NEW YORK (360Dx) — Todos Medical said today that it intends to license the exclusive distribution rights to its blood-based breast cancer screening tests in Romania and Austria to Orot+.
The test are based on Todos' Total Biochemical Infrared Analysis technology, which uses Fourier transform infrared spectroscopy and a proprietary technique that analyzes spectrometer test results. The first test — TM-B1 — is designed for early disease detection, while the second — TM-B2 — is designed to help distinguish between benign and malignant tumors.
Rehovot, Israel-based Todos said it has signed a non-binding memorandum of understanding stating that it will license to Orot+ — a subsidiary of Orot Luces — the sole distribution rights to the tests in Romania for five years and in Austria for three years.
Todos said that it intends to sign definitive agreements as soon as possible. Before then, Orot+ will be responsible for the regulatory approvals and applications required to distribute the tests in these markets. In consideration for doing so, Orot+ is expected to receive an equity stake in Todos.
"Since receiving our CE approval to begin sales in Europe, Todos … has been seeking to find the right localized partner to introduce our breast cancer screening tests into local markets," Todos Chief Business Officer Rami Zigdon said in a statement.
Todos CEO Herman Weiss added that Orot+ "is well-established and connected to key opinion leaders, doctors, clinics, hospitals, medical centers, regulatory bodies, and reimbursement agencies."