Co-Diagnostics and CoSara to Launch IVD Products to India Market

Date : 01/02/2020 @ 11:30AM
Source : GlobeNewswire Inc.
Stock : Co Diagnostics Inc (CODX)
Quote : 8.2  0.0 (0.00%) @ 5:00AM
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Co-Diagnostics and CoSara to Launch IVD Products to India Market

Co Diagnostics (NASDAQ:CODX)
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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 it will be hosting a booth at the upcoming India Diagnostic Expo with its Indian joint venture, CoSara Diagnostics Pvt Ltd (“CoSara,” or the “JV”), on January 4-6 in Hyderabad, India, to formally launch their recently-approved in vitro diagnostics (IVDs).

The India Diagnostic Expo provides India’s only focused diagnostics products and consumables exhibition for the diagnostic services market, which is expected to continue growing at 27.5% for the next 5 years. Attendance at the expo follows the December 2019 announcement that CoSara tests for tuberculosis, malaria, hepatitis B, hepatitis C and human papillomavirus (HPV) received IVD approval by the Central Drug Standard Control Organization (“CDSCO”). The licenses and regulatory clearance granted by the CDSCO allow the 5 tests to be manufactured and sold for the detection of the respective diseases, with the expo marking their first formal launch to the Indian market.

The Company and CoSara invite attendees to visit them at Booth #C-108 daily from 10 AM to 6 PM at the Hitex Exhibition Center, Venue Hall 3.

Dwight Egan, CEO of Co-Diagnostics, commented “We are pleased to officially launch these newly-approved diagnostics tests into India. We believe that our patented technology and proprietary design process gives products designed on the CoPrimer™ platform a competitive edge in such a large and growing market, and the Company looks forward to a successful roll-out of these in-demand diagnostics.”

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 may include statements regarding the (i) use of funding proceeds, (ii) expansion of product distribution, (iii) acceleration of initiatives in certain verticals or markets, (iv) capital resources and runway needed to advance the Company’s products and markets, (v) increased sales in the near-term, (vi) flexibility in managing the Company’s balance sheet, (vii) anticipation of business expansion, and (vii) 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                                                                                a.benson@codiagnostics.com

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