Co-Diagnostics Joint Venture CoMira Finalizes Lease Agreement for Manufacturing Facility in Saudi Arabia's Sudair Industrial City

Lease execution highlights transition from approval to development and advances localized manufacturing strategy in the Kingdom of Saudi Arabia in accordance with Vision 2030

SALT LAKE CITY, May 8, 2026 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq: CODX) ("Co-Dx" or "the Company"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, today announced that its joint venture, CoMira Diagnostics LLC ("CoMira"), has finalized a lease agreement for its planned manufacturing facility in Sudair Industrial City in the Kingdom of Saudi Arabia ("KSA").

The lease execution represents a key milestone as CoMira advances domestic manufacturing capabilities within the KSA and follows the Company's previously announced approval for an industrial land allocation in Sudair Industrial City by the Saudi Authority for Industrial Cities and Technology Zones ("MODON").

"Co-Dx continues to advance our CoMira joint venture, with today's lease finalization marking an important milestone in expanding our presence in the KSA," said Dwight Egan, Chief Executive Officer of Co-Diagnostics. "Executing the lease moves us from planning into the execution phase of development and reflects ongoing progress in localizing our platform within Saudi Arabia. We believe this initiative supports the Kingdom's Vision 2030 goals related to healthcare infrastructure, domestic manufacturing, and supply-chain resilience."

The lease covers an industrial facility of approximately 14,400 square feet in Sudair Industrial City, one of Saudi Arabia's leading industrial hubs. The facility is designated for approved manufacturing activities, including diagnostic instruments, laboratory testing equipment, and medical consumables, and is intended to support CoMira's planned manufacturing activities related to the Co-Dx PCR platform* and other Co-Dx technology, subject to applicable regulatory approvals and operational requirements.

The turnkey nature of the facility is expected to support a more efficient transition to operational readiness compared to traditional ground-up development, aligning with the Company's focus on capital-efficient expansion.

Ihssan Rjoob, CEO of CoMira Diagnostics, remarked "Sudair Industrial City is intended to play a central role in Saudi Arabia's Vision 2030 initiative to diversify the economy and expand local manufacturing capabilities. We believe that establishing a presence within this industrial ecosystem aligns CoMira with national priorities around healthcare localization and industrial development."

CoMira is focused on establishing localized manufacturing and distribution capabilities across Saudi Arabia and the broader Middle East and North Africa (MENA) region. The Company believes that domestic production of molecular diagnostics within the Kingdom may offer strategic advantages, particularly in government procurement processes that prioritize locally manufactured healthcare solutions.

In addition, the Company believes that as relevant regulatory clearances are obtained by the U.S. FDA, the Co-Dx PCR platform may be introduced into the Saudi market through a more streamlined regulatory pathway compared to other international jurisdictions, potentially supporting earlier commercial activity as the facility is developed.

This announcement represents the latest step in Co-Diagnostics' broader strategy to deploy its platform globally through localized partnerships, including its CoSara joint venture in India, and reflects the Company's continued focus on scalable, capital-efficient international expansion.

*The Co-Dx PCR platform (including the PCR Home^®, PCR Pro^®, mobile app, and all associated tests) is subject to review by the FDA and/or other regulatory bodies and is not yet available for sale.

About Co-Diagnostics, Inc.:
Co-Diagnostics, Inc., a Utah corporation, is a molecular diagnostics company that develops, manufactures and markets state-of-the-art diagnostics technologies. The Company's technologies are 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 for its Co-Dx PCR at-home and point-of-care platform (subject to regulatory review and not currently for sale) and to identify genetic markers for use in applications other than infectious disease.

Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "believes," "expects," "estimates," "intends," "may," "plans," "will," "seeks," "anticipates," and similar expressions, or the negative of these terms. Forward-looking statements in this press release include, but are not limited to, statements regarding: (i) the planned development, timing, scope, and operationalization of a manufacturing facility by CoMira Diagnostics; (ii) the ability of such facility to support manufacturing of molecular diagnostic instruments and assays; (iii) expectations regarding CoMira's positioning as an early domestic manufacturer within the Kingdom of Saudi Arabia; (iv) the potential benefits of local manufacturing, including participation in government procurement programs and contribution to Saudi Arabia's Vision 2030 objectives; and (v) the Company's broader international expansion strategy across the Middle East and North Africa. These forward-looking statements are based on current expectations, estimates, forecasts, and projections, as well as the beliefs and assumptions of management as of the date of this release. Such statements are subject to a number of risks and uncertainties, including, without limitation: risks associated with satisfying infrastructure requirements and other conditions precedent; risks related to the design, financing, construction, and timely completion of the contemplated manufacturing facility; risks associated with operating through a joint venture, including governance, funding, and partner-related risks; risks related to obtaining and maintaining required regulatory approvals in the Kingdom of Saudi Arabia and other jurisdictions; risks that anticipated benefits of localization and participation in government procurement programs are not realized; uncertainties associated with market acceptance and adoption of the Company's products; competitive dynamics in the global molecular diagnostics market; execution risks associated with international expansion; and general economic, geopolitical, and public health conditions in the regions in which the Company operates or intends to operate. Actual results may differ materially from those expressed or implied in these forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. A further description of risks and uncertainties can be found in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2026, and in its other filings with the SEC. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release, except as required by applicable law.

SOURCE Co-Diagnostics