As healthcare systems come under severe pressure from the pandemic, significant changes to their infrastructure are required. In particular, technological changes to transform service delivery and scale up the utilization of digital systems are key factors that currently lacking. In addition, effective and mass testing is necessary to come up with a proper plan to reduce case numbers. Now, various companies from a vast field of industries, including biotechs, medical device manufacturers, tech conglomerates and others have all made various announcements of products or services related to the pandemic, with testing kits playing a key role. Developments have been made in the testing segment, as diagnostic testing has improved over the course of the last several months. By test type, the rapid antigen test is likely to hold a substantial market share in 2020. Antigen assays are also usually more cost-effective when compared to either molecular or culture techniques. And, overall, the global rapid test kit market for the viral pandemic is expected to reach USD 3.91 Billion by 2027, according to a new report by Reports and Data. Todos Medical Ltd., Vir Biotechnology, Inc., Moderna, Inc. , Inovio Pharmaceuticals, Inc., Gilead Sciences, Inc.
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New York is a good example of how excessive testing can influence policy. In recent days, Governor Cuomo talked about the need for strong testing protocols for schools, when students first return or if an outbreak were to happen in a classroom. “We have more testing than any other state. The data has to say it’s safe to reopen, and then you need plan for every school district, every school, to have the testing in place, to have the protocols in place,” the Governor explained. “There’s no secret to how a virus spreads – this is mathematics, this is science and this is a function of our behavior, which we see reflected in the daily numbers. New Yorkers worked hard to change our behavior and bring the numbers down to the levels we have been holding at through our phased reopening.”
Todos Medical Ltd. announced breaking news last week regarding, “sales of more than $550,000 for the month of July. Sales were driven by 3D Med ANDis auto-extraction machine and 3D Med RNA extraction reagent purchases by US CLIA laboratories ramping up RT-PCR testing capacity. During July, Todos billed laboratory partners in Florida, Illinois, North Carolina, Pennsylvania, Texas and Wisconsin, addressing areas where cases of COVID-19 have recently surged.
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‘I’m pleased to report the recognition of COVID-19 test revenue and the momentum established by entering into key strategic partnerships with medtech industry leaders in the United States,’ said Gerald E. Commissiong, President & CEO of Todos. “Our go-to-market strategy involves increasing our install base of 3D Med extraction systems that leads to ongoing reagent purchases with labs that are steadily increasing their testing capacity. From there, as our customers see the value in the quality and the speed of turnaround times for delivery; we believe they will seek to purchase additional products, including swab/viral transport media and our highly accurate qPCR test kits.’
Mr. Commissiong continued ‘The next phase of growth that we are seeing increasing demand for in August is our more comprehensive end-to-end packages, including RNA auto-extraction and RT-PCR machine and all the consumables required to run RT-PCR testing. There is a clear focus on adding testing capacity in the US heading into the fall season. CLIA Labs are looking for alternatives to existing established players in the market who are struggling to provide reliable delivery of machines and consumables for PCR testing, putting labs in a position where they cannot timely deliver for their clients. Being able to deliver quickly and consistently is how we are beginning to take US market share at a time when there is an increasing national focus in the US on increasing COVID testing capacity and reducing turnaround times. We intend to vigorously expand our customer base, as well as add complementary best-in-breed COVID testing products, such as antibody and antigen testing products, so that labs may provide more comprehensive solutions for their customers. We believe there is meaningful opportunity for Todos to add significant testing capacity to the U.S. healthcare system for COVID-19 as well as for other diseases, and we intend to vigorously pursue multiple products and disease categories.’
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