Co-Diagnostics, Inc. CEO Inaugurates Manufacturing Joint Venture Facility

CoSara Diagnostics facility to be among the first of its kind in
India

SALT LAKE CITY–(BUSINESS WIRE)–Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics
company with a unique, patented platform for the development of
molecular diagnostic tests, announced today the inauguration of its
Indian joint venture facility for manufacturing in Ranoli, India.

The manufacturing facility for CoSara Diagnostics Pvt Ltd (CoSara) is
one of the first facilities for manufacturing molecular diagnostics in
India and is intended to meet both current and future requirements for
medical device manufacturing, which are expected to be implemented by
the Indian government over the next few years. The facility was also
designed to be in compliance with ISO 13485:2016, cGMP (Current Good
Manufacturing Practices) regulations, and audits for WHO qualification
and CE-marking of diagnostics products.

Mr. Dwight Egan, CEO of Co-Diagnostics Inc., and Mr. Mohal Sarabhai, CEO
of Synbiotics Pvt Ltd, inaugurated the facility on April 8, 2019. The
inauguration was attended by officers and department heads of CoSara,
Co-Diagnostics, and Synbiotics, as well as suppliers, distributors, and
other invited guests. Company personnel also conducted additional
trainings, and attended press conferences and other receptions to help
introduce CoSara to the Indian market.

“We are honored to be a part of such an auspicious occasion with such
prestigious partners in this endeavor, and proud of the hard work of all
involved that has brought us to this point,” remarked Mr. Egan. “We
believe that the new facility, its high standards of quality, and room
for future expansion will accelerate our infectious disease initiative
as it addresses the need for diagnostic solutions in one of the largest
health care markets in the world.”

Mr. Sarabhai commented, “CoSara brings cutting-edge molecular technology
to India through this joint venture. The opening of this facility is
truly well-timed and sets in well with the ‘make in India’ initiative,
as well as the almost imperative transition to NAAT-based screening for
blood banks and management of diseases. This will be a breakthrough for
highly accurate diagnostics which lead to early detection and conclude
with well-timed treatment responses.”

CoSara has the exclusive manufacturing rights in India for the complete
menu of Co-Diagnostics infectious disease molecular diagnostics kits,
designed by Co-Diagnostics using their patented CoPrimer™ technology
platform. The initial market launch includes in vitro diagnostic
kits for the detection of mycobacterium tuberculosis (TB),
drug-resistant tuberculosis, malaria, hepatitis B, hepatitis C, human
papillomavirus, and HIV. Future tests include expansion into the
oncology and hemorrhagic fever markets and several other
hospital-acquired infectious organisms.

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

Andrew Benson
Head of Investor Relations
+1 801-438-1036
investors@codiagnostics.com

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