Todos Medical wins $23.76M contract to supply Wisconsin lab with coronavirus PCR testing equipment and supplies

Todos Medical Ltd (OTCQB:TOMDF), a diagnostics company, announced Monday that it has entered into a sales agreement with a Wisconsin-based laboratory to supply it with the necessary coronavirus (COVID-19) polymerase chain reaction (PCR) testing equipment and supplies. Under the $23.76 million, initial eight-month contract, Todos said it will supply automated extraction machines, liquid handlers and PCR machines. The company also has been granted a priority right to supply the lab with up to 100,000 COVID PCR tests per day in the event the laboratory sees significant additional testing demand. Todos said its customer has inked an agreement with the state of Wisconsin to supply COVID-19 PCR tests. READ: Todos Medical to supply New York lab with COVID-19 PCR testing equipment and supplies “We assisted this client get into testing in July with initial ANDis 350 automated extraction machines and reagents, and steadily worked with them to increase their capacity, as well as meet certain quality criteria required of state contractors,” Todos Medical CEO Gerald Commissiong said in a statement. “We are extremely gratified that this work has paid off and we’ve been a key part of enabling this client to gain a transformative agreement that will allow them to grow dramatically heading into the fall of 2020, when we expect demand for PCR testing to increase as a result of more widespread availability of antigen screening tests that will require PCR confirmation.” The Todos Medical boss said he expects the trend "will continue in the weeks and months ahead as states look to secure confirmatory testing capacity.” Headquartered in Rehovot, Israel, Todos also develops diagnostic solutions to screen for a variety of cancers and neurodegenerative disorders. Contact the author Uttara Choudhury at uttara@proactiveinvestors.com Follow her on Twitter: @UttaraProactive