Salt Lake City, Utah – February 19, 2020 – Co-Diagnostics, Inc. (Nasdaq:CODX), a molecular diagnostics company with a unique, patented platform for the development of diagnostic tests, announced today that it has received new orders for its vector control tests and equipment from mosquito abatement districts following attendance at several vector control conferences. Recent conference appearances included a presentation at the 3rd International Conference on Zika Virus and Aedes Related Infections on February 13-16, 2020 in Washington D.C., where Co-Diagnostics was well-received by the global audience.
The conference provided a forum for the Company to showcase its technology platform and full suite of mosquito abatement tests to those in attendance, and to report on its rapid response to the outbreak of Covid-19 during the conference’s coronavirus symposia.
Co-Diagnostics has recently added new mosquito abatement customers in the Eastern United States as well as the Midwest. Significantly, the Company offers tests tailored to all regions of the country, including multiplexed tests that include either eastern equine encephalitis or western equine encephalitis, depending on the abatement district location. As a result of the conference presentation and exhibition, the Company received broad domestic and international interest in its products.
Company CEO Dwight Egan said, “Our Company strategy focuses on leveraging our patented CoPrimer™ platform for applications in plant, animal, and human genomes. We are now generating sales in all of these verticals, which include revenue from well-respected customers and partners like LGC, Dare Labs, Biotech Bolivia, Guyana Defense Force, numerous mosquito abatement districts and a significant joint venture in India with 5 tests cleared with the CDSCO for use as in vitro diagnostics (IVD’s).”
Mr. Egan continued, “We continue to receive overwhelming interest in the progress of our coronavirus product offering. In addition to fulfilling a substantial initial order of the Research Use Only version of this test for an international customer, we also are quickly moving towards obtaining clearance from the relevant regulatory bodies that we believe will soon allow us to market and sell the test as a fully-approved IVD. But that is just the tip of the iceberg of our overall global strategy, as we have considerable attractiveness in other international markets as a result of our value proposition being geared around price and performance.
“Co-Diagnostics’ product offerings target the diseases that are rampant in several under-served regions and other large markets, which necessarily includes detection of microorganisms in mosquitoes, the deadliest creature on the planet, and we are pleased to announce that the Company continues to make progress on multiple fronts.”
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.
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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