Todos Medical Completes Acquisition of Breakthroug
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Posted On: 07/29/2020 10:27:18 AM
Todos Medical Completes Acquisition of Breakthrough Diagnostics, Gains Full Rights to the Alzheimer’s Blood Diagnostic LymPro™ Test from Amarantus
JULY 28, 2020 5:10PM EDT
REHOVOT, Israel, and NEW YORK, July 28, 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 completed the acquisition of the remaining shares in Breakthrough Diagnostics, Inc. from Amarantus Bioscience Holdings, Inc. (OTC: AMBS).
Todos now controls full development rights to the Alzheimer’s blood diagnostic LymPro Test™. LymPro measures cell cycle dysfunction in peripheral lymphocytes. Data announced in July 2019 revealed strong and statistically significant correlation between LymPro scores and amyloid PET neuroimaging cSUVR scores (r = -0.849; p = 0.00000216).
Concurrent with this announcement, Todos announced that it has completed a capital raise for gross proceeds of $2,000,000. A summary of the terms is available on Form 6-K filed on July, 28, 2020.
“We are very pleased to have completed the acquisition of this exciting asset, which has been valued at $136 million by an independent third-party valuation firm retained by the Todos’ Board of Directors,” said Daniel Hirsch, Chief Financial Officer of Todos. “With this asset now fully in our portfolio, and with the expected cash flow from our COVID-19 testing business, we believe we can continue to increase the value of LymPro as we bring it to market through our emerging U.S. and international sales channels. Additionally, because we are seeing a number of complications after recovery from COVID-19, we believe it is prudent to begin monitoring patients for early warning signs of disease, including Alzheimer’s and cancer. If early pathology emerges, it will potentially be more treatable than if found later in the course of disease.”
A description of the terms of the acquisition is available on Form 6-K filed with the Securities and Exchange Commission on July 28, 2020.
For information related to Todos Medical’s COVID-19 testing capabilities, please visit www.todoscovid19.com
For testing and PPE inquiries, please email sales@todosmedical.com.
https://investor.todosmedical.com/news-events...eakthrough
JULY 28, 2020 5:10PM EDT
REHOVOT, Israel, and NEW YORK, July 28, 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 completed the acquisition of the remaining shares in Breakthrough Diagnostics, Inc. from Amarantus Bioscience Holdings, Inc. (OTC: AMBS).
Todos now controls full development rights to the Alzheimer’s blood diagnostic LymPro Test™. LymPro measures cell cycle dysfunction in peripheral lymphocytes. Data announced in July 2019 revealed strong and statistically significant correlation between LymPro scores and amyloid PET neuroimaging cSUVR scores (r = -0.849; p = 0.00000216).
Concurrent with this announcement, Todos announced that it has completed a capital raise for gross proceeds of $2,000,000. A summary of the terms is available on Form 6-K filed on July, 28, 2020.
“We are very pleased to have completed the acquisition of this exciting asset, which has been valued at $136 million by an independent third-party valuation firm retained by the Todos’ Board of Directors,” said Daniel Hirsch, Chief Financial Officer of Todos. “With this asset now fully in our portfolio, and with the expected cash flow from our COVID-19 testing business, we believe we can continue to increase the value of LymPro as we bring it to market through our emerging U.S. and international sales channels. Additionally, because we are seeing a number of complications after recovery from COVID-19, we believe it is prudent to begin monitoring patients for early warning signs of disease, including Alzheimer’s and cancer. If early pathology emerges, it will potentially be more treatable than if found later in the course of disease.”
A description of the terms of the acquisition is available on Form 6-K filed with the Securities and Exchange Commission on July 28, 2020.
For information related to Todos Medical’s COVID-19 testing capabilities, please visit www.todoscovid19.com
For testing and PPE inquiries, please email sales@todosmedical.com.
https://investor.todosmedical.com/news-events...eakthrough
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