REHOVOT, Israel, Sept. 03, 2019 (GLOBE NEWSWIRE) -- Todos Medical Ltd. (OTCQB: TOMDF), a clinical-stage in-vitro diagnostics company focused on the development of blood tests for the early detection of cancer and neurodegenerative disorders, today announced that the Company has entered into a non-binding Memorandum of Understanding (MOU) with Orot+, the operational division of Orot-Luces (http://orot-luces.com), to expand their existing launch and distribution partnership for the commercial sale of Todos’ early breast cancer detection blood tests TM-B1 and TM-B2 into Japan.
Under the terms of the MOU, Orot+ has agreed to spend a minimum of $2.5M towards clinical development, regulatory approval and commercial launch of the tests by way of a soon to be formed Japanese Distribution Company which will be granted the exclusive rights to sell and distribute TM-B1 and TM-B2 in Japan. The execution of this MOU expands the relationship between Todos and Orot+, as the companies signed a definitive exclusive distribution agreement for both of TM-B1 and TM-B2 in Romania and Austria in April 2019.
“We are excited to expand our commercialization network for TM-B1 and TM-B2 into Japan, and are especially happy we are again partnering with Orot+, who will drive the market launch and distribution efforts. Our blood tests are designed to detect the presence of breast cancer at early stages of disease, and we know that early diagnosis and treatment greatly improves patient outcomes,” said Dr. Herman Weiss, President & CEO of Todos Medical. “Japan, like much of Asia, has an enhanced need for alternatives to mammogram as the primary breast cancer diagnostic, due to the high incidence of women with dense breast tissue, making this an especially important market for us.”
“We are satisfied that Todos has recognized our unique market position and decided to partner with us to launch their cancer detection blood test in the Japanese market. While Japan has the worlds second largest economy, there are serious unmet needs in cancer care. Orot is focused on offering unique and customized diagnostic solutions,” said Mr. Ron Streichman, CEO of Orot-Luces.
About Todos Medical Ltd.
Todos Medical Ltd. is an in-vitro diagnostic company engaged in the development of blood tests for the early detection of a variety of cancers, and also has initiated the development of blood tests for neurodegenerative disorders such as Alzheimer's disease through Breakthrough Diagnostics, Inc., its joint venture with Amarantus Bioscience Holdings, Inc. Todos has developed two cancer screening tests based on TBIA (Todos Biochemical Infrared Analyses), a method for cancer screening using peripheral blood analysis. The TBIA screening method is based on the cancer’s influence on the immune system, which triggers biochemical changes in peripheral blood mononuclear cells and plasma. This proprietary and patented method incorporates biochemistry, physics and signal processing. The company’s two cancer screening tests, TM-B1 and TM-B2, have received the CE mark. Breakthrough Diagnostics is developing the LymPro Test®, a blood test for diagnosing Alzheimer’s disease.
For more information, the content of which is not part of this press release, please visit http://www.Todosmedical.com.
About Breakthrough Diagnostics, Inc.
Breakthrough Diagnostics, Inc. is a joint venture owned by Amarantus Bioscience Holdings, Inc. (OTCPK: AMBS) (80.01%) and Todos Medical Ltd. (19.99%). Breakthrough has been assigned the intellectual property and other rights to the LymPro Test®, a diagnostic blood test for Alzheimer’s disease, as well as rights to other neurological diagnostics testing intellectual property. Todos Medical has provided Amarantus with notice of Todos’ decision to exercise its exclusive option to acquire the 80.01% of Breakthrough Diagnostics that it currently does not own.
The Lymphocyte Proliferation Test (LymPro Test™) 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 surrogates for neuronal cell function, suggesting a common relationship between PBLs and neurons in the brain.
About Orot+
Orot+, an Israeli company headquartered in Tel-Aviv , is the operational division of Orot-Luces (http://orot-luces.com). Orot+ focuses on connecting innovative solutions with significant unmet needs in the cancer care eco-system mainly in Europe and SE Asia. Orot+ team has vast experience and proven track record in building and operating medical services. Orot+ maintains close working relationships with Amethyst (Amethyst-radiotheraphy.com) a pan-European Radiotheraphy network which the Orot+ team was actively involved in establishing and operating. Orot+ is well established and connected to key opinion leaders, doctors, clinics, hospitals, medical centers and has close working relationships with regulatory bodies and reimbursement agencies.
Forward-looking Statements
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.
Investor and Media Contact:
Miriam Weber Miller
LHA Investor Relations
Senior Vice President
Email: mmiller@lhai.com
Phone: +1-212-838-3777
Corporate Contact:
Daniel Hirsch
Todos Medical
Investor Relations
Email: Dan.h@todosmedical.com
Phone: (347) 699-0029