Todos Medical Announces $6,000,000 Contract for CO
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Posted On: 08/21/2020 11:22:46 AM
Todos Medical Announces $6,000,000 Contract for COVID-19 PCR Testing Equipment & Supplies with New York-based Laboratory
AUGUST 21, 2020 8:53AM EDT
6-month contract anticipates demand of 3,000 tests per day
Todos has the right to supply up to 30,000 tests per day if demand increases for the lab
NEW YORK, NY, REHOVOT, Israel, and SINGAPORE, Aug. 21, 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 sales agreement with a New York-based laboratory to supply it with the necessary testing equipment and supplies to perform up to 3,000 tests per day. Todos will be supplying automated extraction machines, liquid handlers and PCR machines in sufficient quantity to create a workflow of 3,000 qPCR tests per day. The initial contract is for approximately $1,000,000 per month for 6 months.
“The demand for PCR testing is increasing dramatically as new technologies such as antigen and antibody testing fail to provide the needed sensitivity and specificity for decision makers in the United States,” said Gerald E. Commissiong, President & CEO of Todos. “We believe increased PCR testing capacity is vital to making the rapid antibody and rapid antigen testing viable as a screening tool, where a positive test will reflex to PCR testing. As we continue to engage with customers who are dissatisfied with their existing supply chain, we see an opportunity to grab meaningful market share in the COVID-19 testing arena, especially given that Todos is positioning itself to offer the most comprehensive suite of testing solutions on the market.”
https://investor.todosmedical.com/news-events...r-covid-19
AUGUST 21, 2020 8:53AM EDT
6-month contract anticipates demand of 3,000 tests per day
Todos has the right to supply up to 30,000 tests per day if demand increases for the lab
NEW YORK, NY, REHOVOT, Israel, and SINGAPORE, Aug. 21, 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 sales agreement with a New York-based laboratory to supply it with the necessary testing equipment and supplies to perform up to 3,000 tests per day. Todos will be supplying automated extraction machines, liquid handlers and PCR machines in sufficient quantity to create a workflow of 3,000 qPCR tests per day. The initial contract is for approximately $1,000,000 per month for 6 months.
“The demand for PCR testing is increasing dramatically as new technologies such as antigen and antibody testing fail to provide the needed sensitivity and specificity for decision makers in the United States,” said Gerald E. Commissiong, President & CEO of Todos. “We believe increased PCR testing capacity is vital to making the rapid antibody and rapid antigen testing viable as a screening tool, where a positive test will reflex to PCR testing. As we continue to engage with customers who are dissatisfied with their existing supply chain, we see an opportunity to grab meaningful market share in the COVID-19 testing arena, especially given that Todos is positioning itself to offer the most comprehensive suite of testing solutions on the market.”
https://investor.todosmedical.com/news-events...r-covid-19
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