Co-Diagnostics, Inc. Continues to Execute on International Expansion
October 29 2019 - 6:30AM
Salt Lake City, Utah – October 29, 2019 –
Co-Diagnostics, Inc.
(Nasdaq: CODX) (the
“Company”), a molecular diagnostics company with a unique, patented
platform for the development of molecular diagnostic tests,
announced today that in a recent visit to Ghana the Company
collaborated with Dare Labs to set up the largest private molecular
diagnostics laboratory in Kumasi, the second largest city in Ghana,
marking the Company’s expansion into the African continent.
Kumasi (pop: ~1.7 million) is the capital of the
Ashanti Region, the most populated region in Ghana with an
estimated 5.8 million people. The sale included laboratory
equipment and installation, and training Dare Labs employees in the
complete molecular diagnostics process, to help serve the city of
Kumasi and the surrounding area. Dare Labs’ purchase consisted of
Co-Diagnostics test kits for malaria, which was responsible for 19%
of recorded deaths in Ghana in 2015. In addition to malaria, a
disease for which the country of Ghana ranks as second in the world
for reported cases with 8.8 million, Co-Diagnostics expects to
provide reagents for other common infectious diseases in the region
which includes HIV, tuberculosis, human papillomavirus, syphilis,
and more.
“Through partnership with Dare Labs,
Co-Diagnostics is providing better access to molecular diagnostics
at affordable prices to millions of people,” said Dwight Egan,
Company CEO. “We are pleased to be on the forefront of helping a
nation so highly burdened with malaria to combat the disease
through early, accurate detection, and look forward to delivering
additional tests to meet the growing demand for our high-quality
diagnostics.”
David Amoako, owner and CEO of Dare Labs,
remarked, “In Ghana, as in other sub-Saharan African countries, the
number one medical reason for employees’ absence from work,
students’ absence from school and patients’ frequent visits to the
hospital is malaria. Dare Labs in collaboration with Co-Diagnostics
Inc. brings to Ghana advanced molecular diagnostics technology in
the fight against malaria and other infectious diseases. With
state-of-the-art PCR technology and novel test kits from
Co-Diagnostics, Dare Labs is well positioned to become a market
leader in malaria and the infectious disease diagnostics
space.”
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.
Company
Contact:
Andrew
Benson
Head of Investor
Relations
+1
801-438-1036
investors@codiagnostics.com
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