Todos Medical Announces Strategic Investment by Yo
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Posted On: 01/26/2021 1:19:17 AM
Todos Medical Announces Strategic Investment by Yozma Group Korea
NEW YORK, NY, REHOVAT, ISRAEL, SOUTH KOREA, Jan. 25, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire --Todos Medical (OTCQB: TOMDF), an in vitro diagnostics company focused on distributing comprehensive solutions for COVID-19 screening and diagnosis and developing blood tests for early detection of cancer and Alzheimer’s disease, today announced a $3.4 million strategic investment (the “Investment”) from tech-focused venture capital firm Yozma Group Korea (“Yozma”).
“Yozma Group Korea is pleased to make this Investment into Todos Medical,” said Investment team of Yozma Group Korea. “The rapid growth Todos has been able to generate by bringing together and deploying comprehensive solutions for COVID-19 testing speaks volumes about the management team’s ability to execute a commercial strategy in a difficult environment. We see a significant opportunity to fuel Todos’ growth with this capital infusion as complementary products are added to their expanding sales pipeline. Moreover, we see tremendous opportunity to help drive cross-border collaboration for Todos in South Korea.”
Under the terms of the agreement, Yozma has been issued a one-year $3.4M convertible promissory note that is convertible into common shares at a fixed price of $0.0599 per share. Todos intends to use the proceeds from the Investment primarily to retire outstanding convertible notes, complete the acquisition of Provista Diagnostics for its Videssa breast cancer test and its COVID-19 PCR testing capabilities, and general working capital.
“Yozma is one of the leading cross-border investment firms in South Korea, and their investment is a significant milestone for Todos,” said Gerald Commissiong, President & CEO of Todos Medical. “This capital infusion is extremely well timed, insofar as Todos will be able to aggressively pursue sales growth expansion and begin to move the rest of the Company’s portfolio forward. We believe the COVID-19 pandemic has reignited tremendous interest in the diagnostic testing space as we realize that monitoring for health is paramount for early diagnosis which leads to early intervention, as well as improved treatment outcomes.”
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...ozma-group
NEW YORK, NY, REHOVAT, ISRAEL, SOUTH KOREA, Jan. 25, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire --Todos Medical (OTCQB: TOMDF), an in vitro diagnostics company focused on distributing comprehensive solutions for COVID-19 screening and diagnosis and developing blood tests for early detection of cancer and Alzheimer’s disease, today announced a $3.4 million strategic investment (the “Investment”) from tech-focused venture capital firm Yozma Group Korea (“Yozma”).
“Yozma Group Korea is pleased to make this Investment into Todos Medical,” said Investment team of Yozma Group Korea. “The rapid growth Todos has been able to generate by bringing together and deploying comprehensive solutions for COVID-19 testing speaks volumes about the management team’s ability to execute a commercial strategy in a difficult environment. We see a significant opportunity to fuel Todos’ growth with this capital infusion as complementary products are added to their expanding sales pipeline. Moreover, we see tremendous opportunity to help drive cross-border collaboration for Todos in South Korea.”
Under the terms of the agreement, Yozma has been issued a one-year $3.4M convertible promissory note that is convertible into common shares at a fixed price of $0.0599 per share. Todos intends to use the proceeds from the Investment primarily to retire outstanding convertible notes, complete the acquisition of Provista Diagnostics for its Videssa breast cancer test and its COVID-19 PCR testing capabilities, and general working capital.
“Yozma is one of the leading cross-border investment firms in South Korea, and their investment is a significant milestone for Todos,” said Gerald Commissiong, President & CEO of Todos Medical. “This capital infusion is extremely well timed, insofar as Todos will be able to aggressively pursue sales growth expansion and begin to move the rest of the Company’s portfolio forward. We believe the COVID-19 pandemic has reignited tremendous interest in the diagnostic testing space as we realize that monitoring for health is paramount for early diagnosis which leads to early intervention, as well as improved treatment outcomes.”
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...ozma-group
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