AID Genomics will also support Todos in validating and commercialising its proprietary tests in Israel
(Credit: PublicDomainPictures from Pixabay.)
Israel-based in vitro diagnostics company Todos Medical has entered into an implementation and equipment financing partnership with medical technology firm AID Genomics for Covid-19 testing.
Under the terms of the agreement, AID Genomics is expected to provide financial support for Todos’ clients in buying the necessary equipment, to help them achieve their capacity requirements.
Also, the company would help Todos implement the best practices to speed up, scale and optimise sample accessioning and data reporting software, along with validating and commercialising its diagnostic tests in Israel, in exchange for net profit in each contract.
AID Genomics is a provider of R&D solutions in the area of genomics, focused on precision medicines for cancers and infectious diseases.
The company has entered into partnership with Tecan to deliver liquid handler machines, and has recently closed a contract with the Israel Ministry of Health to build and scale-up six HMO laboratories in the country.
As part of the partnership, AID Genomics has sent its Israel-based team to help Todos in implementation of its US projects.
AID Genomics CEO Snir Zano said: “We are excited to enter the US market in partnership with Todos Medical. We have developed a proven, scalable solution that can now be implemented via Todos Medical in the US.
“Now that Todos has reached the level of scale with its clients that justifies a formal relationship, we believe that we can leverage this partnership through Todos’ sales channels and drive significant uptake of our integration solutions and dramatically increase PCR testing capacity for the US.”
Todos Medical is focused on providing Covid-19 screening and diagnosis solutions
Todos Medical is a provider of diagnostic solutions, focused on Covid-19 screening and diagnosis solutions, and developing blood tests for the early detection of cancer and Alzheimer’s disease.
The company’s has a patented cancer-screening technology, dubbed Todos Biochemical Infrared Analyses (TBIA), which leverages peripheral blood analysis, to detect biochemical changes in blood mononuclear cells and plasma, and examine the effect of cancer on the immune system.
Also, the company has internally-developed two cancer-screening tests, dubbed TMB-1 and TMB-2, which have received CE mark approval in Europe.
Furthermore, Todos has partnered with other companies to distribute certain Covid-19 tests, including international PCR testing kits and related supplies, along with antibody testing kits, after validating them in its partner laboratory in the US.
Todos Medical president and CEO Gerald Commissiong said: “We are very pleased to formally enter into this partnership with AID Genomics that gives us access to proven implementation know-how and stable access to key automation technology that will allow our clients to reach their desired testing capacity.
“We now intend to aggressively pursue new laboratory equipment and reagent supply agreements with access to non-dilutive funding that the AID Genomics relationship brings us so that we can meet the significant testing needs emerging in the US.”