Todos Medical Provides Corporate Update: Retooling
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Posted On: 09/27/2023 5:13:01 AM
Todos Medical Provides Corporate Update: Retooling to Focus on Long COVID Epidemic
NEW YORK, NY, ALPHARETTA, GA and TEL AVIV, ISRAEL, Sept. 26, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire - Todos Medical, Ltd. (OTCQB: TOMDF), an innovative healthcare solutions company, today provided a corporate update to its stakeholders centered on the Company’s efforts to retool and focus primarily on addressing the Long COVID epidemic that is affecting over 15 million Americans, over 6% of the adult US population, according to the US Centers for Disease Control. Todos intends to deploy medical foods to aid physicians in the dietary management of Long COVID, optimize immune support with nutritional supplements targeting the 3CL protease, and precision diagnostic panels to assist in the diagnosis and monitoring of Long COVID patients. A recent report by David Cutler of Harvard University estimates the annual Long COVID cost to the US economy is $3.7 trillion.
3CL Pharma USA, Inc.: Tollovid™, Tollovir™ and TolloTest™
Todos has finalized a new agreement with NLC Pharma, Ltd., our partner on the development and commercialization of 3CL protease-related products, to license dietary supplement Tollovid, therapeutic candidate Tollovir and biomarker assay TolloTest. Tollovid is currently marketed online direct to consumers through Amazon and MyTollovid.com, Tollovir has completed a Phase 2 clinical trial in hospitalized COVID, and biomarker assay TolloTest has completed analytical and clinical validation in hospitalized COVID, and initial proof of concept as a tool to quickly diagnose COVID in outpatients.
Under the terms of the new license agreement, wholly-owned subsidiary 3CL Pharma USA, Inc. (3CL Pharma) licensed rights for the manufacture and distribution of Tollovid, Tollovir and TolloTest in the United States, Canada, Mexico, Ghana and the Caribbean (the “Territories”). Todos can continue to serve international online customers outside the Territories through its MyTollovid.com website. Todos is required to complete license fees payments to NLC Pharma within 90 days of execution of the agreement for exclusivity in the Territories, a per bottle royalty on dietary supplement and medical food sales, and fees to expand rights to include key jurisdictions beyond the Territories. Todos retains 100% ownership of the equity in 3CL Pharma. The companies expect to complete all the closing conditions of the agreement on or before December 15, 2023, subject to earlier termination under certain conditions.
With this signed agreement now in place, the Company is now able to swiftly implement our strategy of crowdfunding within the 3CL Pharma entity to fund a Long COVID clinical trial. We expect to have announcements about the crowdfunding details, as well as product updates for Tollovid and business plan updates for 3CL Pharma in the coming weeks.
Provista Diagnostics, Inc.: Long COVID Testing
With the ending of the public health emergency (PHE) in the United States, there has been a substantial drop off in demand for the COVID PCR testing that was responsible for the majority of Provista’s revenue from 2021 to 2023. As a result of significant work we did during the PHE with Amerimmune on Long COVID after establishing the Post COVID Immune Test, we now have immune testing available that falls in line with a recent key publication in Nature from the Putrino Lab and the Yale School of Medicine describing various important Long COVID biomarkers. Provista will also establish the cardiovascular, metabolic and hormonal panels relevant for Long COVID patients. Our objective is to become the go to lab for Long COVID diagnosis and monitoring, including for clinical trials and investigational biomarkers, to support the Long COVID community health journey.
As a result of increased risk of cancer and Alzheimer’s among Long COVID patients, we believe that our proprietary Videssa™ breast cancer and LymPro Alzheimer’s blood tests will help arm Long COVID patients and all patients with additional tools to be proactive with their healthcare. We intend to initially bring these tests to market through Laboratory Developed Tests (LDTs).
Corporate Structure
The Company intends to create value for its shareholders through its equity ownership in 3CL Pharma that will allow it to offset its outstanding liabilities and capture the full value of the 3CL Pharma product offering for the Long COVID community via crowdfunding and subsequent listing of 3CL Pharma.
