Co-Diagnostics and CoSara to Launch IVD Products to India Market
January 02 2020 - 6:30AM
Co-Diagnostics, Inc.
(Nasdaq: CODX) (the
“Company”), a molecular diagnostics company with a unique, patented
platform for the development of molecular diagnostic tests,
announced today that it will be hosting a booth at the upcoming
India Diagnostic Expo with its Indian joint venture, CoSara
Diagnostics Pvt Ltd (“CoSara,” or the “JV”), on January 4-6 in
Hyderabad, India, to formally launch their recently-approved in
vitro diagnostics (IVDs).
The India Diagnostic Expo provides India’s only
focused diagnostics products and consumables exhibition for the
diagnostic services market, which is expected to continue growing
at 27.5% for the next 5 years. Attendance at the expo follows the
December 2019 announcement that CoSara tests for tuberculosis,
malaria, hepatitis B, hepatitis C and human papillomavirus (HPV)
received IVD approval by the Central Drug Standard Control
Organization (“CDSCO”). The licenses and regulatory clearance
granted by the CDSCO allow the 5 tests to be manufactured and sold
for the detection of the respective diseases, with the expo marking
their first formal launch to the Indian market.
The Company and CoSara invite attendees to visit
them at Booth #C-108 daily from 10 AM to 6 PM at the Hitex
Exhibition Center, Venue Hall 3.
Dwight Egan, CEO of Co-Diagnostics, commented
“We are pleased to officially launch these newly-approved
diagnostics tests into India. We believe that our patented
technology and proprietary design process gives products designed
on the CoPrimer™ platform a competitive edge in such a large and
growing market, and the Company looks forward to a successful
roll-out of these in-demand diagnostics.”
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 may include statements
regarding the (i) use of funding proceeds, (ii) expansion of
product distribution, (iii) acceleration of initiatives in certain
verticals or markets, (iv) capital resources and runway needed to
advance the Company’s products and markets, (v) increased sales in
the near-term, (vi) flexibility in managing the Company’s balance
sheet, (vii) anticipation of business expansion, and (vii) 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
a.benson@codiagnostics.com
Co Diagnostics (NASDAQ:CODX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Co Diagnostics (NASDAQ:CODX)
Historical Stock Chart
From Apr 2023 to Apr 2024