Todos Medical Signs Binding Term Sheet with HWH World for Network Marketing of Blood Tests for the Early Detection of Breast Cancer
REHOVOT, Israel and SINGAPORE, Sept. 13, 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 it has entered into a binding term sheet with HWH World Pte Ltd. (“HWH World”), a wholly-owned subsidiary of Singapore eDevelopment (SGX:40V) for the grant of exclusive marketing rights for Todos Medical’s TM-B1 and TM-B2 tests to HWH World’s network of members in Singapore, Malaysia, the Philippines, Vietnam, Thailand, Indonesia, South Korea, Hong Kong, China, the United States and Canada. HWH World is a marketing firm that focuses on health and wellness. HWH World will work closely with Todos Medical to achieve regulatory approval in Singapore, where Todos Medical recently completed clinical studies, and thereafter expand into other markets. Todos remains free to partner with other companies to market and distribute its diagnostic tests through traditional means, including direct to consumer, through physicians, hospitals and/or government health systems.
“Todos Medical’s innovative artificial intelligence-based blood testing technology has shown strong results for breast cancer screening and diagnosis in Singapore,” said Heng Fai Chan, Chairman of HWH World. “This represents a tremendous opportunity for HWH World members to take control of their healthcare by getting better information about potential cancer to ensure they are seeking treatment early in the disease progression. This will improve the well-being of our female members and help differentiate us from other wellness programs in the market. Many Asian women are forced to have unnecessary breast biopsies because mammograms are not very effective in this population. Todos has identified a solution to this problem, and HWH World is looking forward to bringing the TM-B1 and TM-B2 tests to our members both in Asia and as we expand into North America.”
“Having just completed a substantial clinical study in Singapore that demonstrated the superiority of our assay versus mammography in prospectively classifying cancer and non-cancer subjects, especially among those with inconclusive mammogram results (BI-RADS III/IV), we are pleased to secure our first Asian partner in HWH World. Our two companies are aligned in viewing the significant value by utilizing a blood test that will determine whether a biopsy is necessary in breast cancer,” said Herman Weiss, M.D., President and CEO of Todos Medical.
About Todos Medical Ltd.
Todos Medical Ltd. is a cancer 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 Medical 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.
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.
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