Todos Medical Ltd., an Israeli company that develops testing for the early detection of a variety of different cancers, entered an implementation and equipment financing partnership concerning COVID-19 tests with AID Genomics on Friday, according to BioSpace.
“We have developed a proven, scalable solution that can now be implemented via Todos Medical in the US," said Snir Zano, CEO of AID Genomics, according to BioSpace. "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.”
As part of the agreement, AID Genomics will finance the purchase of equipment needed to allow Todos' clients to meet capacity requirements and will help Todos speed up scaling and optimizing sample accessioning and data reporting software.
AID Genomics will also receive part of the net profit of each contract and will help Todos validate and commercialize proprietary tests in Israel.
“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,” said Gerald Commissiong, President & CEO of Todos Medical, according to BioSpace. “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.”
Todos Medical is headquartered in Rehovot and engineers diagnostic solutions for the early detection of a number of cancers. The company has also entered into distribution agreements with companies for COVID-19 tests and is working with Meridian Health and Moto-Para Foundation to deploy COVID-19 testing in the US.
AID Genomics has worked with Israel's Health Ministry to build six HMO labs in Israel.