NEW YORK — Israeli diagnostics firm Todos Medical said today that it has signed a binding term sheet for the distribution of its TM-B1 and TM-B2 early breast cancer detection blood tests in certain Asian and North American markets.
Under the terms of the term sheet, South Korean healthcare marketing firm HWH World will offer the tests to its member network in Singapore, Malaysia, the Philippines, Vietnam, Thailand, Indonesia, South Korea, Hong Kong, China, the US, and Canada. According to Todos, HWH will begin marketing efforts in Singapore following the receipt of regulatory approval in that nation, after which it intends to expand into other markets.
Todos added that it has the right to partner with other companies to market and distribute the tests through traditional channels including directly to consumers, as well as through physicians, hospitals, and government health systems.
Additional terms were not disclosed.
"Having just completed a substantial clinical study in Singapore that demonstrated the superiority of our assay versus mammography in prospectively classifying cancer and non-cancer subjects, especially among those with inconclusive mammogram results ... we are pleased to secure our first Asian partner in HWH World," Todos President and CEO Herman Weiss said in a statement.
TM-B1 and TM-B2 are based on the company's so-called total biochemical infrared analysis technology, which monitors a patient's immune system for cancer responses rather than looking for tumor cells or specific biomarkers.
Earlier this month, Todos expanded a distribution partnership for the tests with Orot[+] covering Romania and Austria to include Japan.