Meridian benefits average a 98% employee approval rating. Our clients and partners include National and State Council of Self Insurers, PRIMA, NAHU members, Gen7 Solutions and the American Red Cross. Our core association partners include national hotel chains, aviation, lumber, beverage providers, cities, state, universities, hospital networks, merchandising, power companies, casinos, consulting, and health underwriters.
About Todos Medical Ltd.
Headquartered in Rehovot, Israel, 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 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 and are currently in a pre-commercial study with its distribution partner Orot+ (a division of Luces-Orot). 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 second quarter of 2020.
Through Breakthrough Diagnostics, Inc., its joint venture with Amarantus Bioscience Holdings, Inc. (OTC: AMBS), Todos is also actively involved with the development of blood tests for the early detection of neurodegenerative disorders, such as Alzheimer's disease. Todos expected to complete the remaining unowned interest in Breakthrough in the second quarter of 2020.
Todos recently entered into distribution agreements with companies to distribute certain novel coronavirus (COVID-19) test kits. The Company has entered into distribution agreements with 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 Corona Diagnostics, LLC, a strategic collaboration with Emerald Organic Products, Inc. (OTC: EMOR), to support telemedicine and virtual pharmacy aspects of the commercialization of its COVID-19 return to work testing programs in the US.
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.
Investor and Corporate Contact:
Kim Sutton Golodetz
LHA Investor Relations
Senior Vice President
Released June 29, 2020