Todos Medical Expands Partnership with Care G.B. Plus for Proprietary TBIA Cancer Tests to Include Europe, Israel and Africa
NEW YORK, REHOVOT, Israel and SINGAPORE, Sept. 16, 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 that it has expanded its partnership with Care G.B. Plus (Care GB) for the development and commercialization of its proprietary TBIA cancer diagnostic platform (Todos Cancer Tests) to include Europe, Israel and Africa. Todos originally executed an agreement for the development and commercialization of its Todos Cancer Tests in Israel alone in 2018.
In this expanded agreement, the companies agreed to form a joint venture (JV) for the Todos Cancer Tests in Europe, Israel and Africa, with Care GB owning 67% of the newly formed JV, and Todos owning 33%. Care GB is assuming all costs associated with product development and algorithm optimization responsibilities required to commercialize the Todos Cancer Tests in Europe, Israel and Africa. As part of the agreement, Todos’ Chief Technology Officer (CTO) Dr. Uzi Zelig will become the CTO of the JV and Care GB will provide full financial support for the laboratory and data generation requirements to support Todos’ existing commercial partner, Orot Luces, in its ongoing commercial distribution efforts in Romania. Todos maintains all rights to territories outside of Europe, Israel and Africa.
“This agreement is a very important step to ensure that our Todos Cancer Tests enter the commercialization phase in Europe with dedication in full towards a successful commercial launch,” said Gerald Commissiong, President & CEO of Todos. “Dr. Zelig has developed a tremendously powerful technology to surveil the immune system over the last 9 years since founding Todos. Now that Todos is in full commercialization mode in the United States on its COVID-19 diagnostic programs and in Israel, we believe it is the appropriate time to expand our relationship with Care GB so that the appropriate focus can be maintained to ensure a successful commercialization of Todos Cancer Tests in Europe and Israel. Given Care GB’s familiarity with the Todos programs, we believe this is the right partner to lead commercial efforts in manufacturing and laboratory operations.”
“We are very happy to expand our agreement with Todos and to bring Dr. Zelig on board as CTO to support the ongoing commercialization efforts in Europe and Israel for the Todos Cancer Tests,” said Mr. Assaf Gold, CEO of Care G.B. Plus. “With the breast cancer test preparing to complete the final stages ahead of a product launch with distribution partner Orot in Romania, now is the right time to take on the commercial commitments to support the launch to ensure full focus to achieve success.”
For information related to Todos Medical’s COVID-19 testing capabilities, please visit www.todoscovid.com
For testing and PPE inquiries, please email firstname.lastname@example.org.
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.
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. In July 2020, Todos completed the acquired Breakthrough Diagnostics, Inc., the owner of the LymPro Test intellectual property, from Amarantus Bioscience Holdings, Inc. (OTC: AMBS).
Additionally, 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 has formed strategic partnerships with Meridian Health, Moto-Para Foundation to 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.
Kim Sutton Golodetz
LHA Investor Relations
Senior Vice President
Released September 16, 2020