Co-Diagnostics Receives Patent for CoPrimer™ Technology
10 October 2018 - 9:30PM
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
has been awarded a patent from the United States Patent and
Trademark Office related to the Company’s CoPrimer™ platform
technology.
Dwight Egan, CEO of Co-Diagnostics, commented, “We are very
pleased that the remarkable capabilities of our flagship technology
has been awarded patent protection. Now that the groundbreaking
work and advancements of our co-founder, Dr. Brent Satterfield, in
the field of PCR technology have been officially recognized by the
granting of this patent, the Company is prepared to begin offering
CoPrimers as a platform technology under license agreements with
manufacturers and developers of molecular diagnostics in a broad
array of industry segments. With some recent reports estimating the
size of the PCR industry alone to reach over $7 Billion within the
next several years, the ability to monetize and safely license our
technology in this space has never been more important, nor more
valuable.
“In addition to successful developments announced recently in
AgBio, next-gen sequencing and genotyping, and cancer screening and
detection, the CoPrimer technology also forms the foundation of our
innovative infectious disease detection products, many of which are
proceeding through the regulatory processes that will allow us to
meet customer expectations in their respective target markets. This
patent not only affords us the full protection of the USPTO for
licensing activities, it also provides additional confirmation of
the uniqueness of our technology and what sets Co-Diagnostics apart
from the rest of the industry.”
Patent no. 10,093,966, “COOPERATIVE PRIMERS, PROBES, AND
APPLICATIONS THEREOF,” covers the method for synthesizing a nucleic
acid molecule in the structure first developed by Dr. Satterfield
in 2012. This molecule, called a “CoPrimer,” underpins the
technology that has been shown to enhance the output of polymerase
chain reaction (“PCR”) molecular diagnostic tests by dramatically
minimizing false positive test results. Traditional primer
molecules in PCR technology will often cause false results by
interacting with each other rather than the target sequence. The
patented structure of CoPrimers prevents this interaction, making
the technology ideal for a wide array of PCR applications,
including infectious diseases, multiplexing of PCR reactions,
SNP/SNV detection, agricultural and food supply chain uses, liquid
biopsy, and next generation sequencing.
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.
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Co-Diagnostics, Inc.Andrew BensonCo-Diagnostics Investor
Relations801-438-1036investors@codiagnostics.comorInvestor
Contact:Joe Diaz, Robert Blum and Joe DorameLytham Partners,
LLC602-889-9700
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