Co-Diagnostics, Inc Expands Licensing Opportunities Internationally with Receipt of UK Patent for RapidProbe™ Technology
December 14 2018 - 6:30AM
Business Wire
Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular
diagnostics company with a unique, patented platform for the
development of molecular diagnostic tests, announced today that it
has been awarded a patent from the United Kingdom Intellectual
Property Office related to the Company’s RapidProbe™ probe design
technology.
Mr. Dwight Egan, CEO of Co-Diagnostics, said, “Receiving patent
protection in the United Kingdom allows additional international
licensing opportunities of our intellectual property portfolio.
Along with the US patent for CoPrimers™ received earlier this year,
we believe that this patent validates the uniqueness and diversity
of our technology platform and creates more revenue prospects for
Co-Diagnostics.”
Dr. Rebecca Garcia, Co-Diagnostics VP of Product Development,
commented, “RapidProbe is a mathematically-engineered probe
design for real-time polymerase chain reaction (“PCR”) tests
invented by Company founder Dr. Brent Satterfield. Diagnostic tests
with lower development and synthesis costs that are capable of
running on a wider array of PCR equipment have always been an
important product development goal of Co-Diagnostics. This
newly-patented technology uses a hairpin structure with a melting
temperature of 7-10°C above the reaction temperature, and
additional bases that are complementary to the middle of the probe
resulting in a more rapid rate of detection and increased probe
accuracy while reducing design complexity and expense.”
UK Patent no. GB2480792, “ENERGY TRANSFER HAIRPIN
OLIGONUCLEOTIDE PROBES,” was announced in the Patents Journal on 14
November 2018. The patent is related to assays for nucleic acid
detection in a specific way to increase reaction kinetics, while
maintaining a simple, proprietary continuous sequence probe design,
called a RapidProbe, and low-cost synthesis. Detection of a target
occurs in conjunction with nuclease cleavage of the probe.
Co-Diagnostics owns all the technology on which RapidProbes are
built. A patent application for the technology is also pending with
the US Patent and Trademark Office.
About Co-Diagnostics, Inc.:Co-Diagnostics, Inc., a Utah
corporation, is a molecular diagnostics company that develops,
manufactures and markets a new, state-of-the-art diagnostics
technology. The Company’s technology is utilized for tests that are
designed using the detection and/or analysis of nucleic acid
molecules (DNA or RNA). The Company also uses its proprietary
technology to design specific tests to locate genetic markers for
use in industries other than infectious disease and license the use
of those tests to specific customers.
Forward-Looking Statements:This press release contains
forward-looking statements. Forward-looking statements can be
identified by words such as "believes," "expects," "estimates,"
"intends," "may," "plans," "will" and similar expressions, or the
negative of these words. Such forward-looking statements are based
on facts and conditions as they exist at the time such statements
are made and predictions as to future facts and conditions.
Forward-looking statements in this release include statements
regarding the (i) use of funding proceeds, (ii) expansion of
product distribution, (iii) acceleration of initiatives in liquid
biopsy and SNP detection, (iv) use of the Company’s liquid biopsy
tests by laboratories, (v) capital resources and runway needed to
advance the Company’s products and markets, (vi) increased sales in
the near-term, (vii) flexibility in managing the Company’s balance
sheet, (viii) anticipation of business expansion, and (ix) benefits
in research and worldwide accessibility of the CoPrimer technology
and its cost-saving and scientific advantages. Forward-looking
statements are subject to inherent uncertainties, risks and changes
in circumstances. Actual results may differ materially from
those contemplated or anticipated by such forward-looking
statements. Readers of this press release are cautioned not to
place undue reliance on any forward-looking statements. The Company
does not undertake any obligation to update any forward-looking
statement relating to matters discussed in this press release,
except as may be required by applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20181214005092/en/
Company Contact:Andrew BensonCo-Diagnostics Investor
Relations801-438-1036investors@codiagnostics.comInvestor
Contact:Joe Diaz, Robert Blum and Joe DorameLytham Partners,
LLC602-889-9700
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