Todos Medical Ltd. (OTCMKTS:TOMDF) Stock Gains Momentum: Here is Why
The medical diagnostics and associated solutions space has been one of the more actively followed sectors over the past few years. The onset of the COVID-19 pandemic led to heightened importance for such services, and consequently, the firms enjoyed a lot of focus. One of the companies in this space is Todos Medical Ltd. (OTCMKTS:TOMDF), which came into the news cycle in a big way on Wednesday when it made a major new announcement.
The company announced that a Notice of Allowance had been issued by the United States Patent and Trademark Office for the patent titled “Compounds for Treating a Coronavirus Infection” from NLC Pharma. The patent had been derived from the path-breaking work that had been accomplished by Dr. Dorit Arad. The Notice of Allowance that was awarded to the company would cover the compounds that are present in the ingredients of Tollovir and Tollovid. It was a significant new development for the company and one that may bring it into focus among investors today.
However, in this context, it is important for investors to keep in mind that the United States Patent and Trademark Office can only ascertain the patentability of a product. Approval for the product being used as a treatment for any disease could only be granted by the United States Food and Drug Administration. The two products, Tollovir and Tollovid, are both manufactured with distinctly different raw materials, and the key ingredients are different as well.
As a result, the final products are different due to the difference in the key raw materials, although certain patent-pending compounds would be common between the two. The visionary researcher Dr. Dorit Arad, who is involved with NLC Pharma, spoke about the development as well. He noted that he was pleased with the fact that the patent allowance showed that the compounds were patentable. He went on to call these compounds the key compounds for the two products, Tollovir and Tollovid. The President and Chief Executive Officer of Todos Medical Gerald Commissioning noted that the granting of the Notice of Allowance was a significant new milestone for the Tollovid and Tollovir programs.
On March 28, Todos Medical announced that it had signed a letter of intent with the Singapore-based company Acumen Diagnostics Pte Ltd. The letter of intent was pertaining to the licensing of lab-developed test rights for commercializing AceSept, the sepsis PCR-based diagnostic test, in the United States market. The test had been developed by Acumen’s CLIA/CAP-certified clinical testing laboratory, known as Provista Diagnostics.
As per information from the Sepsis Alliance, sepsis is the number one cause of death in United States hospitals, and the annual economic cost to the healthcare system in the United States stands at $62 billion a year. In fact, the Sepsis Alliance also revealed that sepsis had also been proven to be the biggest reason for hospitalization in the United States. COVID-19 patients who are admitted to hospitals are 300% more likely to develop sepsis.
