SALT LAKE CITY–(BUSINESS WIRE)–$CODX #COVID19–Co-Diagnostics, Inc. (Nasdaq:CODX), a molecular diagnostics company with a unique, patented platform for the development of diagnostic tests, announced today that Dr. Brent Satterfield PhD, Chief Scientific Officer and co-founder of Co-Diagnostics, will address a meeting held by the Bipartisan Commission on Biodefense in Washington, D.C. on March 18, 2020. The focus of the meeting will be to address national biodefense in light of the response to COVID-19, and its implications for preparedness.
Co-Diagnostics was the first U.S. company to receive a CE-mark for a COVID-19 diagnostic test. The Company is currently shipping orders for its test to countries on 5 continents, including shipments to Italy, the most severely impacted country in the European Union. The Company continues to scale up production to meet global demand, and is also seeking emergency use clearance for use as an in vitro diagnostic by the U.S. FDA as well as by the CDSCO in India, both of which are expected to further increase the domestic and international reach of this powerful and cost-effective diagnostic tool.
The rapid development of the Company’s COVID-19 test was made possible by a unique, proprietary design process and patented CoPrimer™ technology platform that was invented by Dr. Satterfield. Prior to founding Co-Diagnostics in 2013, Dr. Satterfield developed new diagnostic platforms for groups such as the Department of Homeland Security, the National Biodefense Analysis and Countermeasures Center, the United States Army Medical Research Institute of Infectious Disease, Sandia National Laboratories, the California Department of Public Health and numerous others.
Dr. Satterfield remarked, “I am pleased to present the details of the rapid development of our COVID-19 test to the Bipartisan Commission on Biodefense. The Company’s proprietary platform serves as a template to develop other tests needed now, and in the future as new pathogens surface in our interconnected world. Our current test detects COVID-19 with a high level of specificity to distinguish it from similar viruses. However, in addition to recently being declared a pandemic by the World Health Organization, the virus that causes COVID-19 is also believed to be mutating. Co-Diagnostics’ patented CoPrimer technology is uniquely suited to quickly develop multiplex assays that can identify multiple mutations of the virus in a single test when the need arises. Rapid, efficient development of multiplexed tests is a core competency of Co-Diagnostics.”
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.
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 may include statements regarding the (i) use of funding proceeds, (ii) expansion of product distribution, (iii) acceleration of initiatives in certain verticals or markets, (iv) capital resources and runway needed to advance the Company’s products and markets, (v) increased sales in the near-term, (vi) flexibility in managing the Company’s balance sheet, (vii) anticipation of business expansion, and (viii) 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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