Co-Diagnostics, Inc. Test Performance Demonstrated by Australian Researchers in Peer-Reviewed Publication

SALT LAKE CITY, April 20, 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 its Logix Smart™ COVID-19 Test Kit was used by Australian researchers to demonstrate rapidly deployable mobile molecular diagnostics support for remote locations, with the peer-reviewed results published in the Journal of Medical Microbiology.

The study was performed using readily available open-source equipment and materials that could be successfully operated in regional clinical laboratories, many of which are not currently equipped for molecular diagnostics. When tested on clinical samples, the sensitivity and specificity of the Company's test showed complete concordance with the comparison assay used in the study. The researchers also demonstrated an analytical sensitivity of 1010 viral copies per milliliter, which they found to be comparable to other tests used across Western Australia.

Dwight Egan, Chief Executive Officer of Co-Diagnostics, remarked, "We believe the results of this independent peer-reviewed paper further establishes the robustness, versatility, and quality of our Logix Smart COVID-19 diagnostic. Strong sales of our COVID-19 products continue domestically and abroad, illustrating the success of our business model as part of our continued commitment to making affordable molecular diagnostics available in settings ranging from high-throughput CLIA labs to remote locations across the world. Co-Diagnostics believes this study demonstrates that commitment, in addition to the advantages and adaptability of our CoPrimer™ technology."

The Journal of Medical Microbiology paper can be found here.

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.

Forward-Looking Statements:
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.

SOURCE Co-Diagnostics