Todos Medical Ltd. (OTCQB:TOMDF) announced that it has received a notice of allowance from the European Patent Office covering the use of the company’s Total Biochemical Infrared Analysis (TBIA) platform to detect benign colon cancer in peripheral blood.
The TBIA platform uses spectroscopy-based infrared analysis method to analyze immune cells in the blood or order to turn the biological information in the blood into data, and then mines that data using artificial intelligence to develop algorithms that are predictive of cancer and other diseases that impact the immune system, including bacteria and viruses. TBIA’s lead programs are in the detection of breast cancer and colon cancer.
“We are very pleased that we’ve received this notice of allowance for TBIA in benign tumors as it further adds to our market-leading position as an AI-based cancer blood screening company,” said Gerald E. Commissiong, President & CEO of Todos Medical in a statement.
“In particular, the method underlying this IP could be quite complementary to existing screening methods by adding additional information to help physicians distinguish between benign (polyps) and malignant tumors of the colon using a simple blood test. Taken in combination with some of our other patents and patent applications that cover the detection of malignant tumors of the colon, we believe we now have intellectual property that fully supports commercialization of our TBIA cancer platform for colon cancer.”
The global market for in-vitro colorectal cancer (CRC) testing is estimated to reach $1.2 Billion by 2025, growing at a CAGR of 8.7% over the forecast period, driven by higher incidence and prevalence for colon and rectum cancers, colorectal polyps screening and improved treatment over the last few decades. Aging population and rising incidences of colorectal cancer, diabetes, inflammatory bowel disease, inherited syndrome, obesity, and smoking are some of the factors driving the in vitro CRC testing market.
According to the American Cancer Society (2018), an estimated 135,430 people were diagnosed with colorectal cancer in the United States. The American Cancer Society’s estimates number of 95,520 new cases of colon cancer and 39,910 new cases of rectal cancer in the United States for 2017.
Headquartered in Rehovot, Israel, Todos Medical is an in vitro diagnostics company focused on distributing comprehensive solutions for coronavirus (COVID-19) screening and diagnosis, and developing blood tests for the early detection of cancer and Alzheimer’s disease.
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 US.-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.
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