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Todos Medical has developed the technological tools for early disease detection

Snapshot

The Israel-based company believes blood-based tests are the future of cancer screening, while sales of its coronavirus testing solutions continue to surge

Todos Medical Ltd. - Todos Medical has developed the technological tools for early disease detection

Quick facts: Todos Medical Ltd.

Price: 0.04 USD

OTCQB:TOMDF
Market: OTCQB
Market Cap: $8.52 m
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  • Proprietary technology for blood-based disease testing
  • Comprehensive suite of coronavirus testing solutions
  • Developing significant programs in cancer and Alzheimer’s diagnostics

What Todos Medical does:

Israel-based 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 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 a cancer’s influence on the immune system that triggers biochemical changes in peripheral blood. Todos 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 also 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.

The company is led by CEO Gerald Commissiong, who is also CEO of Todos joint venture partner Amarantus Bioscience Holdings, Inc. While at Amarantus, Commissiong has been responsible for strategic transactions, licensing, research collaborations, and mergers & acquisitions in therapeutics and diagnostics, while raising more than $50 million since the company’s inception.

How is it doing:

Todos Medical made the first commercial sale of its COVID-19 tests earlier this year through a sub-distribution agreement with a US-based medical distribution company with clients in state and local governments throughout the southeastern United States.

It also announced in a recent shareholder update that it is “squarely focused” on COVID-19 for the immediate term and expects revenues generated from sales of its COVID-19 testing solutions to be a near-term driver of business, this while positioning itself to capitalize on the “very significant programs” it has developed in cancer and Alzheimer’s diagnostics. The company said it wants to become a ‘one stop shop’ for all things COVID testing related.  

More recently, the company announced what it called “positive clinical proof of concept data” from its lab-based rapid SARS-CoV-2 3CL protease diagnostic test in collaboration with its joint venture partner NLC Pharma. It said the data, which was generated by NLC Pharma in Israel, produced 100% sensitivity and 100% specificity in PCR-confirmed positive and negative COVID-19 patient samples.

Todos Medical also reported positive in-vitro data for its dietary supplement Tollovid that shows its ability to inhibit the 3CL protease, an enzyme that facilitates intracellular replication of coronaviruses. Tollovid is an orally-administered proprietary blend of plant extracts that includes a powerful 3CL protease inhibitor that helps support and maintain healthy immune function.

And, the company completed the installation of Tecan laboratory automated equipment at its Wisconsin client’s lab, significantly boosting the lab’s total testing capacity to 12,000 COVID-19 PCR tests per day.

On the financial front, Todos Medical generated revenue of $2 million in 3Q 2020, ended September 30, 2020, from sales of ANDis 350 automated extraction machines, related extraction reagent kits, and deposits for reagent supply agreements.

Since then, Todos Medical received its first payments from a $47.5 million contract with its Wisconsin-based client on October 9, 2020, noting that existing contracts have the potential to deliver over $60 million in revenue by the end of the second quarter of 2021.

Extraction reagents sales also drove the company’s revenue up 147% month-over-month in October 2020 to $867,000.   

Inflection points:

  • qPCR COVID-19 testing kits to drive near-term sales
  • Expecting to be cash-flow positive by 4Q 2020  
  • Potential to generate $60 million in revenue by the end of 2H 2021

What the boss says:

Commenting on the company’s surging sales in October, Todos Medical CEO Gerald Commissiong said in a statement: “The month of October was critical for Todos as we continued to build the infrastructure needed to support sales growth in our extraction reagents business, and began preparations for the addition of qPCR kits as a major revenue driver heading into the winter months”.

He added: “We've made considerable investments to help our clients automate various lab processes to improve efficiency, capacity and quality control for COVID testing. We have identified suppliers and have now sourced large quantities of vital accessories, such as manual and robotic pipette tips and qPCR plates, that are in extremely short supply in the lab services market as testing increases worldwide”.  

Contact Sean at sean@proactiveinvestors.com

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on 01/25/2021

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