World Health Organization & UNICEF Confirm High Demand for Zika Solutions in Co-Diagnostics Targeted Markets
Sales of Logix Smart™ Zika Test to be facilitated by recently-obtained CE mark
NEW YORK CITY, NY / ACCESSWIRE / October 23, 2018 / The need to identify and protect against Zika transmission and potential future epidemics not only still exists, but should addressed in a sustained, persistent manner among communities experiencing the virus, according to representatives from the World Health Organization (WHO). The regions threatened by Zika represent primary areas of focus for Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics company with a unique, proprietary platform for the development of molecular diagnostic tests, who recently received the CE-marking approval for its Logix Smart™ Zika Test in anticipation offering an affordable diagnostic solution to meet this demand.
Although public awareness of Zika may have waned since the time that it comprised a regular component of the global news cycle, the threat it poses has not abated, with the WHO raising the priority for R&D investments for Zika in their 2018 annual review of diseases.
Furthermore, spiraling demand for Zika virus testing also stems from government-led preparedness programs and support from international organizations including UNICEF. Stockpiling and emergency preparedness initiatives are now focusing on endemic regions as well as immunologically naïve population subsets in the Asian and African markets, which hold high threat of future outbreaks.
The Zika diagnostics market is estimated to be worth close to $.5 Billion over the next five years, and Co-Diagnostics expects that their technology and product will help to meet the demand by providing a more affordable Zika diagnostic solution.
Some of the major players within the Zika virus testing market that Co-Diagnostics could disrupt includeAbbott Laboratories (ABT) Chembio Diagnostic Systems Inc (CHEMI) F. Hoffmann-La Roche Ltd. (ROG) Fast Track Diagnostics Ltd (SHL) Luminex Corporation (LMNX) Quest Diagnostics (DGX)
The Logix Smart Zika Test is built using Co-Diagnostics’ patented CoPrimer™ technology, which has been shown to enhance the output of molecular diagnostic tests by dramatically minimizing false positive test results.
Laboratories, hospitals, and institutions interested in learning more about this CE-marked IVD for Zika virus can contact the company at: .
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.
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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.
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SOURCE: Co-Diagnostics, Inc.