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NEW YORK ─ Todos Medical on Monday announced a $3.4 million strategic investment in its business by venture capital firm Yozma Group Korea.

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

Rehovot, Israel-based Todos said it intends to use the proceeds for general working capital, to retire outstanding convertible notes, and to complete the acquisition of proteomics test developer Provista Diagnostics.

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