Co-Diagnostics, Inc. Manufacturing Joint Venture Breaks Ground in India
SALT LAKE CITY–(BUSINESS WIRE)–Co-Diagnostics, Inc. (NASDAQ: CODX) (“Co-Diagnostics”), a molecular diagnostics company that has a unique, proprietary platform for the development of diagnostic tests, and Synbiotics Limited (“Synbiotics”), a group company of Asence Inc, a U.S. incorporated company specializing in supplying pharmaceutical products to international markets, announced today that CoSara Diagnostics, Pvt., Ltd. (“CoSara”), a Joint Venture for manufacturing, has broken ground for its manufacturing facility in India.
Co-Diagnostics and Synbiotics incorporated the CoSara entity in India in July 2017. Since that time, CoSara has secured permits and approved building plans necessary to begin construction of a facility that will manufacture Co-Diagnostics products according to internationally recognized Good Manufacturing Practice (GMP) standards. GMP-produced diagnostics are required by many laboratories and hospitals to ensure that the products are manufactured in facilities with proper design and control processes in place. The facility is expected to be completed in April 2018, at which time CoSara will have the exclusive Indian manufacturing rights for Co-Diagnostics products.
Dwight Egan, Co-Diagnostics CEO, remarked, “Manufacturing our products according to GMP standards underscores our commitment to quality in all stages of Co-Diagnostics products’ design and production cycles. It also allows CoSara access to the institutions that insist on the high-level standards that accompany GMP-produced products, both in India and worldwide as the manufacturing facility grows to accommodate global demand for innovative and cost-conscious products built on Co-Diagnostics’ technology platform.”
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.
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