Co-Diagnostics, Inc. Launches North American Mosquito Diagnostic Product
July 11 2019 - 6:30AM
Co-Diagnostics, Inc. Launches North American Mosquito
Diagnostic Product
Salt Lake City, Utah
– Co-Diagnostics, Inc. (Nasdaq:
CODX), a molecular diagnostics company with a unique,
patented platform for the development of molecular diagnostic
tests, announced today the product launch of their Vector Smart™
NAM test, used to identify the presence of West Nile virus,
St. Louis encephalitis, and western equine encephalitis in
mosquito populations.
Diseases like West Nile virus are carried across
the continent by migratory birds or other vectors, and are then
transmitted to humans or livestock by mosquitoes. Mosquito
abatement districts are publicly funded departments at the city,
county, and state level responsible for controlling mosquito
populations through pesticide and non-pesticide-based treatment
methods. According to a recent report, the professional pest
control industry in the United States reached nearly $9 bn in 2018,
of which mosquito control services are typically the fastest
growing segment.
Co-Diagnostics CEO Dwight Egan remarked, “Our
CoPrimer™-based North American mosquito test is the first multiplex
polymerase chain reaction (PCR) test of its kind, with a target
market of over 1,000 mosquito abatement districts across the
continent. High-quality PCR tests help these centers identify and
focus their efforts on those areas where the infectious diseases
are found, allowing them to be more efficient and effective in
preventing the spread of disease.
“In addition to being the only multiplex test
for these diseases available today, the test’s sensitivity is
unmatched by any similar or single-plex products. Sales of the test
began in Q2 2019, which we expect will continue to increase.”
More information about the Company’s vector
control solutions, pricing for the laboratory equipment packages,
and tests currently available or in development can be found on the
Company’s website at
http://codiagnostics.com/products/vector-solutions/.
About Co-Diagnostics,
Inc.:Co-Diagnostics, Inc., a Utah corporation, is a
molecular diagnostics company that develops, manufactures and
markets a new, 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.
Company
Contact:
Andrew
Benson
Head of Investor
Relations
+1
801-438-1036
investors@codiagnostics.com
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