SANDY, Utah–(BUSINESS WIRE)–Co-Diagnostics, Inc. (NASDAQ: CODX), a molecular diagnostics company with a unique, proprietary platform for the development of molecular diagnostics, announced today that a major laboratory in the Caribbean Basin has completed its first purchase of the Company’s tests.
The purchasing laboratory is one of the most recognized in the country, with testing services provided to over 100,000 clients per year, ranging from general laboratory testing and routine screening to infectious disease (including the Zika virus), toxicology, pharmacology, and genetic testing. The tests included with this initial purchase are designated as Research Use Only and are expected to be used to confirm reproducibility and performance properties of the Company’s technology, with larger orders, including several tests currently in the Company’s production pipeline, anticipated to follow in Q1 2018. All tests will be run on the Mic-4 qPCR cycler manufactured by Bio Molecular Systems, with whom the Company has an OEM agreement related to branding and distribution of the instrument. The Mic software is also optimized specifically to enhance ease-of-use of the Company’s diagnostic assays.
Co-Diagnostics CEO Dwight Egan commented: “We are pleased to officially announce our initial sale of products to such a significant laboratory. The laboratory’s importance to the local population and footprint throughout the country, along with their high standards of quality of care, make them a perfect fit to help us realize our own vision of bringing our state-of-the-art technology coupled with advanced diagnostic equipment to people that can benefit most from high-quality diagnostics. We are gratified to see a return on the time and effort leading to this sale, which we are confident represents the first of many with this new customer.”
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.
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. 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.
Andrew Benson, 801-438-1036
Co-Diagnostics Investor Relations
Lytham Partners, LLC
Joe Diaz, Robert Blum and Joe Dorame