Todos Med Ltd (TOMDF)

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Todos Medical Enters into Exclusive Branding and Distribution Agreement with Melbourne Biotech for 96 and 384 Well RT-PCR Machines in the United States

NEW YORK, NY, REHOVOT, Israel, and SINGAPORE, Sept. 30, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- Todos Medical Ltd. (OTCQB: TOMDF), an in vitro diagnostics company focused on distributing comprehensive solutions for COVID-19 screening and diagnosis, and developing blood tests for the early detection of cancer and Alzheimer’s disease, today announced that it has entered into an exclusive branding and distribution agreement with Australia-headquartered Melbourne Biotech, a US FDA-registered manufacturer, to supply high complexity CLIA laboratories in the United States with 96 and 384 well Real Time Polymerase Chain Reaction (RT-PCR) machines. Melbourne RT-PCR machines come with 4, 5 or 6 channels to be able to identify multiple genes in the same well. Todos intends to focus the initial deployment of these RT-PCR machines towards its ongoing mobile high complexity CLIA lab project that it expects to reach the commercialization stage early in the fourth quarter of 2020.

“Securing exclusive branding and distribution rights to a high quality RT-PCR machine such as Melbourne for the US market has been a top priority given that we have seen extensive delays in US delivery of other RT-PCR machines since the beginning of the COVID-19 pandemic,” said Gerald E. Commissiong, President & CEO of Todos. “We will now be able to source between 100 and 200 Todos branded RT-PCR machines from Melbourne Biotech monthly, which will allow us to scale our ongoing mobile high-complexity CLIA lab collaboration to manufacture up to 100 mobile labs per month. This will facilitate the running of high-throughput PCR testing, around which we will be deploying rapid antigen and rapid antibody testing. As decision makers begin to realize the importance of an integrated screening and diagnostic confirmation approach to address the COVID-19 crisis, Todos is well positioned to provide the solutions necessary to allow communities to open safely and stay open. We believe mobiles will further add communities’ abilities to create the ‘bubbles’ needed to keep people safe, whether it’s on a college campus, on a military base, or whether it is for a sporting event.”

“When looking for the appropriate partner in the U.S., we were seeking a company that had a clear vision and approach to address the upcoming requirements of COVID testing for the local population,” said Dr. Shah Awang, Medical Director of Melbourne Biotech. “We believe the Todos strategy of providing mobile laboratory testing and direct sales of equipment and tests to laboratories is in direct alignment of our goals to assist the population to combat this pandemic.”

https://investor.todosmedical.com/news-events/press-releases/detail/84/todos-medical-enters-into-exclusive-branding-and