- Develops proprietary technology for blood-based disease testing
- Offers a comprehensive suite of coronavirus (COVID-19) testing solutions
- Developing significant programs in cancer and Alzheimer’s diagnostics
What Todos Medical does:
Todos Medical Ltd (OTCQB:TOMDF) is in the business of saving lives by providing the tools necessary for the early detection of life-threatening diseases such as cancer and coronavirus (COVID-19).
The Israel-based company believes blood-based tests are the future of cancer screening, using its core proprietary technology centers on testing blood cells using a Fourier-transform infrared (FTIR) spectrometer to turn biological information into data, and then using its patented Total Biochemical Infrared Analysis (TBIA) deep learning data analytics platform to mine the data in order to develop algorithms that are indicative of the presence of cancer, and the tissue of origin in the body where the cancer is located.
The TBIA detection method is based on cancer’s influence on the immune system that triggers biochemical changes in peripheral blood. Todos Medical believes the primary advantages of the TBIA platform are the high accuracy (sensitivity and specificity) and low costs of goods sold (COGS), due to the biological information being captured using spectroscopy versus biological antibody capture methods that require the manufacture of multiple antibodies to capture a biological signature.
The company and its academic partners at Ben Gurion University have also published research suggesting FTIR has the potential to be used to identify the presence of viral and bacterial infections, and it is currently evaluating how best to pursue its technology as it relates to the early detection of COVID-19.
Todos Medical has established a comprehensive suite of testing solutions for addressing the COVID-19 crisis that includes its proprietary qPCR (quantitative polymerase chain reaction testing) testing kits, which amplifying a virus’ genetic material to a level where it can be detected in even the smallest of amounts, as well as its Point of Care (POC) Antibody Tests to determine if someone has antibodies from a past COVID-19 infection.
In addition, Todos Medical has decided to expand into the detection of Alzheimer’s disease, as it views Alzheimer’s as cancer of neuronal cells that are incapable of completing cell division due to their post-mitotic nature.
How is it doing:
Commercial demand for Todos Medical’s COVID-19 tests is steadily increasing, thanks in part to expanding distribution networks at the state and local levels.
February 2021 sales were $7.15 million, a 38% increase from $5.18 million in January. That jump was predominantly driven by higher COVID-19 PCR reagent and supply sales from a new, New York City area client who recently completed installation and validation of Todos Medical’s turnkey, automated workflow solution, including Tecan instrumentation.
Todos Medical said it also expects another one of its pending NYC area clients to become operational and begin to bring sample processing in-house. This client primarily provides comprehensive testing solutions for skilled nursing facilities.
On top of growing revenue, the company got another boost to kick off the new year with a $3.4 million strategic investment from tech-focused venture capital firm Yozma Group Korea.
Todos Medical intends to use the money to retire outstanding convertible notes as well as complete the acquisition of Provista Diagnostics for its Videssa breast cancer blood test and its COVID-19 PCR-testing capabilities at its Georgia-based CLIA/CAP certified lab.
The capital injection comes at a time when Todos Medical is also developing blood tests for the early detection of neurodegenerative disorders, such as Alzheimer’s disease. One product in the works is called the Lymphocyte Proliferation Test (LymPro Test).
Additionally, the company has entered into distribution agreements with companies to distribute certain novel 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.
Todos Medical has also formed strategic partnerships with Integrated Health LLC, MOTOPARA Foundation to deploy mobile COVID-19 testing across the United States.
As for contracts, the company recently struck a preferred vendor agreement to supply COVID-19 related testing products and services to Natural Wellness Clinics (NWC) for use in its efforts to test Kentucky’s uninsured. NWC just landed a $93 million state contract to conduct the testing.
Todos Medical also signed an agreement with Aditx Therapeutics Inc (NASDAQ:ADTX), under which Todos has the rights to distribute Aditx’s immune-related AditxtScore COVID-19 scoring system. Todos Medical and/or its network of partners will collect blood samples that will be sent to Aditxt’s CLIA accredited AditxtScore Center for processing.
Meanwhile, the company has launched commercially its proprietary 3CL protease inhibitor dietary supplement Tollovid, a mix of botanical extract, at plant-based wellness brand The Alchemist’s Kitchen in New York. Tollovid inhibits the activity of the 3CL protease, a key protease required for the intracellular replication of coronaviruses. Tollovid was granted a Certificate of Free Sale by the US Food and Drug Administration in August 2020, allowing its commercial sale anywhere in the US.
- Expect PCR COVID-19 testing kits to drive sales
- Anticipate $60 million in revenue by the end of 2H 2021
- Distribute Aditx’s immune-related AditxtScore COVID-19 scoring system
What the boss says:
“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 Todos Medical CEO Gerald Commissiong, after releasing strong February sales results.
“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,” he added.
Contact the author: [email protected]
Follow him on Twitter @PatrickMGraham
Story by ProactiveInvestors
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