Co-Diagnostics Receives Patent for CoPrimer™ Technology

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 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.

Contacts

Co-Diagnostics, Inc.
Andrew Benson
Co-Diagnostics
Investor Relations
801-438-1036
investors@codiagnostics.com
or
Investor
Contact:
Joe Diaz, Robert Blum and Joe Dorame
Lytham
Partners, LLC
602-889-9700