On September 3, 2018, clinical-stage in vitro diagnostics company Todos Medical (Rehovot, Israel) signed a non-binding memorandum of understanding (MOU) with cancer care innovations investor Orot+ (Tel Aviv, Israel) for proposed sole distribution rights of Todos Medical's blood tests for breast cancer screening in the territories of Romania and Austria for five- and three-year periods, respectively.
Todos Medical's two cancer screening tests are based on Todos Biochemical Infrared Analysis (TBIA), a method for cancer screening using peripheral blood analysis via infrared (IR) spectroscopy. The TBIA screening method is based on the cancer's influence on the immune system, which triggers biochemical changes in peripheral blood mononuclear cells and plasma. The company's two breast cancer screening tests, TM-B1 and TM-B2, are CE-marked in the EU.
The purpose of the MOU is for Orot+ to build and establish the regulatory approvals, markets, and applications for Orot+ to facilitate distribution of Todos Medical's TM-B1 and TM-B2 screening tests. Subject to the parties entering into definitive agreement(s), Orot+ will conduct a pilot study in Romania and Austria, prior to the commencement of any marketing and sales efforts in these territories.