Todos Medical Completes Automation Equipment Installation and Training for Meadowlands Diagnostics
04/01/2021 | 08:22am EDT
· Minority-owned lab now well positioned to attract and expand institutional contracts with skilled nursing facilities, ambulatory surgery centers, schools & first responders
· Automation solution increases processing capacity to 6,000 PCR tests per day, expandable to 12,000 daily tests with minor upgrades
· Todos expects to see a progressive increase in sales to this client in the second half of 2021 through exclusive PCR supply agreement
NEW YORK, NY, and REHOVAT, ISRAEL, April 01, 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 successful installation of automated lab equipment and completion of training for Wood-Ridge, NJ-based lab client Meadowlands Diagnostics (“Meadowlands Diagnostics”).
“With the completion of automation at Meadowlands Diagnostics, we have brought two new client labs online in March and now have three fully automated laboratory clients in operation, with a fourth on the way,” said Gerald E. Commissiong, President & CEO of Todos Medical. “We have received their initial sales orders for stocking COVID testing supplies in February and expect to see sales orders from these new labs progressively increase in the second half of 2021 as they ramp up operations. Furthermore, we believe our growing family of lab clients will provide Todos with a more diversified revenue base and greater future sales potential. As the Todos solution continues to gain traction in the space, we are confident that our future growth in this business will be fueled by adding additional laboratories seeking a cost-effective way to meet the needs of COVID testing customers in the markets they service. We are excited to welcome the team at Meadowlands Diagnostics to the Todos family and look forward to helping them build their business as a trusted partner for years to come.”
The Todos automation solution is expected to be instrumental in helping Meadowlands Diagnostics with new contracts entered into with skilled nursing facilities, ambulatory surgery centers, local schools and first responders. As the provider of PCR testing supplies to Meadowlands Diagnostics, Todos expects to see a progressive increase in sales to this client in the second half of 2021 and into 2022 as the lab seeks to grow its PCR testing business.
By implementing the Todos automation solution, Meadowlands Diagnostics now has a capacity of 6,000 PCR tests per day, with the potential to quickly expand to up to 12,000 PCR tests per day. Additionally, the lab could potentially increase processing capacity to in excess of 40,000 PCR tests per day through the future implementation of pooling at a 4:1 ratio.
“When we opened Meadowlands Diagnostics at the beginning of the pandemic, we quickly realized that we were unable to meet the needs of the community,” said Reginald Samuels, President & CEO of Meadowlands Diagnostics. “Now that we’ve partnered with Todos Medical, we have the capacity we need to be able to serve the needs of our community.”
For information related to Todos Medical’s COVID-19 testing capabilities, please visit www.todoscovid19.com.
For testing and PPE inquiries, please email firstname.lastname@example.org.
About Todos Medical Ltd.
Founded in Rehovot, Israel with offices in New York City, 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 currently performing PCR COVID testing 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.
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.