Co-Diagnostics, Inc. Manufacturing Joint Venture Breaks Ground in India
November 07 2017 - 7:30AM
Business Wire
Co-Diagnostics, Inc. (NASDAQ: CODX) (“Co-Diagnostics”), a
molecular diagnostics company that has a unique, proprietary
platform for the development of diagnostic tests, and Synbiotics
Limited (“Synbiotics”), a group company of Asence Inc, a U.S.
incorporated company specializing in supplying pharmaceutical
products to international markets, announced today that CoSara
Diagnostics, Pvt., Ltd. (“CoSara”), a Joint Venture for
manufacturing, has broken ground for its manufacturing facility in
India.
Co-Diagnostics and Synbiotics incorporated the CoSara entity in
India in July 2017. Since that time, CoSara has secured permits and
approved building plans necessary to begin construction of a
facility that will manufacture Co-Diagnostics products according to
internationally recognized Good Manufacturing Practice (GMP)
standards. GMP-produced diagnostics are required by many
laboratories and hospitals to ensure that the products are
manufactured in facilities with proper design and control processes
in place. The facility is expected to be completed in April 2018,
at which time CoSara will have the exclusive Indian manufacturing
rights for Co-Diagnostics products.
Dwight Egan, Co-Diagnostics CEO, remarked, “Manufacturing our
products according to GMP standards underscores our commitment to
quality in all stages of Co-Diagnostics products’ design and
production cycles. It also allows CoSara access to the institutions
that insist on the high-level standards that accompany GMP-produced
products, both in India and worldwide as the manufacturing facility
grows to accommodate global demand for innovative and
cost-conscious products built on Co-Diagnostics’ technology
platform.”
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/20171107005757/en/
Co-Diagnostics, IncAndrew Benson, Investor
Relations801-438-1036investors@codiagnostics.com
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