For more information, please visit todosmedical.com. For more information on the Company’s dietary supplement that provides immune support with 3CL protease inhibition, please visit www.mytollovid.com.
https://investor.todosmedical.com/news-events...g-to-focus
NEW YORK, NY, ALPHARETTA, GA and TEL AVIV, ISRAEL, Sept. 26, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire - Todos Medical, Ltd. (OTCQB: TOMDF), an innovative healthcare solutions company, today provided a corporate update to its stakeholders centered on the Company’s efforts to retool and focus primarily on addressing the Long COVID epidemic that is affecting over 15 million Americans, over 6% of the adult US population, according to the US Centers for Disease Control. Todos intends to deploy medical foods to aid physicians in the dietary management of Long COVID, optimize immune support with nutritional supplements targeting the 3CL protease, and precision diagnostic panels to assist in the diagnosis and monitoring of Long COVID patients. A recent report by David Cutler of Harvard University estimates the annual Long COVID cost to the US economy is $3.7 trillion.
3CL Pharma USA, Inc.: Tollovid™, Tollovir™ and TolloTest™
Todos has finalized a new agreement with NLC Pharma, Ltd., our partner on the development and commercialization of 3CL protease-related products, to license dietary supplement Tollovid, therapeutic candidate Tollovir and biomarker assay TolloTest. Tollovid is currently marketed online direct to consumers through Amazon and MyTollovid.com, Tollovir has completed a Phase 2 clinical trial in hospitalized COVID, and biomarker assay TolloTest has completed analytical and clinical validation in hospitalized COVID, and initial proof of concept as a tool to quickly diagnose COVID in outpatients.
Under the terms of the new license agreement, wholly-owned subsidiary 3CL Pharma USA, Inc. (3CL Pharma) licensed rights for the manufacture and distribution of Tollovid, Tollovir and TolloTest in the United States, Canada, Mexico, Ghana and the Caribbean (the “Territories”). Todos can continue to serve international online customers outside the Territories through its MyTollovid.com website. Todos is required to complete license fees payments to NLC Pharma within 90 days of execution of the agreement for exclusivity in the Territories, a per bottle royalty on dietary supplement and medical food sales, and fees to expand rights to include key jurisdictions beyond the Territories. Todos retains 100% ownership of the equity in 3CL Pharma. The companies expect to complete all the closing conditions of the agreement on or before December 15, 2023, subject to earlier termination under certain conditions.
With this signed agreement now in place, the Company is now able to swiftly implement our strategy of crowdfunding within the 3CL Pharma entity to fund a Long COVID clinical trial. We expect to have announcements about the crowdfunding details, as well as product updates for Tollovid and business plan updates for 3CL Pharma in the coming weeks.
Provista Diagnostics, Inc.: Long COVID Testing
With the ending of the public health emergency (PHE) in the United States, there has been a substantial drop off in demand for the COVID PCR testing that was responsible for the majority of Provista’s revenue from 2021 to 2023. As a result of significant work we did during the PHE with Amerimmune on Long COVID after establishing the Post COVID Immune Test, we now have immune testing available that falls in line with a recent key publication in Nature from the Putrino Lab and the Yale School of Medicine describing various important Long COVID biomarkers. Provista will also establish the cardiovascular, metabolic and hormonal panels relevant for Long COVID patients. Our objective is to become the go to lab for Long COVID diagnosis and monitoring, including for clinical trials and investigational biomarkers, to support the Long COVID community health journey.
As a result of increased risk of cancer and Alzheimer’s among Long COVID patients, we believe that our proprietary Videssa™ breast cancer and LymPro Alzheimer’s blood tests will help arm Long COVID patients and all patients with additional tools to be proactive with their healthcare. We intend to initially bring these tests to market through Laboratory Developed Tests (LDTs).
Corporate Structure
The Company intends to create value for its shareholders through its equity ownership in 3CL Pharma that will allow it to offset its outstanding liabilities and capture the full value of the 3CL Pharma product offering for the Long COVID community via crowdfunding and subsequent listing of 3CL Pharma.
For more information, please visit todosmedical.com. For more information on the Company’s dietary supplement that provides immune support with 3CL protease inhibition, please visit www.mytollovid.com.
https://investor.todosmedical.com/news-events...g-to-focus
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