Sunday, 17 October 2021

Yozma Group Korea invests $3.4M in Israeli firm Todos Medical

29 January 2021 | News

Todos intends to use the proceeds from the investment to complete the acquisition of Provista Diagnostics

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Todos Medical, an in vitro diagnostics company headquartered in Israel  and focused on distributing comprehensive solutions for COVID-19 screening and diagnosis and developing blood tests for early detection of cancer and Alzheimer’s disease, has announced a $3.4 million strategic investment from tech-focused venture capital firm Yozma Group Korea (Yozma).

“Yozma Group Korea is pleased to make this Investment into Todos Medical,” said Investment team of Yozma Group Korea. “The rapid growth Todos has been able to generate by bringing together and deploying comprehensive solutions for COVID-19 testing speaks volumes about the management team’s ability to execute a commercial strategy in a difficult environment. We see a significant opportunity to fuel Todos’ growth with this capital infusion as complementary products are added to their expanding sales pipeline. Moreover, we see tremendous opportunity to help drive cross-border collaboration for Todos in South Korea.”

Under the terms of the agreement, Yozma has been issued a one-year $3.4M convertible promissory note that is convertible into common shares at a fixed price of $0.0599 per share.

Todos intends to use the proceeds from the investment primarily to retire outstanding convertible notes, complete the acquisition of Provista Diagnostics for its Videssa breast cancer test and its COVID-19 PCR testing capabilities, and general working capital.

Todos Medical engineers life-saving diagnostic solutions for the early detection of a variety of cancers. The company's state-of-the-art and patented Todos Biochemical Infrared Analyses (TBIA) is a proprietary cancer-screening technology using peripheral blood analysis that deploys deep examination into cancer's influence on the immune system, looking for biochemical changes in blood mononuclear cells and plasma.

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