SALT
LAKE CITY, July 26, 2022 /PRNewswire/ --
Co-Diagnostics, Inc. (Nasdaq: CODX) ("Co-Dx" or the "Company"), a
molecular diagnostics company with a unique, patented platform for
the development of molecular diagnostic tests, announced today that
it will be disclosing the global expansion of its OEM agreement
with Bio Molecular Systems (BMS) at the Company's customer and
distributor update today at AACC.
Located in the Gold Coast area
of Queensland, Australia, BMS
includes the founders and senior personnel from the company
responsible for inventing and developing the original
Rotor-Gene Real-Time PCR instrument, with a reputation for
expertise in developing innovative, versatile, robust, and
easy-to-use products.
BMS currently manufactures the magnetic induction PCR instrument
that is sold by the Company as the Co-Dx Box™, which includes
software that optimized specifically to enhance ease-of-use of the
Company's molecular assays. The expanded branding and distribution
OEM agreement increases Co-Dx's approved sales territories to 193
countries worldwide.
Company CEO Dwight Egan commented
"We are excited for the opportunities that we believe this expanded
agreement will provide the Company to increase the reach of our
state-of-the-art products. Co-Dx tests have already been sold to
laboratories and distributors in over 50 countries, and with this
expanded agreement we expect that even more areas will be able to
benefit from Co-Dx's high-quality, affordable molecular testing
tools."
About Co-Diagnostics,
Inc.:
Co-Diagnostics, Inc., a Utah
corporation, is a molecular diagnostics company that develops,
manufactures and markets state-of-the-art diagnostics technologies.
The Company's technologies are 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 within
the meaning of the Private Securities Litigation Reform Act of 1995
(PSLRA) that are subject to a number of risks and uncertainties.
Risks and uncertainties that may cause such differences include,
among other things: our products may not prove to be as effective
as other products currently being commercialized or to be
commercialized in the future by competitors; risks inherent in
manufacturing and scaling up to commercial quantities while
maintaining quality controls; the uncertainties inherent in new
product development, including the cost and time required to gain
regulatory clearance for such product and to commercialize such
product(s);and, market acceptance of our products once
commercialized. Readers are cautioned not to place undue
reliance on the forward-looking statements, which speak only as of
the date on which they are made and reflect management's current
estimates, projections, expectations, and beliefs. There can be no
assurance that any of the anticipated results will occur on a
timely basis or at all due to certain risks and uncertainties, a
discussion of which can be found in the Risk Factors disclosure in
our Annual Report on Form 10-K, filed with the Securities and
Exchange Commission (SEC) on March 22,
2022, and in our other filings with the SEC. 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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SOURCE Co-Diagnostics