SALT LAKE CITY--(BUSINESS WIRE)--
Co-Diagnostics, Inc. (CODX), a molecular diagnostics company with a unique, proprietary platform for the development of molecular diagnostic tests, announced today that it has been awarded a patent from the United States Patent and Trademark Office related to the Company’s CoPrimer™ platform technology.
Dwight Egan, CEO of Co-Diagnostics, commented, “We are very pleased that the remarkable capabilities of our flagship technology has been awarded patent protection. Now that the groundbreaking work and advancements of our co-founder, Dr. Brent Satterfield, in the field of PCR technology have been officially recognized by the granting of this patent, the Company is prepared to begin offering CoPrimers as a platform technology under license agreements with manufacturers and developers of molecular diagnostics in a broad array of industry segments. With some recent reports estimating the size of the PCR industry alone to reach over $7 Billion within the next several years, the ability to monetize and safely license our technology in this space has never been more important, nor more valuable.
“In addition to successful developments announced recently in AgBio, next-gen sequencing and genotyping, and cancer screening and detection, the CoPrimer technology also forms the foundation of our innovative infectious disease detection products, many of which are proceeding through the regulatory processes that will allow us to meet customer expectations in their respective target markets. This patent not only affords us the full protection of the USPTO for licensing activities, it also provides additional confirmation of the uniqueness of our technology and what sets Co-Diagnostics apart from the rest of the industry.”
Patent no. 10,093,966, “COOPERATIVE PRIMERS, PROBES, AND APPLICATIONS THEREOF,” covers the method for synthesizing a nucleic acid molecule in the structure first developed by Dr. Satterfield in 2012. This molecule, called a “CoPrimer,” underpins the technology that has been shown to enhance the output of polymerase chain reaction (“PCR”) molecular diagnostic tests by dramatically minimizing false positive test results. Traditional primer molecules in PCR technology will often cause false results by interacting with each other rather than the target sequence. The patented structure of CoPrimers prevents this interaction, making the technology ideal for a wide array of PCR applications, including infectious diseases, multiplexing of PCR reactions, SNP/SNV detection, agricultural and food supply chain uses, liquid biopsy, and next generation sequencing.
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 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.