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Co-Diagnostics, Inc. Manufacturing Joint Venture Breaks Ground in India

2017年11月07日 PM09:30
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SALT LAKE CITY

Co-Diagnostics, Inc. (NASDAQ: CODX) (“Co-Diagnostics”), a molecular diagnostics company that has a unique, proprietary platform for the development of diagnostic tests, and Synbiotics Limited (“Synbiotics”), a group company of Asence Inc, a U.S. incorporated company specializing in supplying pharmaceutical products to international markets, announced today that CoSara Diagnostics, Pvt., Ltd. (“CoSara”), a Joint Venture for manufacturing, has broken ground for its manufacturing facility in India.

Co-Diagnostics and Synbiotics incorporated the CoSara entity in India in July 2017. Since that time, CoSara has secured permits and approved building plans necessary to begin construction of a facility that will manufacture Co-Diagnostics products according to internationally recognized Good Manufacturing Practice (GMP) standards. GMP-produced diagnostics are required by many laboratories and hospitals to ensure that the products are manufactured in facilities with proper design and control processes in place. The facility is expected to be completed in April 2018, at which time CoSara will have the exclusive Indian manufacturing rights for Co-Diagnostics products.

Dwight Egan, Co-Diagnostics CEO, remarked, “Manufacturing our products according to GMP standards underscores our commitment to quality in all stages of Co-Diagnostics products’ design and production cycles. It also allows CoSara access to the institutions that insist on the high-level standards that accompany GMP-produced products, both in India and worldwide as the manufacturing facility grows to accommodate global demand for innovative and cost-conscious products built on Co-Diagnostics’ technology platform.”

About Co-Diagnostics, Inc.:

Co-Diagnostics, Inc., a Utah corporation, is a molecular diagnostics company that has developed and intends to manufacture and sell reagents used for diagnostic tests that function via the detection and/or analysis of nucleic acid molecules (DNA or RNA), and to sell diagnostic equipment from other manufacturers as self-contained lab systems.

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. 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.

Disclaimer:

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171107005757/en/

CONTACT

Co-Diagnostics, Inc
Andrew Benson, Investor Relations
801-438-1036
investors@codiagnostics.com

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