Salt Lake City, Utah – January 9, 2020 – Co-Diagnostics, Inc. (Nasdaq:CODX) (the “Company”), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today additional information concerning the presentation of its CoPrimer™ technology by a representative of Bayer – Crop Science yesterday at the International Plant & Animal Genome (PAG) XXVIII conference, including the successful multiplexing of a panel of 15 targets using CoPrimer assays.
The presentation, titled “CoPrimer Assays for Multiplex PCR,” described a study that involved developing several genotyping assays using BHQplex™ CoPrimer technology, the LGC, Biosearch-branded CoPrimers. All different combinations of assays and plex-levels tested were shown to be successful in detecting the target sequences, without being inhibited by the multiplexing. This included successfully enabling the multiplexed detection of a panel of 15 proprietary agricultural DNA targets.
Multiplex PCR (polymerase chain reaction) refers to interrogating a genetic sample for the presence of multiple targets (certain genetic sequences) at one time, instead of performing separate tests for each target. Multiplex PCR has several cost, throughput, and economical advantages over single-plex PCR reactions, which advantages increase with the plex level.
In addition to groundbreaking multiplex capabilities, Bayer’s presentation also highlighted the CoPrimer technology’s inherent flexibility for assay interchangeability, and its high degree of sensitivity and specificity in detecting DNA targets.
Dwight Egan, CEO of Co-Diagnostics, remarked “We are excited to announce this third-party validation, the importance of which cannot be overstated, and which further supports our confidence in the uniqueness and superior advantages of our patented CoPrimer platform technology. Bayer’s commitment to a world where more sustainable farming practices and more adaptive, resilient plants are part of the solution to making hunger a thing of the past aligns perfectly with our mission to improving the lives and quality of life in communities across the world.
“With partners like LGC, including their globe-spanning footprint in over 200 countries, and validation from such an important force in the world of agriculture as Bayer, we believe that Co-Diagnostics is better positioned than ever to leverage our technology platform and establishing the Company as a valuable player in the world of AgBio.”
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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