Todos Medical Announces $7.2M in Sales for February 2021, a 38% Month Over Month Increase From Sales of $5.2M in January 2021
Todos Medical (OTCQB: TOMDF) announced $7.15 million in sales for February 2021, a 38.1% increase from January's $5.18 million. This growth is attributed to a new client in the NYC Tri-State Area focusing on COVID-19 testing for schools. The company is optimizing its PCR testing business and expects an additional client to begin operations soon. Todos aims to enhance its COVID-19 product offerings and continue developments in cancer and Alzheimer’s disease diagnostics. The passage of the American Recovery Act is anticipated to support large-scale testing efforts.
- 38.1% increase in monthly sales from January to February 2021.
- Successful new client installation in NYC focused on COVID-19 testing.
- Strengthening COVID-19 product offerings in collaboration with Aditxt.
- Acquisition of Provista Diagnostics expected to enhance testing capabilities.
- None.
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· President Biden signs American Recovery Act into law
NEW YORK, NY, REHOVAT, ISRAEL, March 12, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Todos Medical, Ltd. (OTCQB: TOMDF), an in vitro diagnostics company focused on distributing comprehensive solutions for COVID-19 screening, diagnosis and immune support, as well as developing blood tests for early detection of cancer and Alzheimer’s disease, today announced
The increase in sales was predominantly driven by increased PCR reagent and supply sales from a new New York City (NYC) Tri-State Area client, who recently completed installation and validation of Todos’ turnkey, automated workflow solution, including Tecan™ instrumentation. Todos’ solution enables laboratories to increase revenue through the rapid expansion of processing capacity in order to cost-effectively bring sample processing in-house instead of referencing it out to partner labs. This client will be particularly focused on COVID testing for schools planning to re-open in-person learning. Additionally, Todos expects another one of its pending NYC Tri-State Area clients to become operational and begin to bring sample processing in-house in the coming weeks. This client primarily provides comprehensive testing solutions for skilled nursing facilities.
“We have spent the last several months in execution mode, focusing on optimizing our PCR testing business, aligning ourselves more closely with our world-class engineering consultants, automating sample tracking and data reporting workflows, and training our clients’ lab staff to take on the significant task of reporting results for healthcare and other providers,” said Gerald E. Commissiong, President & CEO of Todos Medical. “Along with the accelerating growth of our main COVID-19 PCR reagents and supply business for labs, we are continuing to optimize our COVID-19 product offering, including working closely with our strategic partner Aditxt (NASDAQ: ADTX) to build the world’s best immune profiling test that will provide information on immunity status to better understand an individual’s risk of infection while easing social restrictions such as in nursing home visits. We are working diligently to complete the acquisition of Provista Diagnostics which will add core molecular testing capabilities to our growing infrastructure and provide a breeding ground for optimized COVID-19 testing panels that will eventually lead to monitoring for derivative COVID-19 monitoring opportunities in early detection of breast cancer and Alzheimer’s disease, especially in long hauler COVID-19 patients.”
Mr. Commissiong continued, “Furthermore, we are extremely pleased with the passage of the American Recovery Act. This vital legislation will unlock the resources needed to implement testing at scale and make our communities safer so children can return to school, and parents can get back to work.”
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.
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 a strategic partnership with Integrated Health LLC to deploy mobile COVID-19 testing in the United States. Additionally, Todos has entered into a joint venture with NLC Pharma to pursue the development of diagnostic tests targeting the 3CL protease, as well as 3CL protease inhibitors that target the reproductive mechanism of coronaviruses.
For more information, please visit https://www.todosmedical.com/.
Forward-looking Statements
Certain statements contained in this press release may constitute forward-looking statements. For example, forward-looking statements are used when discussing our expected clinical development programs and clinical trials. These forward-looking statements are based only on current expectations of management, and are subject to significant risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, including the risks and uncertainties related to the progress, timing, cost, and results of clinical trials and product development programs; difficulties or delays in obtaining regulatory approval or patent protection for product candidates; competition from other biotechnology companies; and our ability to obtain additional funding required to conduct our research, development and commercialization activities. In addition, the following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; delays or obstacles in launching our clinical trials; changes in legislation; inability to timely develop and introduce new technologies, products and applications; lack of validation of our technology as we progress further and lack of acceptance of our methods by the scientific community; inability to retain or attract key employees whose knowledge is essential to the development of our products; unforeseen scientific difficulties that may develop with our process; greater cost of final product than anticipated; loss of market share and pressure on pricing resulting from competition; and laboratory results that do not translate to equally good results in real settings, all of which could cause the actual results or performance to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, Todos Medical does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting Todos Medical, please refer to its reports filed from time to time with the U.S. Securities and Exchange Commission.
Todos Investor Contact:
Richard Galterio
Ascendant Partners LLC
Managing Partner
732-642-7770
Todos Corporate Contact:
Priyanka Misra
Todos Medical
(917) 983-4229 ext. 103
priyanka@todosmedical.com
FAQ
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