Co-Diagnostics Inc CoPrimers Provide High-Performance Detection of Cancer Mutations in Liquid Biopsy Samples
18 July 2019 - 8:30PM
Co-Diagnostics, Inc.
(Nasdaq: CODX), a molecular
diagnostics company with a unique, patented platform for the
development of molecular diagnostic tests, announced today
favorable results of a study to detect cancer mutations using its
patented CoPrimer™ technology, with applications in liquid biopsy
and companion diagnostic tests.
Unlike invasive and more expensive tissue
biopsies, liquid biopsies identify traces of cancer in a simple
blood draw. The Company's study, performed on circulating free DNA
(cfDNA) reference materials, demonstrated highly specific detection
of the ten mutations associated with non-small cell lung cancer
(NSCLC), reliably and successfully distinguishing the genes with
mutations from those without. The CoPrimer-based polymerase chain
reaction (PCR) test was also shown to be highly sensitive,
identifying the NSCLC genes at the lowest possible percentage
available with the reference material.
PCR-based liquid biopsy tests are simpler and
more affordable compared to other methods of monitoring cancer
patients, such as whole-body imaging, although relatively few blood
tests are currently available. The results of the Company's study
also confirm the usefulness of the CoPrimer platform as a cancer
treatment companion diagnostic, to monitor treatment response and
provide early detection of drug resistance mutations.
Dwight Egan, Co-Diagnostics CEO, commented: "The
global cancer diagnostics market was recently valued at $144 bn and
growing, as healthcare professionals focus on more effective
diagnostics and monitoring to battle one of the leading causes of
death worldwide. We anticipate a large and ready market among
clinical laboratories for NSCLC and other cancer liquid biopsy
tests designed on our CoPrimer platform. Given the relatively few
PCR liquid biopsy tests on the market and the growing demand for
more, we believe the advantages of our technology will create
meaningful revenue opportunities and position Co-Diagnostics to
become a leading innovator of liquid biopsy solutions.”
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.
Company
Contact:
Andrew
Benson
Head of Investor
Relations
+1
801-438-1036
investors@codiagnostics.com
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