BARCELONA, SPAIN / ACCESSWIRE / July 25, 2018 / Co-Diagnostics, Inc. (CODX) is a molecular diagnostics company that has developed a unique, patented and patent-pending diagnostic testing technology. A Utah corporation headquartered in Salt Lake City, Utah, its primary business is to commercialize its technology through sales, development and licensing. The innovative technology is embodied in 5 patents granted and pending and certain trade secrets, which make DNA testing for diseases faster, higher in performance, and more cost efficient than traditional technologies of the past. In addition to infectious disease testing, it also has broad applications for liquid biopsy, next-gen sequencing, and SNP detection.
Today the Company announced today that its Logix Smart™ MTB Test technical file has been approved for registration with the European Community, and that the CE marked in vitro diagnostic ("IVD") is expected to be available for purchase early in August in markets that accept a CE mark as valid regulatory approval.
The Logix Smart MTB Test detects DNA of mycobacteria tuberculosis (MTB) complex members and functions via real-time polymerase chain reaction (PCR) to detect and amplify the regions of the MTB genome.
The key component to battling tuberculosis is an early, accurate, and affordable diagnosis. The Company expects that this will help them to better meet the global demand for detection of a disease that causes over 1.5 million deaths per year. Roughly 95% of these deaths occur in low and middle-income countries, which includes those in Eastern Europe in addition to many across Central America and the Caribbean basin. In the case of the latter, the Departments or Ministries of Health recognize clearance by the European Community as valid regulatory approval to allow sale of CE marked products throughout their jurisdictions.
With the number of infections upwards of 10.5 million per year, and 99.9% of those occurring outside the United States, the Company believes that a CE marking is the most appropriate and effective route to address this growing market in need of a competitively-priced diagnostics solution, which they also anticipate will have a positive impact on their financial growth in the future.
Access Coverage of Co-Diagnostics at: www.wallstreetclub.com.
About Co-Diagnostics, Inc.:
Co-Diagnostics, Inc., a Utah corporation, is a molecular diagnostics company with a proprietary diagnostic testing technology and development platform that 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 license the use of its platform to other non-competing developers.
About BDA International, Inc.:
BDA International is an independent global Investor Relations firm offering a wide range of IR-related analysis, research and advisory services. In particular, we provide strategic action plans, and investor/market perception studies to help entities improve communication with customers and investors. Moreover, we produce annual reports, prospectuses, videos, and marketing ready materials, as well as help companies arrange meetings and conference calls with institutional investors and analysts.
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, BDA andThe Wall Street Club undertake no obligation to update any forward-looking statement relating to matters discussed in this press release, except as may be required by applicable securities laws. BDA International and The Wall Street Club is neither a registered broker-dealer nor a registered investment advisor.
SOURCE: Co-Diagnostics, Inc.