Todos Medical Ltd (OTCMKTS:TOMDF) on August 2nd 2021 confirmed making the final payment of $1.25 million to finishing $10 million acquisition of US-based Provista Diagnostics. Provista Diagnostics owns the IPR for breast cancer blood test Videssa and also owns a diagnostic lab doing covid-19 PCR testing.
The firm confirmed on expansion of Alpharetta, Georgia-based Provista’s marketing team for capitalising on automated capabilities in variant identification, testing and neutralizing antibody testing.
Todos opines that its emergency use authorization approved cPass neutralizing antibody test will be vital as new variants will be testing vaccine efficacy.
It is estimated that more than $50 million in R&D has been spent since 2012 for developing the test. Todos confirmed that it is continuing with commercialization plans for Videssa, providing physicians with information regarding breast cancer risk in women. The test has shown specificity of 98%+ in women.
Todos Medical CEO Gerald E Commissiong said that the firm has finished acquisition and wants to centralize itsproprietary diagnostic platforms in flow cytometry, spectroscopy, ELISA as well as next-gen sequencing.
Commissiong believes that Provista will be a significant revenue contributor in the next few years providing long-term value for stockholders.
The company CEO also confirmed Proactive making final payment of $1.25 million to finish $10 million acquisition of the medical diagnostics firm.
 Stock Continues to Fall: Will it Recover?){kind=link}