Todos Medical Enters into Exclusive Branding and Distribution Agreement with Melbourne Biotech for 96 and 384 Well RT-PCR Machines in the United States
NEW YORK, NY, REHOVOT, Israel, and SINGAPORE, Sept. 30, 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 entered into an exclusive branding and distribution agreement with Australia-headquartered Melbourne Biotech, a US FDA-registered manufacturer, to supply high complexity CLIA laboratories in the United States with 96 and 384 well Real Time Polymerase Chain Reaction (RT-PCR) machines. Melbourne RT-PCR machines come with 4, 5 or 6 channels to be able to identify multiple genes in the same well. Todos intends to focus the initial deployment of these RT-PCR machines towards its ongoing mobile high complexity CLIA lab project that it expects to reach the commercialization stage early in the fourth quarter of 2020.
“Securing exclusive branding and distribution rights to a high quality RT-PCR machine such as Melbourne for the US market has been a top priority given that we have seen extensive delays in US delivery of other RT-PCR machines since the beginning of the COVID-19 pandemic,” said Gerald E. Commissiong, President & CEO of Todos. “We will now be able to source between 100 and 200 Todos branded RT-PCR machines from Melbourne Biotech monthly, which will allow us to scale our ongoing mobile high-complexity CLIA lab collaboration to manufacture up to 100 mobile labs per month. This will facilitate the running of high-throughput PCR testing, around which we will be deploying rapid antigen and rapid antibody testing. As decision makers begin to realize the importance of an integrated screening and diagnostic confirmation approach to address the COVID-19 crisis, Todos is well positioned to provide the solutions necessary to allow communities to open safely and stay open. We believe mobiles will further add communities’ abilities to create the ‘bubbles’ needed to keep people safe, whether it’s on a college campus, on a military base, or whether it is for a sporting event.”
“When looking for the appropriate partner in the U.S., we were seeking a company that had a clear vision and approach to address the upcoming requirements of COVID testing for the local population,” said Dr. Shah Awang, Medical Director of Melbourne Biotech. “We believe the Todos strategy of providing mobile laboratory testing and direct sales of equipment and tests to laboratories is in direct alignment of our goals to assist the population to combat this pandemic.”
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 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
(917) 983-4229 ext. 103
Released September 30, 2020