Co-Diagnostics, Inc. Launches CE-Marked Multiplex Test at CARPHA 2019

Date : 06/25/2019 @ 11:30AM
Source : Business Wire
Stock : Co-Diagnostics, Inc. (CODX)
Quote : 1.12  -0.03 (-2.61%) @ 5:00AM
Co-Diagnostics, Inc. share price Chart

Co-Diagnostics, Inc. Launches CE-Marked Multiplex Test at CARPHA 2019

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Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, today announced the launch of their Logix Smart™ ZDC multiplex test at the 64th Annual 2019 Caribbean Public Health Agency (CARPHA) Health Research Conference.

The ZDC multiplex test was designed to detect the presence of Zika, dengue, and chikungunya within a single polymerase chain reaction (PCR) test. Its performance confirms the heightened specificity provided by the Company’s CoPrimer™ platform in multiplex PCR applications. Co-Diagnostics received CE mark approval for their ZDC multiplex test after validating its performance, which allows the diagnostic to be sold throughout the European Community, Latin America, the Caribbean Basin, as well as any other jurisdiction that accepts a CE mark as valid regulatory approval.

Co-Diagnostics, Inc. CEO Dwight Egan remarked, “Our CE-marked ZDC multiplex test for Zika, dengue, and chikungunya was designed specifically to meet the demands of markets where these diseases are present, including countries in Europe, Central and South America and the Caribbean region. The development-to-regulatory approval turnaround time of about 6 months underscores our ability to quickly and efficiently design, develop, and validate high-quality molecular diagnostics.

“In the time since the last CARPHA conference, we have CE-marked three infectious disease diagnostics, including the ZDC multiplex test, received US patent protection for our CoPrimer technology, completed several significant proof-of-concept studies showing our technology’s applications in NGS, launched our mosquito vector control program domestically, and signed a technology license agreement with an international leader in the life sciences sector operating in 19 countries worldwide. Attending the conference this year has positioned us to monetize these advancements, and to strengthen our relationships with researchers and health professionals from across North America, Europe, Latin America, and the Caribbean Region.”

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.

Andrew Benson Co-Diagnostics Investor Relations 801-438-1036 investors@codiagnostics.com

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