Co-Diagnostics, Inc. Announces Successful Initial Verification of Novel Coronavirus Test
January 31 2020 - 3:35PM
Business Wire
Components of recently designed novel
coronavirus assay have successfully passed initial
verification
Co-Diagnostics, Inc. (Nasdaq:CODX), a molecular
diagnostics company with a unique, patented platform for the
development of diagnostic tests, announced today the successful
initial verification of its screening test designed to identify the
presence of the novel coronavirus that originated in China before
spreading across the world, and that the test will soon be ready
for validation in and subsequent distribution to any appropriate
venue across the globe.
Dwight Egan, Co-Diagnostics CEO remarked, “After a concerted
effort by Company scientists and laboratory technicians, I am
pleased to report that our unique and rapid development process has
culminated in a test with excellent characteristics.
“Our dedicated team will continue to work to perform additional
verifications and preparations to quickly make the test components
available to laboratories around the world, for validation with
human samples,” Mr. Egan continued. “We express our appreciation to
LGC BioSearch for expediting the manufacturing process of the
CoPrimer™ components of the test. Co-Diagnostics looks forward to
providing updates on our test progress as we plan to make it
available to affected markets.”
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 (viii) 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200131005557/en/
Company Contact: Andrew Benson Head of Investor Relations
+1 801-438-1036 investors@codiagnostics.com
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