Co-Diagnostics Announces New Vector Control Orders and Continued Progress Toward Regulatory Clearance for Coronavirus Test
19 Febrero 2020 - 5:30AM
Business Wire
Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular
diagnostics company with a unique, patented platform for the
development of diagnostic tests, announced today that it has
received new orders for its vector control tests and equipment from
mosquito abatement districts following attendance at several vector
control conferences. Recent conference appearances included a
presentation at the 3rd International Conference on Zika Virus and
Aedes Related Infections on February 13-16, 2020, in Washington,
D.C., where Co-Diagnostics was well-received by the global
audience.
The conference provided a forum for the Company to showcase its
technology platform and full suite of mosquito abatement tests to
those in attendance, and to report on its rapid response to the
outbreak of COVID-19 during the conference’s coronavirus
symposia.
Co-Diagnostics has recently added new mosquito abatement
customers in the Eastern United States as well as the Midwest.
Significantly, the Company offers tests tailored to all regions of
the country, including multiplexed tests that include either
eastern equine encephalitis or western equine encephalitis,
depending on the abatement district location. As a result of the
conference presentation and exhibition, the Company received broad
domestic and international interest in its products.
Company CEO Dwight Egan said, “Our Company strategy focuses on
leveraging our patented CoPrimer™ platform for applications in
plant, animal, and human genomes. We are now generating sales in
all of these verticals, which include revenue from well-respected
customers and partners like LGC, Dare Labs, Biotech Bolivia, Guyana
Defense Force, numerous mosquito abatement districts and a
significant joint venture in India with 5 tests cleared with the
CDSCO for use as in vitro diagnostics (IVDs).”
Mr. Egan continued, “We continue to receive overwhelming
interest in the progress of our coronavirus product offering. In
addition to fulfilling a substantial initial order of the Research
Use Only version of this test for an international customer, we
also are quickly moving towards obtaining clearance from the
relevant regulatory bodies that we believe will soon allow us to
market and sell the test as a fully-approved IVD. But that is just
the tip of the iceberg of our overall global strategy, as we have
considerable attractiveness in other international markets as a
result of our value proposition being geared around price and
performance.
“Co-Diagnostics’ product offerings target the diseases that are
rampant in several under-served regions and other large markets,
which necessarily includes detection of microorganisms in
mosquitoes, the deadliest creature on the planet, and we are
pleased to announce that the Company continues to make progress on
multiple fronts.”
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 (viii) 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/20200219005333/en/
Company Contact: Andrew Benson Head of Investor Relations
+1 801-438-1036 investors@codiagnostics.com
Media Contact: Jennifer Webb Coltrin & Associates,
Inc +1.267.912.1173 jennifer_webb@coltrin.com
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