Co-Diagnostics Adds Central and South America to its List of International Target Markets
13 September 2018 - 8:30PM
Business Wire
Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular
diagnostics company with a unique, proprietary platform for the
development of molecular diagnostic tests, announced today that it
is expanding its list of international target markets with the
completion of a trip to interested laboratories and potential
future sales installations across Central America. As the Company
approaches commercialization of selected molecular diagnostic
tests, Latin America joins India and the Caribbean region as
important target markets for its products.
The purpose of the trip was to introduce Co-Diagnostics’
products to some of the establishments that have expressed interest
in the Company’s infectious disease detection platform. It included
giving demonstrations in nine different clinical, medical, and
research institutions across Honduras and Guatemala for the
Company’s CE-IVD tuberculosis test, as well other tests for human
papillomavirus, Zika virus, hepatitis B virus, and a viral load
test for hepatitis B that are currently designated as Research or
Investigational Use Only.
The trip and product demonstrations were conducted by local
Company representatives and Cameron Gundry, Co-Diagnostics’
recently-appointed Director of Commercialization for Latin America.
Mr. Gundry, a veteran of the industry including 18 years with
Biofire Diagnostics, commented upon his return, “Tuberculosis,
human papillomavirus, Zika and hepatitis B are significant issues
throughout Latin America. After several years of product
development and market-research to determine demand, this trip
represented an important phase in our efforts to bring
Co-Diagnostics’ products to the Latin American region.
“The Company has long believed that interest levels would be
high for our quality, affordable diagnostics, and the feedback we
received from the cross-section of potential customers we had the
fortune of visiting, some of which were among the largest
laboratories of their kind in those countries, confirmed our
beliefs. We feel confident that the groundwork we are laying has
the potential to result in a substantial ROI for the Company.”
Co-Diagnostics’ products are sold in compliance with the local
registration and regulatory requirements of the importing
countries, including offering products through regional
distributors where available. The Company expects sales to commence
once those requirements have been met, and for products to be
available as in-vitro diagnostics following approvals by the
appropriate regulatory bodies.
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 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, and (ix) 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180913005325/en/
Co-Diagnostics, Inc.Company Contact:Denny Crockett,
801-438-1036Sales
Representatived.crockett@codiagnostics.comorInvestor
Contact:Lytham Partners, LLCJoe Diaz, Robert Blum and Joe
Dorame602-889-9700
Co Diagnostics (NASDAQ:CODX)
Historical Stock Chart
From Apr 2024 to May 2024
Co Diagnostics (NASDAQ:CODX)
Historical Stock Chart
From May 2023 to May 2024