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Company believes direct saliva to play a key role in high throughput, point of care, and at home applications
SALT LAKE CITY, Feb. 16, 2021 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics company with a unique, patented platform for the development of diagnostic tests, announced today that it will be presenting on direct saliva testing for COVID-19 at the 28th Annual International Molecular Medicine Tri-Conference, held virtually on February 16-18, 2021.
Company representatives will introduce the Co-Diagnostics Logix Smart SARS-CoV-2 DS (Direct Saliva) kit, which the Company has submitted for Emergency Use Authorization (EUA) to the US Food and Drug Administration (FDA). The virtual presentation will be webcast to conference attendees at 4:30 pm EST on Tuesday February 16th, and will include a description of the test technology, its workflow processes, and the engineering process involved in its development, as well as a test demonstration. Co-Diagnostics will also participate in a moderated Q&A panel discussion at 4:50 pm EST the same day with other industry and academic experts in SARS-CoV-2 molecular diagnostic testing.
Co-Diagnostics CEO Dwight Egan remarked "We are honored to introduce this cutting-edge technology to the international molecular diagnostics industry at Tri-Con. The Company believes direct saliva has the potential to greatly improve COVID-19 testing throughput while delivering lower processing costs and increased accessibility of gold-standard PCR diagnostics worldwide, including point-of-care and "at home" applications for businesses, schools, and home settings.
Mr. Egan continued, "This direct saliva test is another illustration of our core belief that affordable, fast, accurate and accessible surveillance and diagnostic solutions should be available everywhere, which includes the use of testing technology that gives individuals the power to know their correct COVID-19 status quickly, and inexpensively. Our direct saliva test technology was developed specifically to address the efficiency demands of high-throughput lab applications as well as the accessibility imperatives of the point-of-care and "at home" markets. As populations around the world go back to the office, as students go back to school, as people again travel and participate in entertainment venues, we believe this direct saliva technology will help ensure "COVID-safe" environments through fast, accurate, affordable and accessible testing solutions."
The Molecular Med Tri-Con is presented by the Cambridge Healthtech Institute and is regarded as the most comprehensive, industry-leading event covering precision medicine and diagnostics today. Parties interested in attending can register at the link found here.
Co-Diagnostics filed for Emergency Use Authorization with the FDA for the Logix Smart SARS-CoV-2 DS. This test has been validated by Co-Diagnostics, but the FDA's independent review of this validation is pending and sales in the US will commence following authorization. The Co-Diagnostics suite of Logix Smart COVID-19 diagnostics are believed to detect all known variants of SARS-CoV-2, including those recently discovered in the UK, South Africa, and Brazil, according to the Company's regulatory bulletin found on the relevant product pages.
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 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 rely on any forward-looking statements. Any forward-looking statement made by the Company in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. 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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