Co-Diagnostics, Inc. Announces Sale of Molecular Diagnostic Tests, Including Zika Virus, to Major Caribbean Laboratory
December 12 2017 - 6:30AM
Business Wire
Co-Diagnostics, Inc. (NASDAQ: CODX), a molecular
diagnostics company with a unique, proprietary platform for the
development of molecular diagnostics, announced today that a major
laboratory in the Caribbean Basin has completed its first purchase
of the Company’s tests.
The purchasing laboratory is one of the most recognized in the
country, with testing services provided to over 100,000 clients per
year, ranging from general laboratory testing and routine screening
to infectious disease (including the Zika virus), toxicology,
pharmacology, and genetic testing. The tests included with this
initial purchase are designated as Research Use Only and are
expected to be used to confirm reproducibility and performance
properties of the Company’s technology, with larger orders,
including several tests currently in the Company’s production
pipeline, anticipated to follow in Q1 2018. All tests will be run
on the Mic-4 qPCR cycler manufactured by Bio Molecular Systems,
with whom the Company has an OEM agreement related to branding and
distribution of the instrument. The Mic software is also optimized
specifically to enhance ease-of-use of the Company’s diagnostic
assays.
Co-Diagnostics CEO Dwight Egan commented: “We are pleased to
officially announce our initial sale of products to such a
significant laboratory. The laboratory’s importance to the local
population and footprint throughout the country, along with their
high standards of quality of care, make them a perfect fit to help
us realize our own vision of bringing our state-of-the-art
technology coupled with advanced diagnostic equipment to people
that can benefit most from high-quality diagnostics. We are
gratified to see a return on the time and effort leading to this
sale, which we are confident represents the first of many with this
new customer.”
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/20171212005581/en/
Company Contact:Co-Diagnostics, Inc.Andrew Benson,
801-438-1036Co-Diagnostics Investor
Relationsinvestors@codiagnostics.comorInvestor
Contact:Lytham Partners, LLCJoe Diaz, Robert Blum and Joe
Dorame602-889-9700codx@lythampartners.com
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