Co-Diagnostics, Inc. to Sign Purchase Agreement with MEDCIS Pathlabs
September 05 2017 - 9:31AM
Business Wire
Co-Diagnostics, Inc. (NASDAQ: CODX) (“Co-Diagnostics” or
the “Company”), a molecular diagnostics company with a unique,
proprietary platform for the development of diagnostic tests, and
MEDCIS Pathlabs India Pvt. Ltd., have agreed to the terms of a
purchase agreement for Co-Diagnostics products to be used
throughout India.
MEDCIS Pathlabs and its associates and attendees, together
comprising a Clinical Investigation Services provider of healthcare
services with a strategy of delivering integrated testing solutions
to their customers, has agreed to an initial purchase of up to
36,000 of the Company’s tests, specifically those for Hepatitis B,
Hepatitis C, HIV, and human papillomavirus. The tests will be
manufactured and branded by CoSara Diagnostics, the Company’s
manufacturing joint venture, who will also pursue all relevant
regulatory approvals, and are expected to be used in MEDCIS’ own
network of ISO-certified and NABL and CAP accredited franchises and
branches across India. The agreement also extends to future
Co-Diagnostics-developed products, including a blood bank panel to
help address a market in India that exceeds $1 billion
annually.
Co-Diagnostics CEO Dwight Egan commented, “This agreement has
the potential to represent our most significant revenue to date
through the profit sharing agreement with our Joint Venture in
India, once the tests in question have completed all requisite
validation procedures. It is fitting that it would be with MEDCIS
Pathlabs, whose commitment to helping improve the quality of
patient care, all at affordable costs, parallels our own
ambitions.”
About Co-Diagnostics, Inc.:
Co-Diagnostics, Inc., a Utah corporation, is a molecular
diagnostics company that has developed and intends to manufacture
and sell reagents used for diagnostic tests that function via the
detection and/or analysis of nucleic acid molecules (DNA or RNA),
and to sell diagnostic equipment from other manufacturers as
self-contained lab systems.
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. 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.
Disclaimer:
This news release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
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version on businesswire.com: http://www.businesswire.com/news/home/20170905005867/en/
Co-Diagnostics, Inc.Investor RelationsAndrew Benson,
801-438-1036investors@codiagnostics.com
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