Todos Medical Announces August Sales of $1,190,000, Up 100% Compared with July
Download as PDFSEPTEMBER 03, 2020 8:02AM EDT
NEW YORK, REHOVOT, Israel and SINGAPORE, Sept. 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 sales for the month of August 2020 were $1,190,000. This compares with sales for the month of July 2020 of $550,000, with growth driven by week-over-week increases in demand for extraction reagents and automated extraction equipment.
During August, Todos also signed sales contracts with laboratories in New York, Texas and Wisconsin with a total value of more than $35 million and the right to supply up to 280,000 COVID-19 PCR tests per day. Todos also entered into a common stock purchase agreement with Lincoln Park Capital, and signed an agreement with a South Korean manufacturer of rapid diagnostic tests for U.S. distribution rights to its proprietary 10-minute rapid point-of-care (POC) antigen test (Rapid Antigen) and its proprietary 40-minute rapid POC PCR test (Rapid PCR) for SARS-CoV-2. Additionally, the Company announced positive analytical performance data for its proprietary saliva-based point of care rapid 3C protease COVID-19 test currently being developed with joint venture partner NLC Pharma.
“I’m pleased to be reporting 100% sequential-month sales growth while in parallel advancing our business strategy with new sales agreements and key strategic partnerships with global med-tech leaders, making several executive appointments and strengthening our balance sheet,” said Gerald E. Commissiong, President & CEO of Todos. “We believe there is opportunity for Todos to add significant innovation for cancer and Alzheimer’s testing in the U.S. healthcare system, and we intend to vigorously pursue these opportunities while continuing to drive sales growth for our COVID-19 testing business. As we expand our sales reach, we have initiated clinical studies for proprietary saliva-based 3C Protease and entered into a partnership with Pangea to integrate testing data reporting functions into telehealth platforms to improve data reporting functions for the ‘bubbles’ we are looking to help our clients establish across the United States. Taken together, we believe taking a more comprehensive approach to COVID-19 is required, as end clients are looking to purchase integrated solutions that can facilitate re-opening safely.”
For information related to Todos Medical’s COVID-19 testing capabilities, please visit www.todoscovid.com
https://investor.todosmedical.com/news-events...000-up-100
Download as PDFSEPTEMBER 03, 2020 8:02AM EDT
NEW YORK, REHOVOT, Israel and SINGAPORE, Sept. 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 sales for the month of August 2020 were $1,190,000. This compares with sales for the month of July 2020 of $550,000, with growth driven by week-over-week increases in demand for extraction reagents and automated extraction equipment.
During August, Todos also signed sales contracts with laboratories in New York, Texas and Wisconsin with a total value of more than $35 million and the right to supply up to 280,000 COVID-19 PCR tests per day. Todos also entered into a common stock purchase agreement with Lincoln Park Capital, and signed an agreement with a South Korean manufacturer of rapid diagnostic tests for U.S. distribution rights to its proprietary 10-minute rapid point-of-care (POC) antigen test (Rapid Antigen) and its proprietary 40-minute rapid POC PCR test (Rapid PCR) for SARS-CoV-2. Additionally, the Company announced positive analytical performance data for its proprietary saliva-based point of care rapid 3C protease COVID-19 test currently being developed with joint venture partner NLC Pharma.
“I’m pleased to be reporting 100% sequential-month sales growth while in parallel advancing our business strategy with new sales agreements and key strategic partnerships with global med-tech leaders, making several executive appointments and strengthening our balance sheet,” said Gerald E. Commissiong, President & CEO of Todos. “We believe there is opportunity for Todos to add significant innovation for cancer and Alzheimer’s testing in the U.S. healthcare system, and we intend to vigorously pursue these opportunities while continuing to drive sales growth for our COVID-19 testing business. As we expand our sales reach, we have initiated clinical studies for proprietary saliva-based 3C Protease and entered into a partnership with Pangea to integrate testing data reporting functions into telehealth platforms to improve data reporting functions for the ‘bubbles’ we are looking to help our clients establish across the United States. Taken together, we believe taking a more comprehensive approach to COVID-19 is required, as end clients are looking to purchase integrated solutions that can facilitate re-opening safely.”
For information related to Todos Medical’s COVID-19 testing capabilities, please visit www.todoscovid.com
https://investor.todosmedical.com/news-events...000-up-100
