Co-Diagnostics Inc - End of Exciting Year, Revenues & More Excitement Ahead in 2019
NEW YORK CITY, NY / ACCESSWIRE / December 20, 2018 / Dwight Egan, CEO of Co-Diagnostics Inc, (NASDAQ: CODX) a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, discussed the expectation for sales before the end of 2018 in a virtual investor conference earlier this month. The discussion included the following milestones:
First Quarter 2018
• February 2018: The Company announced positive results in SNP multiplex tests. Months later this was revealed to have been part of an ongoing research and development study with LGC, Biosearch and helped to set the stage for a subsequent license agreement.
Second Quarter 2018
• June 2018: The flagship technology platform - CoPrimers™ - was used in a research project with Stanford University; the Company considered this to be an important external validation of the innovation of the technology.
• June 2018: Co-Diagnostics announces major milestone in scientific advancement of its CoPrimer™ technology, demonstrating its potential in multiplex SNP genotyping applications.
Third Quarter 2018
• July 2018: Co-Diagnostics received CE Mark for Logix Smart™ Tuberculosis Test Kit, allowing sale of the product in all countries and jurisdictions that accept CE markings as valid regulatory approval for in vitro diagnostics.
• September 2018: Co-Diagnostics expanded target markets to include Central and South America.
Fourth Quarter 2018
• October 2018: Co-Diagnostics expanded suite of intellectual property by receiving US patent protection for its flagship CoPrimer™ technology, opening the door for future license agreements of the technology and offering primer design services for PCR tests built on the platform.
• October 2018: Co-Diagnostics received CE Mark for its Logix Smart™ Zika Test Kit, expected to facilitate sale of the product in all countries and jurisdictions that accept CE markings as valid regulatory approval for in vitro diagnostics.
• October 2018: Co-Diagnostics signed license agreement with LGC, Biosearch for use of CoPrimer technology for the AgBio market, seen as a major industry validation of the technology in multiplexing and SNP detection applications.
• November 2018: Co-Diagnostics launched new website to focus on promotion and sale of its market-ready products and services.
• November 2018: Co-Diagnostics announced exclusive distributor agreement in the Dominican Republic and conducted training and sales seminars with nearly 20 labs and hospitals, setting up near-term sales potential.
• December 2018: Co-Diagnostics announces expanded international licensing and revenue opportunities following receipt of UK patent for RapidProbe™ design technology.
Mr. Egan remarked: “These milestones, when taken together as a whole, tell a very exciting story of our progress and potential. Our progress can be seen as moving forward in three primary areas, which all support and strengthen each other. The first two areas are: building relationships with major players in the diagnostics and PCR industry, and the development of sales channels (plus IVD regulatory approvals for two major diagnostics). These growth areas have direct revenue potential that we anticipate very shortly, in some cases before the end of this year.
And these two avenues are both supported by, and also continue to drive, the third area, that of continued scientific advancements of our core technology. These advancements have not only been instrumental in shoring up our relationships with several key strategic partners, but they have also opened the door for additional product development, including entrees into liquid biopsy, next-gen sequencing, and of course the AgBio industry.
As the technological advancements continue to grow, they in turn open more doors with more partners, which drives more advancements, which allows for a wider range of tests, products, and services for our customers.”
Access to an archived version of the conference is available through the Company’s Events andPresentations page.
Access to the Wall Street Club Interview remains available here
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SOURCE: Co-Diagnostics Inc,