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Todos Medical Enters into MOU to Expand Existing Early Detection Breast Cancer Blood Test Distribution Partnership with Orot+ into Japan
Todos Medical Enters into MOU to Expand Existing Early Detection Breast Cancer Blood Test Distribution Partnership with Orot+ into Japan.
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[{"type":"text","content":"\n 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 te...