Todos Medical Ltd (OTCQB:TOMDF) said it expects 2021 to be a “transformational” year for the company as it continues to build upon the initial commercial success of its COVID-19 testing while focusing on breast cancer blood testing for its post-pandemic future.
The company noted that it recently completed the installation of two Tecan liquid handlers at its largest lab client in Wisconsin, allowing it to process up to 20,000 qPCR COVID-19 tests per day and enabling it to increase sample inflows from its contract with the state of Wisconsin by up to 450%.
Todos Medical also reported that it is set to complete the installation of a similar lab automation workflow process at another lab in Brooklyn, NY in the month of December, which will bring that lab’s testing capacity to 20,000 PCR tests per day.
It said both lab initiatives demonstrate a repeatable model that it expects will significantly drive revenue for the company.
Todos added that its proprietary 3CL protease test is in the final stages of testing before launch of lab-based test that will be complementary to existing PCR testing by confirming the activity status of the virus-positive patients. It expects this assay will give better understanding of whether a patient remains contagious following quarantine or therapeutic intervention.
As well, it says a clinical trial for its dietary supplement Tollovid is being prepared in Israel, which could have an impact on the length of time a person remains infected with COVID-19.
Todos Medical believes its business model, which is now set on offering genetic and immune testing reagents and kits to its clients in response to the COVID-19, will make testing more cost-effective and scalable, which could drive the next wave of innovation in the US laboratory industry.
With the hopes that the COVID-19 vaccination programs can help reduce the severity of the pandemic, the company intends to focus its 2021 pipeline initially on breast cancer screening, where it says it is building up significant intellectual property around its proprietary TBIA/FTIR platform, as well as commercial infrastructure by way of its strategic acquisition of Provista Diagnostics.
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