Todos Medical acquisition of Provista Diagnostics : Israel-based Todos Medical signed an exclusive option agreement to acquire Provista Diagnostics, an in vitro diagnostics company having a CLIA/CAP certified lab in Alpharetta, Georgia.
Financial terms of the possible deal have not been disclosed.
Todos Medical is an in-vitro diagnostics company engaged in developing blood tests for the early detection of cancer and neurodegenerative diseases.
On the other hand, Provista Diagnostics develops and commercializes blood-based proteomic diagnostic, prognostic, and monitoring tests aimed at addressing the unmet needs in women’s cancer, that include breast and gynecologic cancers.
One of its diagnostic products of the US molecular diagnostics company is the Videssa blood test for breast cancer. Based on data from more than a thousand patient samples, the Videssa blood test is said to have been validated clinically for the early and accurate detection of breast cancer.
Commenting on Todos Medical acquisition of Provista Diagnostics, Uriel E. Kusiatin -CEO of Provista Diagnostics said: “Provista’s expertise in conducting rigorous prospective clinical trials; clinical validation and the publication of results in peer reviewed journals; as well as our commercial expertise from piloting commercial efforts with approx. 150 providers, gives us a distinct advantage as we position ourselves as the leaders in the space.”
Todos Medical also announced that it has appointed US-based Gerald Commissiong as its CEO with the company looking to relocate to the US. The relocation will help the Israeli in-vitro diagnostics company to channelize its efforts on the US development and commercialization efforts of its Total Biochemical Infrared Analysis (TBIA) cancer diagnostic platform.
Gerald Commissiong – Todos Medical CEO said: “The TBIA platform developed in Israel has resulted in a CE Mark for breast cancer tests in Europe, where Orot+ (the operational division of Orot-Luces) is currently enrolling patients in a commercial validation study to support the commercial launch of the TM-B1 and TM-B2 blood tests later this year.
“With the pending acquisition of Provista that will give Todos ownership of a CLIA/CAP certified lab and Videssa that has already been validated and commercialized in the United States, we believe that we are positioning Todos to become the premier breast cancer blood testing company, with the potential to expand that leadership position to all cancers.”