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Todos Medical Announces Exclusive License & Distribution Agreement with T-Cell Protect Hellas S.A. for Tollovid® Products Covering 30 Countries in Europe
Todos Medical Announces Exclusive License & Distribution Agreement with T-Cell Protect Hellas S.A. for Tollovid® Products Covering 30 Countries in Europe.
About this update from Todos Medical Ltd.
[{"type":"text","content":"\nTodos Medical, Ltd. (OTCQB: TOMDF), a comprehensive medical diagnostics and related solutions company, together with its joint venture partner NLC Pharma, Ltd., today announced that it has entered into an exclusive European licensing & distribution agreement with T-Cell Protect Hellas S.A. (T-Cell Protect or T-Cell) for a product based on its Tollovid® and Tollovid Daily™ 3CL protease inhibitor and immune support dietary supplements. The product will be marketed under the T-Cell Protect brand throughout 30 countries in Europe with the agreement calling for a minimum of 500,000 bottles in sales over 18 months. T-Cell has placed an initial purchase order for 50,000 bottles of the Tollovid Daily product that is expected to meet the demand of an initial rollout to a subset of the 11,000 stores located throughout Greece. More information about the product can be found at www.tcellprotect.com. Under the terms of the agreement, T-Cell Protect will purchase finished product at wholesale from Todos until such time as T-Cell Protect establishes manufacturing capabilities at a facility it currently operates in Greece to support the European market. At such time, Todos will then receive double-digit royalties on the sales of the licensed product manufactured by T-Cell Protect. The Company anticipates revenue to be generated from this agreement beginning in the current quarter.\n\nConcurrent with this announcement, T-Cell Protect has made an investment of 1 million euros in Todos Medical to support the clinical development of Tollovir, the Company’s 3CL protease inhibiting antiviral drug candidate, and has also received exclusive marketing rights for Tollovir in Greece. T-Cell Protect intends on initiating the process for conditional Emergency Use Authorization of Tollovir to meet the increasing demand for the prevention and treatment of Coronaviruses, including COVID-19.\n\n“We are very excited to introduce and launch this new daily dietary supplement to the European Market based on the Tollovid dietary supplement formulas for people looking for additional targeted immune support,” said Themis Filippopoulos, President & CEO of T-Cell Protect. “It was clear to us that we should focus on natural supplements because it's an area that we are aligned with and where we believe we can make a real differ...