Co-Diagnostics, Inc. Announces Construction Update at JV Manufacturing Facility in India
March 22 2018 - 6:30AM
Business Wire
Project moving forward on schedule, with
production to begin in Q3 2018
Co-Diagnostics, Inc. (NASDAQ: CODX), a diagnostics company
with a unique, proprietary platform for the development of
molecular diagnostics, announced today an update on the Joint
Venture (“JV”) manufacturing facility in Vadodara, India.
CoSara Diagnostics, Pvt., Ltd. (“CoSara”), the JV for
manufacturing with Synbiotics Limited, a group company of Asence
Inc, a U.S. incorporated company specializing in supplying
pharmaceutical products to international markets, broke ground on
the future Good Manufacturing Practices (“GMP”) facility in October
2017. All building activities have continued on schedule, with
principle construction now almost complete and negotiations
underway or work orders placed with various agencies for electrical
work, clean room design, heating, ventilation &
air-conditioning system and other required infrastructure.
The documentation for the JV’s future Quality Management System,
required to seek ISO certification and regulatory approvals, is
currently being established, and CoSara management has recently
completed meetings with regulatory consultants to finalize the
procedure for obtaining the manufacturing license from the Indian
government once the plant is ready for inspection.
Co-Diagnostics CEO Dwight Egan commented: “This is an important
milestone for the joint venture as we continue to make measurable
progress on the execution of our strategic plan. The project is
moving forward on schedule and we look forward to initiating
manufacturing operations in this state-of-the-art facility for all
Co-Diagnostics products that will be sold in India. India remains a
central focus for our Company’s infectious disease initiative, with
a market that continues to grow both in size and in demand for
high-quality, cost-conscious diagnostics, and this facility will be
a key component in addressing the extreme needs of this diagnostics
market.”
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180322005471/en/
Company Contact:Co-Diagnostics, Inc.Andrew
BensonCo-Diagnostics Investor
Relations801-438-1036investors@codiagnostics.comorInvestor
Contact:Lytham Partners, LLCJoe Diaz, Robert Blum and Joe
Dorame602-889-9700codx@lythampartners.com
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