SALT LAKE CITY, Sept. 24, 2020 /PRNewswire/
-- Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular
diagnostics company with a unique, patented platform for the
development of diagnostic tests, announced today that its Logix
Smart™ ABC Test (Influenza A/Influenza B/COVID-19) is anticipated
to be ready for launch to US CLIA laboratory customers the first
week of October 2020.
"Co-Diagnostics is committed to participating in the fight
against COVID-19 through the development and manufacture of vital
diagnostic testing solutions, with none perhaps as important as
this upcoming ABC multiplex test," remarked Dwight Egan, CEO of Co-Diagnostics. "Our
patented CoPrimer™ technology platform is ideally suited for
multiplex reactions by substantially reducing 'primer-dimers,' a
phenomenon in PCR molecular tests that results in false positive
results. At a time when the need for accurate detection of COVID-19
as well as the differentiation between strains of the flu has never
been greater, we are pleased to be able to contribute to the safety
and well-being of communities across the country and around the
world."
The test will initially be made available to CLIA labs who will
be using it in their own laboratory developed tests, or LDTs, while
the Company proceeds with the FDA Emergency Use Authorization
submission and CE marking registration.
About Co-Diagnostics, Inc.:
Co-Diagnostics, Inc., a
Utah corporation, is a molecular
diagnostics company that develops, manufactures and markets a
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.
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SOURCE Co-Diagnostics