Pathnova Laboratories (PATHNOVA) Enters into Partnership to Commercialize Todos Medicals COVID-19 and Breast Cancer Tests in Singapore
- Temasek Life Sciences Accelerator-backed PATHNOVA to Offer COVID-19 Testing Kits Supplied by Todos in Singapore and Southeast Asia
REHOVOT, Israel, SINGAPORE and NEW YORK, NY, Aug. 03, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Todos Medical Ltd. (OTCQB: TOMDF), an in vitro diagnostics company focused on distributing comprehensive solutions for COVID-19 screening and diagnosis, and developing blood tests for the early detection of cancer and Alzheimer’s disease, today announced a partnership with PATHNOVA, a Singapore-based clinical laboratory, for the Company’s breast cancer and SARS-CoV-2 diagnostic kits (the “Todos Tests”). PATHNOVA is a spin-off company of Temasek Life Sciences Laboratory (TLL), a not-for-profit research institute with a mission to harness the power of the life sciences to improve lives.
“We are very pleased to work with Todos and its advanced AI-driven TM-B1 and TM-B2 blood tests for breast cancer,” said Professor Chan Soh Ha, CEO of PATHNOVA and previous Executive Director of TLL. “We see immediate potential to offer COVID-19 testing services and to distribute Todos’ COVID-19 tests in Southeast Asia. We believe the Todos portfolio has tremendous potential and we are excited to help bring it forward in Singapore and Southeast Asia.”
Under the terms of the agreements, PATHNOVA will be responsible for the further development and commercialization of the Todos Tests in Singapore, and Todos will assist PATHNOVA in commercializing its nasopharyngeal cancer tests through its affiliates in the United States and Singapore. Todos will provide PATHNOVA with access to existing clinical datasets for its breast cancer diagnostics TM-B1 and TM-B2, and PATHNOVA will work closely with Todos to optimize its AI-driven algorithm to support regulatory approval in the United States and Singapore. Reciprocally, Todos will distribute PATHNOVA’s nasopharyngeal cancer clinical test services through its affiliates in Israel and the United States. PATHNOVA will provide support as a commercial distributor of clinical test services for Todos’ COVID-19 test offerings in Singapore and in Southeast Asia, in collaboration with Todos’ wholly-owned subsidiary Todos Medical Singapore PTE Ltd.
Commenting on the agreement, Gerald Commissiong, Todos Medical’s President & CEO, said, “We have been systematically building a world-class diagnostics company, and this agreement with PATHNOVA supports our goals and extends our geographic reach. By serving as our laboratory in Southeast Asia, along with its ability to shepherd regulatory clearances, PATHNOVA will play an important role in Todos Medical’s growth, while together we provide potentially life-saving diagnostic tests.”
For information related to Todos Medical’s COVID-19 testing capabilities, please visit www.todoscovid19.com
For testing and PPE inquiries, please email email@example.com.
About Pathnova Laboratories Pte Ltd.
PATHNOVA is a Singapore start-up spun out of Temasek Life Sciences Laboratory in 2017. PATHNOVA is focused on enabling the scalable detection of nasopharyngeal cancer (NPC) and autoimmune disease by developing an AI framework trained by Emeritus Professor Chan Soh Ha, who pioneered the use of the Immunofluorescence Assay (IFA) in the 1970s as the gold standard test for detecting NPC.
NPC is a scourge which affects South China and Southeast Asia. Driven by the Epstein-Barr virus, this cancer progresses more quickly than most other cancers. Delaying detection by months can be the difference between a highly treatable and a lethal tumor. Unlike most cancers that tend to present at older ages (~65 years), the population most at risk for NPC are men aged 45 to 50, a period when their contributions to family and society are particularly important. Although this disease can be detected with high accuracy using the IFA test, most patients are still detected in the late stages (3 & 4), when survival is relatively worse. One major reason is that the IFA is not scalable and requires time-consuming evaluation by highly-trained pathology staff. PATHNOVA aims to solve this problem by automating the IFA using pattern recognition to simultaneously detect and quantitate NPC disease load for clear cut cases. Borderline cases will still be evaluated by a human pathology expert.
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. 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 third 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 third quarter of 2020.
Todos has entered into distribution agreements with companies to distribute certain novel coronavirus (COVID-19) test kits. The agreements cover 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, via its wholly-owned subsidiary Corona Diagnostics LLC, has formed strategic partnerships with Meridian Health, Moto-Para Foundation, Emerald Organic Products, Inc.’s subsidiaries Carie.com and Bonsa Health to help deploy COVID-19 testing in the United States.
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 August 3, 2020