Salt Lake City, Utah – October 3, 2019 – Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today that it will be presenting liquid biopsy applications of its patented CoPrimer™ technology at the 4th Advances in Circulating Tumor Cells (ACTC) conference, “Liquid Biopsy: Latest Advances and Future Challenges,” held October 2-5 2019 in Corfu, Greece.
Liquid biopsy refers to an array of diagnostic tools that analyze blood samples—as opposed to tissue—to identify genetic mutations from “circulating tumor” DNA, or ctDNA, which indicate the presence of cancer.
The 4th ACTC brings together liquid biopsy industry leaders, researchers, and clinicians to discuss and share late-breaking news about circulating tumor cells, ctDNA, related technologies, and their clinical applications. The conference website states that “liquid biopsy is a fascinating and exponentially growing field and has a tremendous potential to significantly change the therapeutic strategy in cancer patients, providing an extremely powerful and reliable non-invasive clinical tool for the individual molecular profiling of patients in real time.”
The Company’s presentation is titled “Evaluation of Cooperative Primers for Rare Allele Detection,” and will be delivered on October 4 by CEO Dwight Egan.
“The strengths of our CoPrimer real-time qPCR platform lie in its ability to create incredibly specific multiplex assays, which greatly facilitates identifying an array of different mutations via an effective, cost-efficient diagnostic tool,” remarked Mr. Egan. “With the global economic burden for cancer estimated by the WHO to be US$1.6 trillion nearly 10 years ago, and liquid biopsy projected to be worth as much as $12 billion within 6 years, we believe that these markets will welcome the cost saving advantages afforded by our technology.
“We are thrilled to be able to present the results of our research into using CoPrimers for liquid biopsy applications to such prestigious company. Earlier cancer detection often makes the difference between surviving and succumbing to a disease that is the second leading cause of death in the United States, and even the slightest edge in accurate mutation identification has the potential to save thousands of lives and millions of dollars in the US alone every year.”
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 include statements regarding the (i) use of funding proceeds, (ii) expansion of product distribution, (iii) acceleration of initiatives in liquid biopsy and SNP detection, (iv) use of the Company’s liquid biopsy tests by laboratories, (v) capital resources and runway needed to advance the Company’s products and markets, (vi) increased sales in the near-term, (vii) flexibility in managing the Company’s balance sheet, (viii) anticipation of business expansion, (ix) benefits in research and worldwide accessibility of the CoPrimer™ technology and its cost-saving and scientific advantages and (x) statements regarding the intended use of proceeds. 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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