Todos Medical Acquires 3CL Assets, Forms 3CL Pharma Subsidiary
Todos Medical, Ltd. (OTCQB: TOMDF) (“Todos Medical”), a company specializing in medical diagnostic solutions, announced the completion of its acquisition of all the 3CL protease inhibitor assets used in treating viruses and diseases. Along with this acquisition, Todos Medical also announced the formation of 3CL Pharma Ltd. (“3CL Pharma”), a wholly-owned subsidiary that will focus specifically on treatments related to the 3CL assets mentioned previously.
The 3CL assets thus far consist of the following:
-Tollovir®, a protease inhibitor used in COVID-19 treatments. A stronger version of Tollovid is in development, and is undergoing randomized, placebo-controlled clinical trials in Israel.
-TolloTest™, a test used to detect coronavirus and the success of the Tollovir™drug in reducing the presence of COVID-19.
-Tollovid® & Tollovid Daily™, dietary supplements used to boost the immune system.
More information on the 3CL protease inhibitor and the process used to develop these assets can be found here. There are additional assets related to Tollovir including new chemical entity (NCE) therapeutic candidates which are included in this acquisition.
The wholly-owned subsidiary 3CL Pharma was formed in order to continue the work being done on these assets, based on the research of Dr. Dorit Arad, the newly appointed Chief Scientific Officer of Todos Medical.
“We are in full alignment with the Todos team for the development and commercialization of Tollovir and TolloTest, two crucial assets that are sorely needed given the current stage of the global pandemic,” said Dr. Arad. “Our recent Phase 2 data showed the superiority of Tollovir over the standard of care, which included Remdesivir in the treatment of hospitalized patients.” Dr. Arad also said TolloTest results have indicated a higher accuracy in detecting infection early on, as compared to rapid antigen tests which “seemingly fail to address key concerns of false negative results for asymptomatic patients or cessation of infectiousness among known positives.”
“This marks a major milestone for Todos and the next steps in our Company’s long-term growth plans,” said Gerald E. Commissiong, President and CEO of Todos Medical. Importantly, we believe this has the potential to modify current standards of care. Throughout our relationship with NLC, it has been a highly collaborative and productive providing key discoveries that have the potential to alter the course of the COVID-19 pandemic.”
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