Co-Diagnostics Adds Central and South America to its List of International Target Markets

SALT LAKE CITY–(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.

Contacts

Co-Diagnostics, Inc.
Company Contact:
Denny Crockett,
801-438-1036
Sales Representative
d.crockett@codiagnostics.com
or
Investor
Contact:

Lytham Partners, LLC
Joe Diaz, Robert Blum and
Joe Dorame
602-889-9700

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