Co-Diagnostics Inc to Discuss New Coronavirus Test During GenomeWeb Webinar on Feb 5
February 04 2020 - 6:30AM
Business Wire
Coronavirus assay will be addressed in
webinar, as well as development of an innovative multiplex
application of Company’s technology for mosquito
populations
Co-Diagnostics, Inc. (Nasdaq:CODX), a molecular
diagnostics company with a unique, patented platform for the
development of diagnostic tests, announced today that the GenomeWeb
webinar scheduled to be delivered on February 5, 2020 will provide
insight into work on the Company’s assay for the new strain of
coronavirus, and will also include a behind-the-scenes look at the
collaborative development of an innovative multiplex test for
infectious diseases in mosquito populations.
In the webinar, Co-Diagnostics will describe how Company
scientists were able to design and complete initial verification
work of its test for the novel coronavirus in a little over one
week, and the next steps for validation, emergency use
registration, and commercialization. An outbreak of respiratory
illness caused by the pneumonia-like coronavirus, referred to as
“2019-nCoV” has spread rapidly over the past several weeks, after
first being identified in the Chinese city of Wuhan on January 7.
Since that time, infections have been confirmed in 27 countries,
including 11 patients testing positive in the US, with over 17,000
cases world-wide (nearly double that of SARS in 2002 and 2003), and
at least 361 confirmed deaths, nearly all located within China.
The Company continues to advance its vector control initiative,
and the webinar will also include discussion by Company
representatives addressing the development and utility of multiplex
applications for detection of infectious diseases in mosquitoes
using the patented CoPrimer™ platform. Vector control products
currently being marketed by the Company across the United States
include those for West Nile virus, Zika, dengue, St. Louis
encephalitis, and western and eastern equine encephalitis. The
General Manager of one of several mosquito abatement districts that
have already implemented the Company’s tests will discuss how using
the assays to obtain same-day results can enable communities to
reduce infection rates and prevent unnecessary infections and
subsequent treatments.
Dwight Egan, CEO of Co-Diagnostics, commented, “Co-Diagnostics
is pleased to announce that the verification process for its novel
coronavirus assay has resulted in a test that shows excellent
sensitivity. Based on these results, we believe that our qPCR test
will be capable of detecting the presence of the virus in patient
samples with low levels of infection, even with asymptomatic
patients in early stages of infection. The World Health
Organization (WHO) recently declared a global health emergency in
response to the outbreak and indicated that real-time PCR is the
most appropriate method for detecting the virus in early stages,
which we anticipate will also be borne out in the validation of our
assay as we proceed towards commercialization and distribution.
“The Company is also excited for the opportunity to use this
forum to speak directly to end-users of our vector control
products, which we began to commercialize last year and interest in
which has grown significantly since that time. We believe the
advantages of our CoPrimer technology will positively impact
communities as our marketing efforts continue to bear fruit.”
Interested participants can learn more about and register for
the webinar, sponsored by LGC, Biosearch Technologies, by clicking
this link.
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/20200204005393/en/
Andrew Benson Head of Investor Relations +1 801-438-1036
investors@codiagnostics.com
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