Todos Medical Expands Existing Contract for COVID-19 PCR Testing Equipment & Supplies with Wisconsin-based Laboratory to $47.5 Million
(If you're keeping track this is now doubled from the original contract $23.7 mil
https://investor.todosmedical.com/news-events...r-covid-19 )
NEW YORK, NY, REHOVOT, Israel, and SINGAPORE, Sept. 22, 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 rapidly expanded its agreement with a Wisconsin-based laboratory to supply it with the necessary testing equipment and supplies to ramp up to 12,000 tests a day, for a total contract value of $47.5 million in reagent sales by Todos Medical over the next seven months. Todos will be supplying automated extraction machines, liquid handlers and PCR machines. Todos has also been granted a priority right to supply the lab with up to 100,000 COVID PCR tests per day in the event the laboratory sees significant additional testing demand.
“As we are now midway into the implementation phase with this client, we are seeing how increasing their testing capacity is being met with the pent up demand for PCR testing services from this client, especially from skilled nursing facilities,” said Gerald Commissiong, President & CEO of Todos. “There is tremendous nationwide demand for COVID-19 testing services and solutions in skilled nursing facilities. As we begin to make in-roads in developing this sales channel for our COVID test, we expect that we will be able to tailor programs using combinations of testing that allow for screening and diagnosis. We expect nursing homes and skilled nursing facilities to play a major part of our COVID-19 testing strategy. Additionally we believe this will pave the way for the deployment of our immune-based Alzheimer’s blood diagnostic LymPro Test™.”
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.
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.
https://investor.todosmedical.com/news-events...vid-19-pcr
(If you're keeping track this is now doubled from the original contract $23.7 mil
https://investor.todosmedical.com/news-events...r-covid-19 )
NEW YORK, NY, REHOVOT, Israel, and SINGAPORE, Sept. 22, 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 rapidly expanded its agreement with a Wisconsin-based laboratory to supply it with the necessary testing equipment and supplies to ramp up to 12,000 tests a day, for a total contract value of $47.5 million in reagent sales by Todos Medical over the next seven months. Todos will be supplying automated extraction machines, liquid handlers and PCR machines. Todos has also been granted a priority right to supply the lab with up to 100,000 COVID PCR tests per day in the event the laboratory sees significant additional testing demand.
“As we are now midway into the implementation phase with this client, we are seeing how increasing their testing capacity is being met with the pent up demand for PCR testing services from this client, especially from skilled nursing facilities,” said Gerald Commissiong, President & CEO of Todos. “There is tremendous nationwide demand for COVID-19 testing services and solutions in skilled nursing facilities. As we begin to make in-roads in developing this sales channel for our COVID test, we expect that we will be able to tailor programs using combinations of testing that allow for screening and diagnosis. We expect nursing homes and skilled nursing facilities to play a major part of our COVID-19 testing strategy. Additionally we believe this will pave the way for the deployment of our immune-based Alzheimer’s blood diagnostic LymPro Test™.”
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.
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.
https://investor.todosmedical.com/news-events...vid-19-pcr
